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Company Additionally Implements its 2020 European Agronomical Initiatives and Novel aliment Application
VANCOUVER, BC / ACCESSWIRE / June 3, 2020 / Stillcanna Inc. (OTC PINK:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) (“STIL” or the “Company”), is admiring to advertise that it has alive a absolute acceding (the “Definitive Agreement”) to admission Sativa Accumulation PLC, one of the United Kingdom’s (the “UK”) aboriginal medical Cannabis Companies (the “Proposed Transaction”).
Further to the announcements fabricated on 21 April 2020 and 20 May 2020, the boards of admiral of Stillcanna Inc. (“Stillcanna”) and Sativa Accumulation Plc (“Sativa”) are admiring to advertise that they acquire accomplished acceding on the agreement of a recommended allotment for allotment barter action to be fabricated by Stillcanna for the absolute issued and to be issued allotment basic of Sativa (the “Offer”).
The Stillcanna shares acquire been apoplectic from trading on the CSE with aftereffect from bazaar accessible on 22 April 2020 awaiting achievement of the Offer, back the accumulated accumulation will resume trading beneath its accepted issuer name, Stillcanna Inc. In addition, Stillcanna intends to broadcast a filing account afterwards this ages in account of the acquisition, which will be accessible on SEDAR (www.sedar.com), beneath Stillcanna’s absolute issuer profile.
Completion of the Proposed Transaction will be accountable to Stillcanna accepting the approval of the CSE, as able-bodied as the approval of a majority of Stillcanna shareholders at the Stillcanna actor affair to be captivated as anon as accessible pursuant to the behavior of the CSE. Aural the abutting day appropriate affidavit will be on Stillcanna’s website at www.stillcanna.com and on Sativa’s website at www.sativagroup.co.uk.
Sativa’s and Stillcanna’s behavior and visions for the Cannabis industry are aligned, and both companies feel acerb that alone a absolutely chip berry to customer business will acquire the pricing, products, and adherence to accommodated the cannabis bazaar appeal in the average term.
The Action is a allotment for allotment barter action at a arrangement of about 0.33507 (the “Exchange Ratio”) new Stillcanna shares in barter for anniversary allotment of Sativa. The Barter Arrangement attributes an adumbrated bulk for the absolute issued allotment basic of Sativa of about £10,409,022 (based on the closing bulk of CAD0.095 per Stillcanna Allotment on 21 April 2020).
Following achievement of the Proposed Transaction, it is advised that the Stillcanna Lath will be fabricated up of 6 directors. This will be comprised of Jonathan Wearing as Non-Executive Chairman (Sativa’s absolute Non-Executive Chairman), Henry Lees-Buckley as Chief Executive Officer (Sativa’s absolute Chief Executive Officer) and Joseph Colliver as Chief Financial Officer (Sativa’s absolute Chief Financial Officer), and Non-Executive Admiral consisting of Angus Kerr, Mark Blower (each non-executive admiral of Sativa) and Jason Dussault (Stillcanna’s absolute Chief Executive Officer). Geremy Thomas (Sativa’s absolute Non-Executive Deputy Chairman) has adopted to footfall bottomward from the Lath of Sativa and will abide to accommodate admonition on action and advance as a adviser to the accumulated group. Anniversary of Shae de Jaray, Bill MacDonald and Warren Robinson will footfall bottomward as admiral of Stillcanna. However, it is advancing that they shall abide to accommodate abutment to the Stillcanna Lath activity forward, as consultants. Anne Tew (Sativa’s absolute Company Secretary) will accomplish the role of Corporate Secretary of the accumulated group.
Stillcanna will abide to trade, or contrarily be quoted on the CSE, OTC and FSE afterward achievement of the Proposed Transaction and trading in Stillcanna shares is accepted to resume afterward achievement accepted in August 2020. In addition, Stillcanna intends to account the Stillcanna Shares on the AQSE on or anon afterwards the closing of the Proposed Transaction in adjustment to advance admission to the AQSE for shareholders of the accumulated group. Admission for trading on the AQSE is accountable to Stillcanna acceptable the authoritative requirements of the AQSE.
“Trust is the best important article a cast charge annex and advance to be successful,” declared Jason Dussault CEO of Stillcanna, “this is abnormally acute in a beginning area such as CBD wellness. The alliance of the Sativa Accumulation Plc and Stillcanna Inc. will defended this article through the administration of this appropriate cannabinoid from berry through to agronomics and extraction, and now testing, bottling and distribution.”
“We are absolute aflame about the aggregate of the Sativa Accumulation PLC and Stillcanna Inc. This creates a authentic European “seed to consumer” CBD wellness and alleviative cannabis group; cultivating and extracting the accomplished affection CBD, through to developing and bearing the accomplished affection accomplished customer products. This chip admission authentic by optimized assembly capabilities and class testing allows us to position our brands for able sales advance not alone in the UK but above Europe”, comments Henry Lees-Buckley, CEO of the Sativa Accumulation PLC.
Stillcanna is admiring to advertise that it has amorphous its agronomical initiatives in Europe to defended a abiding availability of hemp biomass for the Company’s NEXUS abstraction adeptness in Poland for 2020 and 2021.
This year the Company has taken a multi-pronged admission to its agriculture initiatives including burying on certified amoebic land. The Company’s certified amoebic action could crop up to 100,000 kilos of exceptional amoebic hemp. Having a certified amoebic artefact allows Stillcanna to admission a added ambit of specialty customers.
Stillcanna forth with its own agronomical efforts in Poland has agreements with assorted European based hemp farmers to assure the Company aerial CBD agreeable EU adjustable hemp biomass for 2020. All of the Company’s own biomass will be farmed organically and chase Good Agriculture Practices. The Company anticipates processing a minimum of 18,000 kilos of biomass in its Polish adeptness every ages but could bifold that bulk should the bazaar appeal be there.
The Company’s action of application its own agriculture complimented with agronomical partnerships is advised to assure the Company admission to accomplished CBD agreeable biomass accessible in Europe, while abbreviation agronomical risks.
The Company is additionally admiring to advertise it has amorphous its Novel Aliment Application and has assassin All-around Authoritative Services of the UK, an accolade acceptable all-around consulting close with a specialty in Novel Aliment applications. Stillcanna is accessible to abide its alive capacity for both adherence and toxicology. As appropriate aural assertive EU markets Stillcanna intends to acquire its Novel Aliment Application authentic above-mentioned to the March 2021 borderline and abide bazaar adjustable in 2021 and beyond.
“We abide to clarify our agronomical initiatives to accumulate the best aerial CBD agreeable hemp for the everyman costs accessible in Europe. Whether it’s our own Polish agriculture or our agreements and cooperation with added farmers our plan will ensure a abiding accumulation of hemp for our abstraction accessories in Europe. We attending advanced to column COVID-19 and starting up accomplishment at calibration in both Poland and Romania,” commented Stillcanna CEO Jason Dussault.
About Sativa Accumulation PLC
The Sativa Accumulation PLC abutting the UK’s NEX bazaar in March 2018 as the UK’s aboriginal alleviative cannabis advance vehicle.
The business acquired to focus on the development of an operational business capitalizing on its first-mover advantage. This change transitioned the Company from an advance Company to an operating Company at the beginning of both the CBD wellness and alleviative cannabis sectors in the UK.
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage activity sciences Company focused on the ample calibration accomplishment of CBD in Europe. The Company believes its proprietary bookish acreage allows it to abstract CBD at a lower cost. The Company has alive an antecedent abstraction arrangement in Europe to be the absolute extractor for Dragonfly Biosciences LLC, a United Kingdom-based supplier of CBD. The Company additionally afresh completed the accretion of Olimax NT SP. Z .O.O, a multi-generational hemp agronomical close that is accepted to access the Company’s bazaar allotment in the European CBD industry.
On Behalf of the Board
Jason Dussault, CEO
Neither the Canadian Balance Barter nor its Bazaar Regulator (as authentic in the behavior of the Canadian Balance Exchange) acquire albatross for the capability or accurateness of this release.
This account absolution contains assertive “forward-looking information” aural the acceptation of applicative Canadian balance legislation and may additionally accommodate statements that may aggregate “forward-looking statements” aural the acceptation of the safe anchorage accoutrement of the United States Private Balance Litigation Reform Act of 1995. Such advanced advice and advanced statements are not adumbrative of absolute facts or advice or accepted condition, but instead represent alone the Company’s behavior apropos approaching events, affairs or objectives, abounding of which, by their nature, are inherently ambiguous and alfresco of Stillcanna’s control. Generally, such advanced advice or advanced statements can be articular by the use of advanced analogue such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may accommodate statements that assertive actions, contest or after-effects “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”.
The advanced advice and advanced statements independent herein include, but are not bound to advice apropos the Absolute Agreement, the Proposed Transaction, the advancing achievement of the Proposed Transaction, the approval of the Proposed Transaction by the Canadian Balance Barter and assertive actor and authoritative requirements, the adeptness of the Company to accommodated the cannabis bazaar appeal in the average term, the agreement of the lath afterward achievement of the Proposed Transaction, the advertisement of the Company’s accepted shares on the AQSE, the adeptness to defended a abiding availability of hemp biomass for the Company’s NEXUS facility, the Company’s agriculture initiatives, whether the hemp biomass will be farmed organically, agronomical partnerships and the Company’s address to abide its alive capacity for both adherence and toxicology. Although Stillcanna believes that the assumptions and factors acclimated in preparing, and the expectations independent in, the advanced advice and statements are reasonable, disproportionate affirmation should not be placed on such advice and statements, and no affirmation or agreement can be accustomed that such advanced advice and statements will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such advice and statements.
In particular, there is no agreement that that the parties will auspiciously complete the Proposed Transaction on the agreement advised herein or at all, that either will be annoyed with the after-effects of their proposed due diligence, or that any appropriate actor or authoritative approvals will be obtained. The advanced advice and advanced statements independent in this account absolution are fabricated as of the date of this columnist release, and Stillcanna does not undertake to amend any advanced advice and/or advanced statements that are independent or referenced herein, except in accordance with applicative balance laws
SOURCE: Stillcanna Inc.
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