KARIANA HALTS STOCK FOR FUNDAMENTAL CHANGE

 
 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

KARIANA RESOURCES INC.

Suite 1980, 1075 West Georgia Street Vancouver, British Columbia, V6E 3C9 Telephone: (604) 688-9588; Fax: (778) 329-9361

PRESS RELEASE

December 16th, 2014
KARIANA HALTS STOCK FOR FUNDAMENTAL CHANGE

CSE: KAA

Vancouver, B.C., – KARIANA RESOURCES INC. (CSE: KAA) (“Kariana” or the “Company”)

reports that it has halted its stock in light of signing a binding term sheet to acquire all of the issued and outstanding common shares of Canna Delivery Systems Inc. (the “Transaction”). The Transaction will constitute a “fundamental change” for the Company pursuant to the policies of the Canadian Securities Exchange (the “CSE”) and is subject to approval of the CSE.

It is currently expected that the Company will obtain shareholder approval of the Transaction by way of a shareholder consent resolution. It is expected that trading in the Company’s securities will remain halted pending completion of the Transaction.

“We are very excited with our transaction with Canna Delivery Systems,” commented David Velisek, CEO and a Director of Kariana. “This opportunity provides a robust business case and experienced new management to Kariana. We eagerly await the new business opportunity for Kariana going forward.”

On behalf of the board of directors of Kariana Resources Inc.,

“David Velisek”

David Velisek
President, CEO & Director

FOR MORE INFORMATION, PLEASE CONTACT:

David Velisek

david.velisek@barongroupintl.com

604-688-9588

The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, Kariana will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities.