Toronto, ON. — TheNewswire - April 4, 2023 — Hill Street Beverage Company Inc. (TSXV:HILL) (OTC:HSEEF) ("Hill Street” or the "Company"), a progressive bioscience implementation company that utilizes new technologies to provide innovative cannabis solutions and non-alcoholic beverage products globally, is pleased to make the following announcements.

Annual General and Special Meeting of Shareholders

 

The Annual General and Special Meeting of Shareholders (the “Meeting”) will take place at 1:30 pm EST on Tuesday May 2, 2023 at the offices of Torkin Manes LLP, 151 Yonge Street, Suite 1500, Toronto ON M5C 2W7.  

 

The materials for the Meeting, including the Management Information Circular, which sets out in detail the annual and special items proposed for shareholder approval, have been distributed to Hill Street shareholders and can also be found at the Company’s profile on www.sedar.com or at the Company’s website here: https://hillstreetbeverages.com/for-investors/.

 

Share Consolidation

 

As part of the Meeting, shareholders of the Company (“Shareholders”) will be asked to approve an amendment to the articles of the Company to consolidate its outstanding Common Shares (the "Share Consolidation") on the basis of up to 75 pre-consolidation Common Shares for each 1 post-consolidation Common Share.  

 

The Board of Directors of the Company (the “Board”) has concluded that the Share Consolidation would be in the best interests of Shareholders as it could lead to increased interest in the Company’s shares by a wider audience of potential investors, and may result in an increase in the trading volume and liquidity of its shares.  

 

Notwithstanding the foregoing, the Board may determine not to implement the Share Consolidation at any time after the Meeting and after receipt of necessary regulatory approvals, but prior to the issuance of a certificate of amendment, without further action on the part of the Shareholders.  The Share Consolidation would also be subject to approval by the TSX Venture Exchange.  

 

Assuming the Share Consolidation is approved at the Meeting, registered Shareholders are advised not to mail in the certificate(s) representing their Common Shares until they receive confirmation from the Company by way of news release that the Board has decided to implement the Share Consolidation.

    

Matthew Jewell, CFO comments:

 

 “With the recent combination of Hill Street’s successes with:

• Insider supported out-of-the-money private placement (Click HERE),  

• record breaking results recently released (Click HERE) , 

• uplisting to the OTCQB (Click HERE), and, 

• Confirmation of DTC Eligibility (click HERE 

 

The Company strongly believes that this is the appropriate time to open itself up to an expanded pool of investors by way of a Share Consolidation with the intention of realizing its share price potential.”  

About Hill Street Beverage Company Inc. (TSXV: HILL)

Hill Street is a progressive bioscience implementation company that utilizes new technologies to provide innovative cannabis solutions and non-alcoholic beverage products globally. We are pioneering the space where craft consumer products meet bioscience by leveraging our deep CPG expertise to commercialize leading-edge technologies to craft superior plant-derived consumer products. We are currently developing the platform for North American distribution around our rights to use Lexaria Bioscience Corp.’s ground-breaking DehydraTECH™ patent portfolio for product development, licensing and B2B sales of cannabis ingredients.

For more information on our business activities or to check out Hill Street’s award-winning alcohol-free line-up and order product to be delivered straight to your home go to www.hillstreetbeverages.com

If you wish to sign up for the Hill Street mailing list, click HERE.

For more information:

Matthew Jewell, Chief Financial Officer       
matthew@hillstreetbevco.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “would”, “could”, “anticipate”, “expects”, and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.