HICKSVILLE, NY, Jan. 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Canbiola, Inc. (OTCQB: CANB) (“Canbiola” or the “Company”), a developer, manufacturer, and supplier of a variety of hemp-derived THC-Free Cannabidiol (CBD) Isolate products such as oils, drops/tinctures, creams, moisturizers, chews, and capsules, today is providing comment on recent sponsored news and marketing activities concerning its shares of common stock traded on the OTCQB market.
On January 22, 2020, OTC Markets Group (“OTC Markets”) sent the Company copies of two electronic newsletters (collectively, the “Activities”), one of which was sent on January 21, 2020, by LionStockAlerts.com and the other on January 21, 2019, by AwesomeStocks.com., and requested comment from the Company. The Company was aware of the activities before receiving copies of such from OTC Markets. The company directly retained ALG Financial LLC at twenty thousand dollars for the dissemination of these reports as disclosed on the marketing material but did not have editorial control of the content. Their engagement was to factually tell the company story in an accretive and transparent manner. The factual information provided in the promotional material, which was extracted from SEC filings, our website, and press releases, is deemed to be accurate, however, any opinions expressed by the author are his alone as we had no right of edit or control over those opinions.
The Company recognizes that this activity coincided with higher than average trading volume in the Company's common stock. However, the Company has no opinion as to whether or not and/or the extent to which the activity affected trading activity because of the many factors that affect trading activity generally, as well as the effect that recent issuances of public news releases and filings with the Securities and Exchange Commission (the “SEC”) by the Company and other companies in its industry may have had on trading volume. On a stand-alone basis, the company has published four press releases, two 8K’s and a Pre 14C reflecting the activities in the company.
The company has had four material press releases, two 8K’s, and a Pre14c reflecting the activities of the company over the last several weeks and, the company believes that such announcement may have been a significant factor in the increase in the trading volume of its common stock.
The Company understands that there are statements made in the materials which may be deemed to encourage investors to purchase the common stock of the Company. Such statements only express the view of the authors. The company disclaims any potentially exaggerated or misleading statements contained in the materials. In addition, the Company has determined that certain statements included in the materials related to the Company and its business might be viewed as incomplete. Readers of the materials should not place undue reliance on the materials Specifically, the Company does not condone the use of sensational language to describe the Company’s business prospects or any statements made regarding the urgency of investing in the Company’s common stock (or any other similar statements). Finally, the Company notes that investing in the Company’s securities involves certain risks and uncertainties that investors should review prior to making any investment decision. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with the SEC, available at www.sec.gov and as posted on the filings and disclosure page for CANB on OTC Markets’ website at www.otcmarkets.com.
In the last twelve months, the Company has engaged Atlanta Capital Partners LLC, to provide marketing services for the purpose of enhancing investor awareness of the Company. The Company engaged MMH Communications for Investor Relations, as previously announced in a January 13th, 2020 press release. The Company has engaged ALG Financial LLC to provide marketing services but did not have editorial control over, or review in advance or approve, the content of the material. The Company has previously hired Uptick News wire for interview services, XF Capital Holding Corp for investor relations, and Clear Stock Consultants for marketing and advertising. Additionally, in 2019, Tydasco Partners had provided investor relation services to the company and is no longer engaged with the company.
Upon inquiry of management, directors, control persons and third-party service providers, to the Company’s knowledge, based upon filings made with the SEC and other information available to the Company, during the past 90 days, no such persons executed any purchase or sales transactions of the Company’s securities.
Further as requested by OTC Markets for the company to state whether the company has issued any shares underlying convertible instruments at the time of any marketing materials, the company represents that no such shares have been issued during this time.
Further at the request of OTC Markets to identify any such instruments, the company has a single Convertible Debenture issued to FirstFire Global Opportunities Fund LLC of New York, the issuance date of this was 12-19-19, with a maturity date of 6-18-20, and the first convertibility possible is 6-19-20 at the lower of .02 per share or 80% of the market close.
For more information about Canbiola, Inc., please visit: Canbiola.com
Forward-Looking Statements
Forward-looking statements and risks and uncertainties discussed in this letter contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price.
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