VANCOUVER, BC / ACCESSWIRE / June 20, 2019 / 1169029 B.C. Ltd. (the “Company”) announces resignations of J. Scott Munro as CEO/CFO and director and Ron Ozols as director in conjunction with the appointments of Don Schmidt as CEO and director, Walter Lawrin as CFO and director and Chris Wong as director.
Biographies of Newly Appointed Directors & Officers
Don Schmidt – appointed as CEO and director. Mr. Schmidt has worked in the real estate industry for 36 years in B.C. as a residential and commercial Realtor / Developer responsible for subdivisions, over 100 units in townhome projects and three major commercial buildings. His business knowledge in taking these projects from start to finish; illustrating his organizational and financing skills. Mr. Schmidt’s entrepreneurial skills are also apparent with privately developed enterprises, including: Medallion Indoor Environmental and Medallion Healthy Homes, which both offer exceptional services to insure healthy indoor environments in residential and commercial buildings. He has now brought that experience and expertise in establishing quality business and operations for Agri-Tech.
Walter Lawrin – appointed as CFO and director. Mr. Lawrin has vast experience in developing companies in a variety of industries over the past 50+ years, including: restaurants, GM dealership as owner/operator, mining companies that includes Black Dome Exploration funded by Ontario Teachers’ Pension Plan, water bottling and distribution company, and other private and publicly traded companies, with current efforts focused on the development of Agri-Tech.
Chris Wong – appointed as director. Mr. Wong graduated from the British Columbia School of Technology in 1995 with a Business Administration degree and since that time has developed exceptional skills in management and entrepreneurship. His work experience with Ocean 2U Seafood Ltd. and Mega Pond (Honk Kong) Limited gave him excellent knowledge of trade contracts, letters of credit and international trade and banking policies; to assist with all current and future foreign business opportunities, contracts, and trade. Mr. Wong’s has a core skill and ability to work with key executives and coordinate market information to develop business opportunities. He is currently working for and assisting Agri Tech in developing several potential business opportunities.
Acquisition of Agri-Tech
The Company has closed on the acquisition of Agri-Tech, which is a now a wholly-owned subsidiary of the Company. Pursuant to the Share Purchase and Sale Agreement, the Company issued a total of 21,660,000 at a fair value of $1,083,000 or $0.05 per share through a share exchange on a 1:1 basis with Agri-Tech shareholders to acquire a 100% equity interest and ownership in Agri-Tech, which is now a wholly-owned subsidiary of the Company.
Agri-Tech Farms Limited, based near Vancouver, B.C., has a core business plan of developing agricultural operations, including food production and distribution in the Americas, China and other world markets.
About 1169029 B.C. Ltd.
The Company was originally incorporated as a wholly-owned subsidiary of Hemagenetics Technologies Corp. to conduct a plan of arrangement with Agri-Tech. The business and operations of the Company are now those conducted through its wholly-owned subsidiary Agri-Tech.
For further information please contact:
Don Schmidt, CEO and director
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE: 1169029 B.C. Ltd.
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