Vancouver, British Columbia - TheNewswire - March 11, 2022 - Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (OTC:BLRZF) (Frankfurt:0JJ) (the “Company” or “Blackhawk”), is pleased to announce that the Company has completed the acquisition of the remaining share capital of Stable Foods Co. (formerly known as NuWave Foods).
“With the closing of the transaction, Stable Foods is finally a wholly owned subsidiary of Blackhawk” said Frederick Pels, CEO of Blackhawk Growth Corp. “Stable Foods is expected to be a significant asset and I look forward to updating shareholders with its progress over the coming months.”
Pursuant to the terms of a share purchase agreement, dated February 21, 2022, the Company has acquired the remaining 49% interest of Stable Foods Co. it did not already own and has issued 3,200,000 common shares to the existing shareholders of Stable Foods Co. at a deemed price of $0.41 per share. A 120,000 share finders' fees was paid to an arms-length third-party in connection with closing of the acquisition.
The Company is at arm's length from Stable Foods Co. and its shareholders. The acquisition of the remaining interest neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. In connection with completion of the acquisition, the Company will not be assuming any additional debts or obligations and Stable Foods Co. will continue to operate as a wholly-owned subsidiary of the Company.
Stable Foods Co. will continue to form a key part of the Company's existing portfolio of investments. Stable Foods Co.’s existing management team led by Scott Manley will continue to retain responsibility for overseeing day-to-day operations.
About Stable Foods Co.
Stable Foods Co. is a fully licenced commercial kitchen and baked goods manufacturer located in Edmonton Alberta. Stable Foods Co. has a process to create a shelf-stable baked product without the use of any preservatives. This can be applied to virtually any baked good. Given the current world climate, demand for products with shelf stability has skyrocketed. Using Stable Foods Co. considerable contacts in the food industry across North America, Stable Foods Co. is positioned to quickly be a leader in this rapidly growing space.
About Blackhawk Growth
Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes TERP Wholesale, Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, Stable Food Co., MindBio Therapeutics, Digital Mind Technology as well as an equity position in Gaia Grow Corp. (CSE:GAIA) .
The company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
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For further information please contact:
Frederick Pels, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to production and sale of the Stable Food Co. products and approval of the products. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.