Toronto, Ontario--(Newsfile Corp. - April 3, 2018) - Telferscot Resources Inc. (CSE: TFS) ("Telferscot" or the "Company") is pleased to announce that the Company has received confirmation from the Canadian Securities Exchange of approval of the listing of the common shares of Canntab Therapeutics Limited ("Canntab") subject to completion of the transactions as described in the listing statement and completion of any and all outstanding CSE documentation and fee payments.
Additionally, the Company is pleased to inform shareholders and investors that the shareholders of Canntab have approved the acquisition of Canntab by Telferscot as detailed in the Company's Management Information Circular.
It is anticipated that the transaction will close on or about April 9, 2018. At which point, Telferscot shares will be exchanged for new shares of Canntab on a ratio of 1 new Canntab share for every 200 current Telferscot shares.
Following closing of the transaction and subject to any approvals by the Canadian Securities Exchange and Regulators, Canntab shares will commence trading on the CSE under the trading symbol: "PIL"
For information on the transaction as well as the Telferscot Plan of Arrangement — the distribution of new company shares to Telferscot shareholders, please go to www.tfs-poa.com. Investors can sign up there to receive news and investor communications on the activities of Canntab as well as plans and developments in each of the new entities to be distributed to shareholders.
About Canntab Therapeutics Limited
Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extracted from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. Simply put, Canntab's mission is to put the "Medical" into medicinal cannabis!
About Telferscot Resources Inc.
Telferscot Resources Inc. is a Canadian company listed on the CSE under ticker symbol TFS. For further information and access to the Company's public disclosure record please consult SEDAR at www.sedar.com or the Canadian Securities Exchange at www.thecse.com.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Canntab Therapeutics Limited
Richard Goldstein, CFO
Office: 416 957-6303
Telferscot Resources Inc.
Catherine Beckett, Manager Corporate Affairs