Poda Announces Proposed Name Change and Proposed New Corporate Structure

VANCOUVER, BC- PODA LIFESTYLE AND WELLNESS LTD.  (CSE: PODA)(FSE: 99L)(OTC: PODAF) announced that its Board of Directors has approved a change of the Company’s name from “Poda Lifestyle & Wellness Ltd.” to “Poda Holdings, Inc.” to better reflect the Company’s current and future business interests. The proposed name change remains subject to the approval of the Canadian Securities Exchange.

There is no consolidation of the Company’s share capital in connection with the planned name change. The proposed name change will not affect the Company’s share structure or the rights of the Company’s shareholders. No action is required from shareholders in connection with the proposed name change.

In addition to the intended name change, the Company is also pleased to announce plans for a new corporate structure, whereby the Company will create six strategic subsidiaries, each focused on specific growth areas of the Company. The proposed names for the six subsidiaries are as follows: Poda (Tobacco), Inc., Poda (Alternatives), Inc., Poda (Therapeutics), Inc., Poda (THC), Inc., Poda (CBD), Inc., and Poda (Research and Development), Inc..

Poda’s CEO, Ryan Selby, commented, “This proposed name change is consistent with our business objectives and our long-term strategy. Our valuable intellectual property has applicability across a wide-ranging scope of applications, and I believe the name Poda Holdings, Inc. more accurately serves the over-arching vision the Board has for the Company. In addition to the name shift, creating the six new subsidiaries will provide strategic focus and strong growth opportunities in each of the target opportunities. I look forward to sharing more information about our customized strategies for each subsidiary over the coming weeks.”

On Behalf of the Board,
Ryan Selby
CEO, Director, and Chairman of the Board

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable securities laws. Although Poda Lifestyle believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Poda Lifestyle can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. Poda Lifestyle undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Poda Lifestyle, its securities, or financial or operating results (as applicable). Poda Lifestyle 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.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

(This information is primarily sourced from Poda Lifestyle and Wellness Ltd. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).