logo-loader
viewEuroLife Brands

EuroLife Brands CEO exercises 1.5 million warrants in show of confidence for company's potential

CEO Shawn Moniz said the firm's current share price is not reflective of the potential of its business plan and the long-term outlook

EuroLife Brands -
The CEO has now purchased over two million Eurolife Brands shares in the past 60 days

EuroLife Brands Inc (CSE:EURO) (OTCPINK:EURPF) said its CEO Shawn Moniz has exercised over 1.5 million warrants priced above market offer at C$0.05 in a demonstration of his longer-term belief in the potential of the business.

The CEO has now purchased over two million shares in the past 60 days, Toronto-based EuroLife said.

In a statement, Moniz told shareholders that the company’s current share price of C$0.04 is not reflective of the potential of its business plan and the long-term outlook for the health and wellness markets in the European Union.

READ: EuroLife Brands set to buy central Europe-focused CBD hemp retailer in C$5M deal

The cannabis company recently updated shareholders on the pending acquisition of a chain of health and wellness retail locations in Germany and Luxembourg that will “put EuroLife Brands on the European map,” according to Moniz, allowing the firm to obtain the distribution and revenue segment of the business model for end-user products.

CWE European Holdings Inc, a firm which operates a seed-to-sale hemp CBD business in German-speaking countries in Europe, will become a subsidiary of EuroLife. The company owns and operates HANF Hemp Stores in Germany and Luxembourg and offers more than 300 hemp-based products.

“As we navigate these uncharted economic conditions due to the (coronavirus) COVID-19 pandemic, I believe the health and wellness product category will become more evident and more important moving forward,” Moniz said in Monday's statement.

The CEO, who has never sold a share in the company, said he is voluntarily putting the exercised shares in escrow for a 12-month period as a show of confidence in the company’s future.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: EuroLife Brands

Price: 0.26 CAD

CSE:EURO
Market: CSE
Market Cap: $9.9 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of EuroLife Brands named herein, including the promotion by the Company of EuroLife Brands in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buds & Duds: Cannabis stocks reverse; Nabis Holdings jumps after securing...

The North American Marijuana Index, lost 1.5% to 136 points. The OTCQX Cannabis Index dipped 1.4% to 504 points. Buds today were Nabis Holdings Inc (CSE:NAB) (OTCMKTS:NABIF), EuroLife Brands Inc (CSE:EURO) (OTCMKTS:CANVF). Duds were HEXO Corp (TSE:HEXO)...

on 10/16/2019

2 min read