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A manufacturer and international distributor of decocainized coca leaf derivatives Power Leaves Corp. (PLC) is planning to go public through a reverse takeover transaction with Rockshield Acquisition Corp. The deal is planned for the first half of 2024 and Power Leaves is looking at trading the shares on the CBOE Canada.

“On the back of a strong 2023 where we generated our first revenues and made significant inroads on key business development initiatives, the initiation of the public listing process is the next critical step in PLC’s growth and delivering on our commitments to shareholders,” Pat McCutcheon, Co-Founder & CEO of PLC commented. “This transaction and public listing offer a cost-effective path towards securing the growth capital needed to accelerate the expansion of our coca extract, essence, and fertilizer businesses, and ultimately grow shareholder value for the long term.”

 

PLC founders, principals, and other shareholders who acquired their PLC shares at a price per share below certain thresholds have agreed to a 12-month lock-up on all such shares. Rockshield shareholders agreed to an 18-month lock-up on all Rockshield Shares.

“We made the strategic decision to list PLC on Cboe Canada as it offered streamlined access to the entire Cboe Global Markets network of international equities exchanges. We believe this increased exposure to investors globally and future capabilities to intra-list on Cboe US and Cboe Europe can substantially increase the profile and growth of PLC’s three core business lines,” continued Pat McCutcheon. “Upon a successful public listing, we will be the first company to offer investors the ability to invest in the future of decocainized coca derivatives as we unlock the coca plants’ incredible potential.”

Founded in 2019, Power Leaves wants to break the monopoly on the supply of coca leaf extract and usher in a new Age of Coca. Through an exclusive agreement with an Indigenous community, Power Leaves has developed the first-ever legal Colombian supply chain for decocainized coca extract to supply the global food and beverage markets. Through its established infrastructure, Power Leaves is developing and manufacturing proprietary formulations of coca extract and essence that offer an exceptional taste profile and an all-natural source of protein, nutrients, and positive health benefits.

 

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420GrowLife

via www.KahliBuds.com

Debra Borchardt, KahliBuds, 420GrowLife