Syd Announces Achievement of 2nd Thc License FOR Santa Marta .
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
SYD FINANCIAL INC.
303 – 570 Granville Street
Vancouver, BC V6C 3P1
FOR IMMEDIATE RELEASE September 23, 2019
SYD FINANCIAL INC. ANNOUNCES MILESTONE ACHIEVEMENT OF SECOND THC LICENSE
FOR SANTA MARTA LIFE SCIENCES CORP.
Vancouver, B.C. – Syd Financial Inc. (the “Company” or “Syd”) (CSE: SYDF) is pleased to announce that,
on September 9, 2019, Santa Marta Life Sciences Corp. (“ Santa Marta ”) received its License for the
Manufacture of THC Derivatives from the Colombian Ministry of Health. This is a major regulatory
achievement for Santa Marta and a clear indication of the trust established between Santa Marta and
the Colombian government. Santa Marta has now secured two cannabis licenses from the Colombian
government (the other being a License for Cultivation, Extraction, Sale and Export of Non -Psychoactive
Cannabis).
The Company is currently working on a subscription receipt financing for aggregate gross proceeds of no
less than $6,00 0,000 at a price of $0.125 per subscription receipt (each subscription receipt being
convertible into one Syd Share and one warrant to purchase one additional Syd Share exercisable at
$0.375 per Syd Share) (the “Syd Financing”).
As previously announced (Sept 10, 2019) , the Company entered into a definitive business combination
agreement dated effective September 6, 2019 (the “Agreement”) with Santa Marta and a wholly-owned
subsidiary of the Company, 1221439 B.C. Ltd. (“Newco”). Pursuant to the Agreement, the Company has
agreed to acquire all of the issued and outstanding securities of Santa Marta by way of a t hree-cornered
amalgamation between the Company, Santa Marta and Newco (the “Transaction”). The Transaction will
result in a reverse takeov er of the Company by the security holders of Santa Marta and constitute a
change of business for the Company from mineral exploration to the cannabis industry . As part of the
transaction Syd is in the process of disposing of its current mineral property.
About Santa Marta
Santa Marta specializes in creating high -quality CBD & THC oils for distribution in the global medical
marketplace. The Company has secured a 25 -year lease on 3 4.5 hectares of agricultural land in
Colombia, as well as two cannabis licenses from the Colombian government. The company has secured
agreements for distribution in the EU, Canada, Mexico, and Colombia, as legally permitted.
All of the information included in this news release with respect to Santa Marta has been provided by
management of Santa Marta.
SYD Financial Inc.
On behalf of the Board of Directors,
“Keith Anderson”
Keith Anderson, CEO, Secretary and Director, Syd Financial Inc.
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For further information on the Company, please email [email protected]
Keith Anderson
Syd Financial Inc.
(604) 786-7774
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has in no way passed upon the merits
of the proposed Transaction and has neither approved nor disapproved of the contents of this press
release.
Disclaimer for Forward-Looking Information
Certain statements in this press release are forward -looking statements and are prospective in nature.
Forward-looking statements are not based on historical facts, but rather on current expectations and
projections about future events, and are therefore subject to risks and uncertainties which could cause
actual results to differ materially from the future results expressed or implied by the forward -looking
statements, including: the receipt of all necessary regulatory approvals , the ability to conclude the
Transaction, capital expenditures and other costs, and financing and additional capital requirements.
These statements generally can be identified by the use of forward -looking words such as “may”,
“should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or
the negative thereof or similar variations. Forward -looking statements in this news release include
statements regarding the terms of the proposed Transaction, completion of t he proposed Transaction,
the Syd Financing and the Santa Financing, if any, the consolidation of the shares of the Company and
intended name change of the Company, the listing of the shares of the R esulting Issuer on the CSE , and
the anticipated business p lan of the Resulting Issuer subsequent to completion of the Transaction,
including the obtaining of cannabis-related licences in Colombia. Although management of the Company
has attempted to identify important factors that could cause actual results to dif fer materially from
those contained in forward -looking statements or forward -looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward looking information. The Company assumed no obl igation to
update any forward -looking statements or forward -looking information th at are incorporated by
reference herein, except as required by applicable securities laws.