Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
Business

AYURCANN HOLDINGS CORP. Provides Corporate Updates, The Canadian Business Journal

TORONTO, ON OCTOBER 17, 2022 (GLOBE NEWSWIRE) — Ayurkan Holdings Co., Ltd. (CSE: Ayur, OTCQB: CDCLF, FSE: 3ZQ0) (“Ayurkan” or “Company”) is a leading Canadian cannabis extraction company specializing in the processing and co-manufacturing of pharmaceutical-grade cannabis and hemp to produce a range of derivative cannabis 2.0 and 3.0 products for the medical and recreational markets, and the first We announce that we have completed the shipment. Ontario Cannabis Store (“OCS shipping”). The OCS shipment marks Ayurcan’s entry into the cannabis flower segment in Canada.

The company also works with provincial boards across the country to oversee the retail sale and distribution of cannabis in each province and territory of Canada, and has been rewarded with a new inventory management unit (“SKUs”). His new SKU offers high-potency flowers, distillate vases, concentrates and tinctures.

early warning Disclosure

On October 17, 2022, the Company acquired 2388765 Ontario Inc. (“238) and IIPAC Inc. (“IIPAC”) $60,000 (“transaction”). As part of the transaction, 238 and IIPAC each converted $30,000 of their respective debt owed by the company into his 475,435 shares of common stock in the company’s capital (“common stock”), at a deemed price of $0.0631 per common share. Common stock issued in connection with this transaction is subject to a statutory holding period of four months and one day from the date of issuance.

Prior to the closing of the transaction, 238, together with its co-actor (Igal Sudman), beneficially owned a total of 26,419,989 common shares, of which 12,487,887 common shares were owned directly by 238 and 13,932,102 common shares were owned directly by 238. common shares were owned by its co-actors). represent approximately 17.12% of the total number of common shares outstanding on an undiluted and partially diluted basis. IIPAC, together with its partner (Roman Buzaker), effectively acquired a total of 26,127,707 shares of common stock (of which 12,487,887 shares of common stock were owned directly by IIPAC and 13,639,820 shares of common stock were owned by its partners). owned approximately 16.93% of the total. Common shares outstanding on an undiluted and partially diluted basis.

Following the closing of the transaction, 238, together with its joint entities, retains ownership and control of 26,895,424 ordinary shares (of which 12,963,322 ordinary shares are owned directly by 238 and 13,932,102 ordinary shares are owned by owned by that joint entity). Represents approximately 17.43% of the total number of common shares outstanding on an undiluted and partially diluted basis. IIPAC, together with its joint entities, currently owns and owns a total of 26,603,142 shares of common stock (of which 12,963,322 shares of common stock are owned directly by IIPAC and 13,639,820 shares of common stock are owned by its joint entities). It has a controlling interest, representing approximately 17.24% of the total. Common shares outstanding on an undiluted and partially diluted basis.

Mr. Sudman and Mr. Buzaker each recently filed early warning reports according to National Instrument 62-104. Takeover Bid and Issuer Bid March 26, 2021 (collectively, “previous EWR”). Since then, the Company has issued shares of common stock in various transactions resulting in a reduction of his combined holdings of 238 shares and together with his partners of IIPAC by more than 2% each. Did. As of the date of the previous EWR, 238 and IIPAC directly or indirectly controlled or directed 23,816,919 and 23,144,624 common shares, representing 23.59% and 22.92% of the outstanding common shares. was exercising .

The shares of common stock acquired pursuant to the Transaction were acquired by each of 238 and IIPAC for investment purposes and, subject to market and other conditions, each of 238 and IIPAC may in the future acquire ownership and control of each of them. may be increased or decreased at any time. or directing the company’s securities by market deal, private contract, or otherwise.

Early Warning Reports, which comply with the requirements of applicable securities laws, are issued separately by each of 238 and IIPAC and are posted on SEDAR at www.sedar.com and are available upon request at the numbers and addresses below. . For more information, including a copy of the early warning reports required to be filed by each of 238 and IIPAC as a result of the transaction under applicable Canadian securities laws, please contact the Chief Executive at 905-492-3322. Please contact his Igal Sudman in charge. Roman Buzaker, Chief Financial Officer, 905-492-3322. For the purposes of this notice, the address for 238 and IIPAC is 1080 Brock Road, Unit 6, Pickering, Ontario L1W 3H3.

Our corporate headquarters are at 1080 Brock Road, Unit 6, Pickering, ON L1W 3H3.

about Ayurkan Holdings Co., Ltd.

Ayurcann is a leading provider of post-harvest solutions focused on providing and creating custom processes and pharmaceutical grade products for the adult and medical cannabis industries in Canada. Ayurcann strives to be the partner of choice for leading Canadian and international cannabis brands by offering unique best-in-class services including extraction, formulation, product development and custom manufacturing.

For more information, please contact:

Ayurcan Holdings Co., Ltd.
Igal Sudman, CEO
905-492-3322
[email protected]

Investor Relations:

Email: [email protected]

both CSE In addition, that regulated service provider has not reviewed or assumed responsibility for the adequacy or accuracy of this document. news release.

this push Release included Forward-Looking Statements Within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified using forward-looking terms such as: schedule, strategy, expect Also Do not expect, intended, Continue, anticipate Also don’t expectAlso I believeor variations of such words or phrases, or may contain statements about a particular action, event, or outcome will be filmed, start up Also start up, included, will be able, can make it, right continue, occurs Also is achievedForward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the following: of Company Recruitment New SKUs in Potent Flower, Distillate Arc, Concentrate, Tincture; When ability of Company Become the partner of choice for major Canadian and international cannabis brands We offer best-in-class, proprietary services including extraction, formulation, product development and custom manufacturing.

The forward-looking information in this news release is based on certain assumptions and expected future events. Company You will be able to expand and maintain your production capacity.continued approval of Company’Relevant governmental and/or regulatory activities.continued growth of Company; of Company’Successfully implemented strategies to increase market share cannabis industry; of Company’Continued ability to meet the requirements necessary to remain listed CSE and alternate replacement; Company product salest To Applicable law and rule; of Company successful distribution of new SKUs; of Company Expanding exposure, consumer and retail partnerships, and market share nationwide. Ayurkan Maintain a path of continuous growth.of Company maintain and build relationships with retailers, Become the partner of choice for major Canadian and international cannabis brands. We offer best-in-class, unique services.

These statements involve known and unknown risks, uncertainties and other factors and no actual results, performance or achievements may be expressed or implied by such statements. can vary greatly. Company’Inability to expand and/or maintain production capacity.potential powerlessness of Company To continue as a going concern. Risks associated with the cannabis industry in general. Increased competition in the cannabis extract market.potential future non-viability of the cannabis market; risks associated with potential governmental and/or regulatory action regarding the cannabis industry; Company’Inability to obtain continued regulatory approval; of Company’Inability to meet the requirements necessary to remain listed CSE and alternate replacements; of Company’not sell this is Cannabis flower products that comply with Applicable Laws and Regulations; of Company’Can not do it grow and increase sales for Ayurkan; of Company’incompetence of maintain a continuous path of growth; of Company’Can not do it Secure funding for new and existing integration, development and distribution SKUs; When of Company’Can not do it safe add partnership Become the partner of choice for major Canadian and international cannabis brands.

Readers should note that the preceding list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements. Because there is no guarantee that the plans, intentions or expectations on which they are placed will come true. Although such information was believed to be reasonable by management at the time it was prepared, it may prove to be inaccurate and actual results may differ materially from those projected.

Any forward-looking statements contained in this news release are expressly qualified by this cautionary statement and Company’Forecasts as of the date of this document and are subject to change.of Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, results or otherwise, or subsequent actual events and such forward-looking statements. assumes no obligation to describe any material differences between the forward-looking information and Where required by applicable law.


CBJ Newsmaker

AYURCANN HOLDINGS CORP. Provides Corporate Updates, The Canadian Business Journal

Source link AYURCANN HOLDINGS CORP. Provides Corporate Updates, The Canadian Business Journal

Related Articles

Back to top button