Toronto, Canada – Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSX-V: KUU) reports that it continues to work towards closing the proposed €2,000,000 convertible debenture private placement financing (the “Proposed Financing”) first announced in the Company’s August 29, 2018 press release (reference is also made to the Company’s update press release of October 12, 2018). The Company has received approval from the TSX Venture Exchange (“TSX-V”) for a further 30 day extension under the TSX-V’s rules to close the Proposed Financing. The definitive purchase agreement for the Proposed Financing has been signed now, with closing of the Proposed Financing being subject to customary conditions precedent.
Kuuhubb also reports that, following the filing on SEDAR (www.sedar.com) on November 8, 2018 of the Company’s audited consolidated financial statements for the financial year ended June 30, 2018 (and related MD&A and certifications under National Instrument 52-109), the Ontario Securities Commission has now issued an order revoking the cease trade order (the “CTO”) with respect to securities of the Company. While trading in the Company’s shares on the TSX-V remains suspended as per the TSX-V’s policies, the Company has applied to the TSX-V to reinstate trading on the TSX-V as a result of the revocation of the CTO.