Poda Lifestyle and Wellness’ board of directors approved a proposal to change the company’s name from Poda Lifestyle and Wellness Ltd. to Poda Holdings Inc. The 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.
In addition to the intended name change, the company also announced 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 Poda (Tobacco), Poda (Alternatives), Poda (Therapeutics), Poda (THC), Poda (CBD) and Poda (Research and Development).
“This proposed name change is consistent with our business objectives and our long-term strategy,” said Poda CEO Ryan Selby in a statement. “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 overarching 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.”