Toronto, ON / TheNewswire / November 25, 2016 - Big Rock Labs Inc. (“Big Rock” or the “Company”) (CSE: BLA) (FSE: BR1) is pleased to provide a corporate update.

 

After an extensive period of due diligence and because of the large capital requirements and lack of suitable and fairly-priced real estate assets, the Company has decided to abandon its original plan to become a real estate company.

 

As the Company’s board of directors has not approved the change of business from a technology company to a real estate company, Big Rock is currently exploring all strategic options for the future, including remaining a technology company but potentially bringing on a new management team and new assets. This could include a Reverse Takeover (RTO) transaction with a private company that wants to go public to fund future growth opportunities.

 

Discussions with potential candidates from a variety of industries are ongoing. An update will follow once Big Rock has reached a definitive agreement on another transaction. In the meantime, the stock of Big Rock Labs will resume trading.

 

About the Company

Big Rock Labs Inc. (CSE: BLA) (FSE: BR1) is an emerging Canadian technology company that specializes in digital product research and development. The Company is currently exploring a change of business and name change. The transaction is expected to be completed in the first half of 2017.

 

Company Contact

Harald Seemann

Telephone: +1.416.879.1989

Email: ir@bigrocklabs.com

Website: www.bigrocklabs.com

 

The CSE has not reviewed, nor approved or disapproved the content of this press release.

 

Forward-Looking Information

This press release includes forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by management of the Company, including future plans for development of the Company’s business. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.