Mountain High Completes Corporate Restructuring and Share Cancellation
DENVER, CO -- (Marketwired) -- 03/18/14 -- Mountain High
Acquisitions Corp. (OTCQB: MYHI) ("Mountain High" or the "Company"),
a strategic real estate holding company whose primary focus is the
acquisition and development of commercial properties in the marijuana
sector, is pleased to announce that it has completed the irrevocable
cancellation of 113,500,000 restricted common shares of the Company.
This share cancellation is part of the previously executed Share
Exchange Agreement and Addendum (the "Agreement") between the Company
and Canna-Life Corporation ("Canna-Life"), the current holder of
options to acquire three properties zoned by the State of Colorado
and the respective municipal authorities for the cultivation of
marijuana. As a result of the Agreement, Canna-Life has become a
wholly-owned subsidiary of Mountain High (see Form-8K filed March 10,
Following the aforementioned cancellation of the 113,500,000
restricted common shares and the issuance of 8,096,000 restricted
common shares as part of the acquisition of Canna-Life, there are a
total of 23,884,000 common shares of the Company outstanding.
"These acquisitions position the Company for rapid growth as we build
out each property," stated Mr. Alan Smith, President of Mountain High
Acquisitions Corp. "In addition, the Company intends to develop other
complementary revenue streams from the advantageous position as
landlord and primary services provider to our properties."
About Mountain High Acquisitions Corp. (MYHI)
Mountain High Acquisitions Corp. is a strategic real estate holding
company whose primary focus is the acquisition and development of
commercial properties to be leased and utilized by the marijuana
industry. Mountain High's current portfolio includes three Colorado
properties zoned for commercial marijuana cultivation: Isabelle,
Madison, and Pueblo.
The Company does not and will not grow, harvest, distribute, or sell
cannabis or any substances that violate United States law or the
Controlled Substances Act.
Disclaimer/Safe Harbor: This Mountain High Acquisitions Corp. news
release contains forward-looking statements within the meaning of the
n Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include failure to
meet schedule or performance requirements of the Company's contracts,
the Company's liquidity position, the Company's ability to obtain new
contracts, the emergence of competitors with greater financial
resources and the impact of competitive pricing. In the light of
these uncertainties, the forward-looking events referred to in this
release might not occur as planned or at all. The Company does not
and will not grow, harvest, distribute, or sell cannabis or any
substances that violate United States law or the Controlled
Substances Act, nor does it intend to do so in the future.
Mountain High Acquisitions Corp.
(844) 686-0420 (Toll-free)
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