BOULDER, CO / CRWEPRESSRELEASE / August 31, 2015 / CLS Holdings USA, Inc. (OTCMKTS:CLSH), a diversified cannabis company, is pleased to announce that the Depository Trust Corporation (the “DTC”) has approved its common stock for DWAC/FAST transfer through the Company’s Transfer Agent, V Stock, LLC. This newly approved stock transfer capability will enable CLS Holdings’ shareholders to transfer their shares of CLSH stock electronically after buying or selling on the open market, without the extra expense and delay associated with the processing and transfer of physical share certificates.
In addition to expediting markedly the transactional process, literally from weeks to hours, DWAC/FAST approval also serves to eliminate the risks associated with the loss and replacement of physical share certificates. Another side benefit is that companies approved for DWAC/FAST electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
“We are pleased to announce another shareholder-friendly step in our evolution as a public company,” said Jeff Binder, Chairman, President and Chief Executive Officer of CLS Holdings USA. “DWAC transfer eligibility enables our shareholders to maintain the highest levels of efficiency, accountability and compliance standards for their trading activities in our shares through the best and most up-to-date electronic securities trading platforms being used today,” he added.
DWAC allows participants to instruct DTC regarding deposit and withdrawal transactions being made directly via a FAST transfer agent. The FAST system eliminates the movement of physical share certificates for transfers of securities registered in the name of DTC’s nominee, Cede & Co., on the transfer agent’s books. DTC and its FAST transfer agents reconcile the results of participants’ deposit and withdrawal activities electronically on a daily basis.
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. is a diversified cannabis company, specializing in the extraction and conversion of cannabinoids. CLS stands for “Cannabis Life Sciences,” as it maintains a proprietary method of extracting various cannabinoids from the marijuana plant and converting them into higher quality and quantity. CLS Holdings USA business model includes licensing operations, processing revenue, processing facilities, sale of products and brand creation and consulting services.
For more information, check out: http://www.clsholdingsinc.com.
Forward-Looking Statements. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Form 8-K filed on April 30, 2015, including but not limited to the discussion under “Risk Factors” therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.
Chairman and CEO
Darrow Associates, Inc.
Peter Seltzberg, Managing Director
SOURCE:CLS Holdings USA, Inc.