Tweed Inc. and LW Capital Pool Inc. announce filing of filing statement relating to reverse takeover transaction

OTTAWA, March 26, 2014 /CNW/ - LW Capital Pool Inc. ("LW CPI") (TSXV: LWI.H) and Tweed Inc. ("Tweed") are pleased to announce that as of March 25, 2014 they filed a filing statement on www.SEDAR.com relating to the proposed transaction pursuant to which Tweed will complete a reverse takeover of LW CPI (the "Transaction").   

The filing statement was prepared and filed pursuant to the policies of the TSX Venture Exchange (the "Exchange") and provides information with respect to LW CPI, Tweed and the proposed Transaction.

LW CPI is a Capital Pool Company listed on the NEX board of the Exchange.  LW CPI has not commenced commercial operations and has no assets other than cash.  The Transaction, if completed, will constitute LW CPI's "Qualifying Transaction", as defined in Exchange policies.

Tweed was incorporated under the Business Corporations Act (Ontario) on January 22, 2010 and became a licensed producer of medical marijuana on January 27, 2014.  The principal activities of Tweed are the production and sale of marijuana out of its facility in Smiths Falls, Ontario as regulated by the Marihuana for Medical Purposes Regulations. 

For further details about LW CPI and Tweed please refer to the filing statement on www.SEDAR.com.

The parties will immediately move forward with closing the Transaction and intend to submit all materials to the Exchange in order to satisfy the Exchange's listing conditions as soon as possible.  Trading in the common shares of LW CPI was halted as of January 2, 2014 in anticipation of the Transaction.  Once the Exchange's final listing conditions are satisfied the Exchange will issue a final Exchange Bulletin and the trading halt will be lifted on the second business day thereafter.  A further press release will be issued following closing of the Transaction. 

Following closing of the Transaction, the shares are expected to list on the Exchange under the symbol "TWD".

Completion of the Transaction is subject to a number of conditions, including but not limited to acceptance by the Exchange. There can be no assurance that the Transaction will be completed as proposed or at all.    

Investors are cautioned that, except as disclosed in the filing statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Forward-Looking Information

This press release contains forward-looking information based on current expectations.  Statements about the closing of the Transaction and the expectations regarding listing on the Exchange are all forward-looking information.  These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. LW CPI and Tweed assume no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Neither 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: LW Capital Pool Inc.

Bruce Linton, Chairman, Tweed Inc., [phone]; Deborah Weinstein, Director, LW Capital Pool Inc., [phone] ex 202