Wesana Health and Debut Announce Receipt of Conditional Approval for CSE Listing
TORONTO and CHICAGO, April 28, 2021 (GLOBE NEWSWIRE) -- Wesana Health Inc. (“Wesana”) and Debut Diamonds Inc. (“Debut”) (CSE: DDI), today announced that they have obtained conditional approval from the Canadian Securities Exchange (“CSE”) for the listing of the subordinate voting shares that will result from the previously announced reverse takeover (“RTO”) of Debut by Wesana.
In connection with the RTO transaction, Wesana will amalgamate with a wholly-owned subsidiary of Debut, all of the outstanding shares of Wesana will be exchanged for shares of Debut, and Debut will change its name to "Wesana Health Holdings Inc.”
Final approval from the CSE is subject to Wesana and Debut meeting certain conditions required by the CSE, which includes completion of the RTO transaction. Upon receipt of the final approval, it is expected that Wesana Health Holdings Inc. will commence trading of its shares on the CSE under the ticker symbol “WESA.”
About Wesana Health
Wesana Health is an emerging life sciences company championing the development and delivery of psychedelic and naturally-sourced therapies to treat traumatic brain injury (TBI). Through extensive clinical research and academic partnerships, Wesana Health is developing evidence-based formulations and protocols that empower patients to overcome neurological, psychological and mental health ailments caused by trauma.
Learn more at www.wesanahealth.com
About Debut Diamonds Inc.
Debut Diamonds Inc. is a mineral exploration company with no current activities or operations.
For more information, please contact:
KCSA Strategic Communications
Nick Opich / Brittany Tibaldi
KCSA Strategic Communications
Phone: 212-896-1206 / 347-487-6794
Forward-Looking Information and Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the proposal to complete the RTO, listing on the CSE and associated transactions. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the expected terms of the RTO, Wesana's strategic plans and the parties' ability to satisfy closing conditions and receive necessary approvals in order to complete the RTO and associated transactions are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the RTO transaction will occur or that, if they do occur, they will be completed on the terms described above. Debut and Wesana assume no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law.
Released April 28, 2021