Certification and Hearing to Approve Proposed Settlement of Braxia Scientific Corp. Securities Class Action

TORONTO, May 9, 2022 /CNW/ - The parties to a proposed class action commenced against Braxia Scientific Corp. (formerly known as Champignon Brands Inc.), William Gareth Birdsall, Lucas Birdsall, Roger McIntyre, Stephen Brohman, Canaccord Genuity Corp., Eight Capital and Gravitas Securities Inc. have reached a proposed settlement of the claim which is subject to approval by the Supreme Court of British Columbia.

The class action has now been certified. This notice provides information about this proposed settlement and related matters and how to exclude yourself ("opt-out") out of the class action.

Your legal rights are affected even if you do nothing. Please read this notice carefully.

The class action was commenced on behalf of all persons and entities who acquired securities of Braxia Scientific Corp. ("Braxia") either:

(1)	in Braxia's private placement which closed on June 11, 2020; or
(2)	on a stock exchange between May 12, 2020 and March 11, 2021 and held all or some of those securities until the open of trading on February 17, 2021 and/or until the close of trading on March 11, 2021, and who:
	i.	are residents of Canada or were residents of Canada at the time of such acquisitions, regardless of the location of the exchange on which they acquired Braxia's securities, provided that they opted out of the parallel U.S. class action if they bought their Braxia securities on the over-the-counter market in the United States; or
	ii.	acquired Braxia's securities on a stock exchange in Canada or another exchange located outside of the United States, regardless of where they reside or are domiciled.

The proposed settlement amount is CAD $1,900,000, including Class Counsel's fees, applicable taxes and expenses, and interest. The Defendants do not admit any wrongdoing or liability. By agreeing to the proposed settlement, the parties avoid the costs and uncertainty of a trial and delays in obtaining judgment.

If you do not wish to be bound by the class action and participate in the settlement, you must opt out of the class action. A copy of the Opt-Out Form is available here:
            https://knd.law/class-actions/braxia-scientific-corp/

The Supreme Court of British Columbia is required to decide whether to approve the proposed settlement, class counsel fees and disbursements plus tax, an honorarium for the Representative Plaintiff and a plan to allocate and distribute the settlement proceeds. The Court will hear submissions about the approval of the proposed settlement on July 18, 2022. Payments will only be made available if the Court approves the proposed settlement and after any appeals are resolved.

Your Legal Rights and Options For This Proposed Settlement:

1. Stay in the Class Action and Do Nothing: You do not have to do anything to stay in the class action, but you will give up your right to sue the Defendants on your own.
2. Stay in the Class Action and Object: If you want to object to the proposed settlement or the payment of Class Counsel's fees, fill out a Notice of Objection available at: https://knd.law/class-actions/braxia-scientific-corp/. You must submit your Notice of Objection by email to [email protected] or fax at [phone] by June 30, 2022 for it to be valid.
3. Opt-Out of the Class Action: You can exclude yourself from the class action and the proposed settlement by filling out an Opt-Out Form available at: https://knd.law/class-actions/braxia-scientific-corp/. You must submit your Opt-Out form by email to [email protected] or fax at [phone] by June 30, 2022 for it to be valid.

These rights and options and the deadlines to exercise them and further information about the proposed settlement are explained in a notice available at: https://knd.law/class-actions/braxia-scientific-corp/

More details may be found in the Settlement Agreement. You can obtain a copy of the Settlement Agreement at https://knd.law/class-actions/braxia-scientific-corp/. You can send your questions by email to [email protected] or by fax to [phone].

The lawyers for the Plaintiff and the Class in this class action are KND Complex Litigation.

SOURCE KND Complex Litigation

Braxia Class Action Counsel, KND Complex Litigation c/o Hadi Davarinia, Email: [email protected], Fax: [phone]