CanadaBis Capital Inc. and 1926360 Alberta Ltd. (dba Stigma Pharmaceuticals) in the Final Stages of Proposed Amalgamation
CanadaBis Capital Inc. (TSXV:CANBP) (“CanadaBis” or the “Company”), an Alberta capital pool corporation listed on the TSX Venture Exchange, and 1926360 Alberta Ltd. doing business as Stigma Pharmaceuticals (“Stigma”), a recreational and medical cannabis and cannabis products company with a facility located in Red Deer, Alberta, are pleased to announce they are in the final stages of completing their amalgamation (the “Amalgamation”). This Amalgamation will constitute a Qualifying Transaction of CanadaBis and upon completion thereof CanadaBis will be a Tier 2 Life Sciences Issuer. Under the CPC Policies, CanadaBis was to have completed its Qualifying Transaction by March 11, 2019. The recent announcement relating to the suspension of trading relates to CanadaBis missing this deadline. However, CanadaBis has an additional 90 days from that date and fully intends to complete the above noted transaction. Trading of the shares of CanadaBis will remain suspended until the Qualifying Transaction is completed.
About Stigma – Stigma has developed a commercial “craft cannabis” grow facility located on land it purchased in the Red Deer County. Stigma currently has 42 proprietary cannabis varieties with a wide range of terpene and potency profiles. It holds a lease and option to purchase a 66,000sq ft facility located on its lands. The facility has currently been built out for 22,000sq ft of cultivation to meet demands of recreational cannabis, as well as medicinal consumption needs. The facility is currently set up for multiple grow rooms, drying rooms, a packaging and processing room, a shipping area and a secure product storage area.
Stigma recently received a Cultivation License and a Processing License for cannabis from Health Canada. “Phase 1” of the facility is designed to produce 1,500 kg per annum. “Phase 2” will involve the raising and investment of additional capital and an expansion to 16,000 kgs per annum. The founders of Stigma have invested over 2 years of research and development to determine optimal cannabinoid profiles and yield. Stigma has also applied for a Sales License. Stigma Pharmaceuticals looks to become one of the few vertically integrated craft companies in this market space.
All information contained in this news release with respect to CanadaBis and Stigma was supplied by the parties respectively for inclusion herein.
Completion of the Transaction is subject to a number of conditions, including but not limited to, acceptance of the Transaction by the TSX Venture Exchange. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
For further information, please contact:
Tel: (587) 356-5625
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: CanadaBis Capital Inc.
In the evolving rush of mergers and acquisitions (M&A) in the Canadian cannabis market, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced it will acquire The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) in a deal worth approximately C$435 million.
Meanwhile, a cannabis operator in the US confirmed this week that it will receive a financial boost from a partner to solidify its position in the burgeoning Pennsylvania state market.
The Board of Directors of Aphria Unanimously Recommends Shareholders Vote “For” the Arrangement
Aphria to Host Special Meeting of Shareholders on Wednesday, April 14, 2021 to Approve Proposed Aphria-Tilray Business Combination
Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), one of the UK’s leading CBD and Hemp product suppliers, announces that as part of the equity fundraise announced yesterday, Antony Calamita and Andrew Male, Directors of the Company, subscribed for 285,714 Ordinary Shares and 1,428,571 Ordinary Shares respectively. The subscriptions are at a price of 3.5 pence per ordinary share for a total of £60,000. Following these subscriptions, Antony Calamita is now interested in 54,385,714 Ordinary Shares, representing 8.61% of the Company’s share capital as increased by the fundraising, and Andrew Male is now interested in 6,138,196 Ordinary Shares, representing 0.97% of the Company’s issued share capital as increased by the fundraising
Further, the timetable for receipt of applications under the Broker Option, which was also announced yesterday, has been extended until 5:00 pm 9 April 2021 to capture additional interest which was unable to be completed yesterday.
Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, would like to provide the following dial-in information for the Company’s upcoming Annual and Special Meeting (the “Meeting”) scheduled to be held at 11:00 a.m. Eastern Daylight Time on April 12, 2021. Shareholders and proxyholders may access the Meeting via teleconference by dialing 647-723-3984 or 1-866-365-4406 from Canada or the United States, then entering participation code “8487744” followed by the pound (“#”) sign.
In consideration of the COVID-19 pandemic and the recent restrictions imposed by the Ontario Provincial Government, shareholders and proxyholders will only be able to attend the Meeting via teleconference and will not be permitted to attend the Meeting in person at the address provided on the Notice of Annual and Special Meeting of Shareholders.
Gage Cannabis Announces Exclusive Partnership With Blue River to Bring Award-Winning Cannabis Extracts to Michigan
Gage Growth Corp. (“Gage” or the “Company”) (CSE:GAGE), a leading high-quality craft cannabis brand and operator in Michigan, announced today that it has signed an agreement with Blue River™ Extracts & Terpenes (“Blue River™”) to bring the brand’s award-winning solventless technology and other trademark branded products to the state’s medical patients and cannabis consumers. The Company will have exclusive rights to Blue River™’s premium product offerings in Michigan.