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New Colombia Resources Inc (OTCMKTS:NEWC) Signs Consulting Agreement to Spin off Sannabis

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New Colombia Resources Inc (OTCMKTS:NEWC) has agreed to sign into a consulting agreement that will have Sannabis SAS spun out. If all move according to plan, SANNABIS, PLC, which will be the subsequent company will eventually become of those trading on the London Stock Exchange’s AIM Market.

A person familiar with the changes said, “AIM is the London Stock Exchange’s international market for smaller growing companies. A wide range of businesses including early stage, venture capital backed as well as more established companies join AIM seeking access to growth capital.”

In its recent statement, New Colombia Resources revealed that it had spotted the public company trading on the AIM and learnt about its plan to strike a merger with Sannabis SAS. For over quite some time it was working closely with several experienced consultants on listing project management, legal and tax issues, business planning and valuation, financial information, corporate governance, and compliance.

The nature of the model of the Sannabis business made the transaction terms rather favorable to Sannabis and the New Colombia Resources. If there happens to be any publicly traded medical marijuana stocks on the AIM then they must be very few. Market experts have given their projections outlining that the transaction will most probably be closed in Q4 2017.They went ahead to make the revelation that the ex-dividend date might be announced any time from now. Through the secondary listing on the Frankfurt Stock Exchange, SANNABIS, PLC will gain further access to quite a significant number of the European investors.

The President of the New Colombia Resources, Inc John Campo thanked all the loyal shareholders for the great support they had shown. According to him, the spin-off of the company’s mining operations as well as that of Sannabis was already in progress and the subsequent operations were set to begin any time soon. The goal will be to do all humanly possible towards the enhancement of shareholder value.

The top executive added that he had over quite some time directed much effort towards the general good of the company and one of them was the set up of a unique and diverse mining portfolio.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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