Calgary, Alberta, January 6, 2021 – Discover Wellness Solutions Inc. (formerly RMMI Corp.) (“Discover Wellness” or the “Company”) (CSE: WLNS), a licensed producer and processor under the Cannabis Act (Canada), is pleased to announce that the Canadian Securities Exchange (the “CSE”), pursuant to the name change that was approved by the Company’s shareholders on December 22, 2020, has approved the use of the ticker WLNS. Discover Wellness will trade on the Canadian Securities Exchange (the “CSE”) under the symbol “WLNS” effective January 6, 2021. Additionally, the Company has hired ARU Global Inc. to raise investor awareness for an initial period of six months for $4,500 per month.
The Company’s name change from “RMMI Corp.” to “Discover Wellness Solutions Inc.” and new ticker is part of a strategy to better reflect the Company’s current operations which are more focussed on the much larger CBD market and away from cultivation of cannabis. The new name more closely aligns with the Company’s vision to establish its cost leadership in CBD extraction with a focus on the non-psychoactive space, to create value for shareholders
“The name change is part of strategy to rebrand our Company and focus attention on our wellness strategy.” commented Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer.
The Company would like to issue a correction in relation to the press release (“PR”) issued on December 29, 2020 and titled, “RMMI Announces Completion of Name Change to Discover Wellness Solutions, Takes Possession of 550,000 kg of High-CBD Biomass and Completes Strategic Alliance with SynerGenetics Bioscience”. The title and text in the PR should be changed to 550,000 lbs and that all references to “kgs” should be changed to “lbs”.
In connection with taking possession of the first 550,000 lbs of high-CBD hemp biomass pursuant to the Company’s previously announced Hemp Contribution Agreement and the completion of the SynerGenetics Bioscience Inc. Strategic Alliance agreement, the Company has issued 19,734,000 common shares. It is a transformational deal as this purchase of hemp for Discover Wellness common shares and contingent consideration translates to a working capital savings of over $5 million and results in SynerGenetics Bioscience Inc. becoming a major shareholder and strategic partner to the Company.