James E. Wagner Announces Director Resignation

KITCHENER, ON, June 1, 2020 /CNW/ - James E. Wagner Cultivation Corporation (the "Corporation") (NEX: JWCA.H; OTCQX: JWCAF) announced today that Mr. Nathan Woodworth has stepped down as Chairman and a member of the Board of Directors of the Corporation.  Mr. Woodworth continues to be the Chief Executive Officer of the Corporation. The Corporation wishes to express its gratitude to Mr. Woodworth for his service on the Board.

As previously announced, in connection with the Corporation's consensual restructuring under the Companies' Creditors Arrangement Act and previously announced Sales and Investor Solicitation Process, Trichome Financial Corp. ("Trichome Financial") has emerged as the successful bidder. The Corporation intends to appear before the Ontario Superior Court of Justice (Commercial List) on June 2, 2020 to seek an order approving the Trichome Financial bid. 

About James E. Wagner Cultivation Corporation

James E. Wagner Cultivation Corporation's wholly owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis using an advanced and proprietary aeroponic platform named GrowthSTORM™. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC is a family-founded company with deep roots planted in the local community. JWC's operations are based in Kitchener, Ontario. Learn more at www.jwc.ca. For additional information about JWC, please refer to JWC's profile on SEDAR (www.sedar.com) or the Corporation's website: www.jwc.ca.

Notice Regarding Forward-Looking Statements

This press release contains statements including forward-looking information for purposes of applicable securities laws ("forward-looking statements") about JWC and its business and operations, which include, among other things, statements regarding the Corporation's intention to appear before the Ontario Superior Court of Justice (Commercial List) on June 2, 2020 to seek an order approving the Trichome Financial bid. The forward-looking statements can be identified by the use of such words as "will", "expected", "approximately", "may", "could", "would" or similar words and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. There may be factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on current assumptions which management believes to be reasonable. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

SOURCE James E. Wagner Cultivation Corporation

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