PotNetwork Holdings, Inc. Withdraws Form 10 due to Unrelated PCAOB Action Against Its Auditor – Refiling Planned

FT LAUDERDALE, Fla., July 22, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE – PotNetwork Holdings, Inc. (OTC Pink:POTN) announced today that the Company on July 20th  filed a request with the Securities and Exchange Commission (“SEC”) for the SEC to issue an order to allow the Company to withdraw its Form 10 Registration Statement and its exhibits filed on July 13th (collectively, the “Registration Statement”). The Company plans to file a revised Registration Statement as quickly as possible. 

The Company made the request after being informed by its auditing firm, East-West Accounting Services, LLC, Princeton, Florida, that it had lost its PCAOB certification as a result of a PCAOB disciplinary order specific to deficiencies in an audit conducted in 2015 for an unrelated Dallas, Texas company.

The withdrawal request was not the result of any discovery of accounting or other irregularities or issues with the Company’s filed Registration Statement. A new PCAOB member accounting firm will be announced the week of July 23rd to re-certify the Company’s audited financial statements to be included in a new Form 10 filing.

About Diamond CBD Inc.: Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.

About PotNetwork Holdings, Inc: PotNetwork Holdings, Inc. (OTC Pink:POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils.

Safe Harbor: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: PotNetwork Holdings, Inc. Investor Relations: Marisol Elwell

1-800-915-3060 investor@PotNetworkHolding.com

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