Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Canada
  4. CANADIAN NATIONAL STOCK EXCHANGE
  5. Goodbody Health
  6. News
  7. Summary
    SWEL   CA3821591011

GOODBODY HEALTH

(SWEL)
Delayed CANADIAN NATIONAL STOCK EXCHANGE  -  09:53 2022-08-17 am EDT
0.1500 CAD   -.--%
10/03Goodbody Health Announces Distribution Agreement with Tasso
CI
08/22Goodbody Health Inc publishes half year reports
AQ
08/22GOODBODY HEALTH INC. : REVERSE SPLIT: 1 of 10
FA
SummaryQuotesChartsNewsRatingsCalendarCompanyFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Stillcanna : Acquisition of Sativa Group PLC of the United Kingdom Receives 99% Shareholder Approval from Sativa

08/19/2020 | 01:52pm EDT

Vancouver, British Columbia - (Accesswire) - August 19, 2020- Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ('STIL' or the 'Company'), is pleased to announce that the shareholders of Sativa Group PLC, one of the United Kingdom's (UK) first medical Cannabis Companies, have overwhelmingly voted in favour of the acquisition.

On August 27, 2020 Stillcanna is holding a special meeting of its shareholder to vote on the Sativa Group acquisition. It is anticipated that Stillcanna shares will resume trading the first week of September.

The details of the acquisition were previously announced on June 3, 2020. Stillcanna will continue to trade, or otherwise be quoted on the CSE, OTC and FSE following completion of the acquisition. Stillcanna intends to list the Stillcanna shares on the AQSE on or shortly after the effective date in order to maintain access to the AQSE for shareholders of the combined group. This is subject to Stillcanna completing the relevant admission process with the AQSE.

'I am delighted the Sativa shareholders have so fully embraced our proposed acquisition of the Sativa Group of Companies,' stated Jason Dussault CEO of Stillcanna. We are fast approaching the final stages of this acquisition and the entire Stillcanna team looks forward to monetizing on the combined strengths of the new entity.'

As previously announced on April 21, 2020 all required licenses and permits to commence the manufacturing of CBD at the ORIGIN extraction facility have been secured. The facility was constructed through a joint venture partnership with Dragonfly Biosciences Limited of the UK. Borganic Consulting had initiated legal action in the UK against Dragonfly Biosciences for contractual breaches under the partnership agreement.
Further to the announcement on April 21, 2020 Stillcanna Inc.'s subsidiary Borganic Consulting Inc. ('Borganic') has, with immediate effect today, terminated its Joint Venture agreement dated December 4, 2018 with Dragonfly Biosciences Limited ('Dragonfly').

The termination includes a claim for Dragonfly's share of the Joint Venture extraction facility.

Proceedings issued in the English High Court have also been served by Borganic today on Dragonfly and also on Ms Radostina Draganova-Nikolova, a director of Dragonfly and general manager of the Joint Venture company.

In the proceedings served by Borganic it seeks declarations from the English High Court that:

1) Dragonfly has materially and persistently breached the Joint Venture agreement which constitutes a compulsory transfer event in favour of Borganic;
2) The notice of termination and compulsory transfer event served by Dragonfly on August 3, 2020 is null and void; and
3) Borganic retains ownership in the equipment it has financed at the Joint Venture extraction facility.

Borganic also claims damages against Dragonfly for the losses it has suffered as a result of Dragonfly's alleged breaches of the Joint Venture agreement.

About Sativa Group PLC
The Sativa Group PLC joined the UK's NEX market in March 2018 as the UK's first medicinal cannabis investment vehicle.

The business evolved to focus on the development of an operational business capitalizing on its first-mover advantage. This change transitioned the Company from an investment Company to an operating Company at the forefront of both the CBD wellness and medicinal cannabis sectors in the UK.

About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences Company focused on the large scale manufacturing of CBD in Europe. The Company believes its proprietary intellectual property allows it to extract CBD at a lower cost. The Company has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly Biosciences LLC, a United Kingdom-based supplier of CBD. The Company also recently completed the of Olimax NT SP. Z .O.O, a multi-generational hemp agricultural firm that is expected to increase the Company's market share in the European CBD industry.

On Behalf of the Board
Jason Dussault, CEO
CONTACT:
inquiries@stillcanna.com

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.

This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Stillcanna's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology 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 contain statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'will continue', 'will occur' or 'will be achieved'.

The forward-looking information and forward-looking statements contained herein include, but are not limited to information concerning the Proposed Transaction or the approval of the Proposed Transaction by the Stillcanna shareholders and certain shareholder and regulatory requirements. Although Stillcanna believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.

In particular, there is no guarantee that that the parties will successfully complete the Proposed Transaction on the terms contemplated herein or that all required shareholder or regulatory approvals will be obtained. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and Stillcanna does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Disclaimer

Stillcanna Inc. published this content on 19 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2020 17:51:03 UTC


© Publicnow 2020
All news about GOODBODY HEALTH
10/03Goodbody Health Announces Distribution Agreement with Tasso
CI
08/22Goodbody Health Inc publishes half year reports
AQ
08/22GOODBODY HEALTH INC. : REVERSE SPLIT: 1 of 10
FA
08/19Goodbody Health : Publishes Half Year Financial Results Q2 2022
PU
08/19Goodbody Health : 2022 financial statements – June 30 2022 Q2 Final
PU
08/19Goodbody Health : Management's Discussion and Analysis – Q1 June 30 2022
PU
08/18Goodbody Health Inc. Reports Earnings Results for the Second Quarter and Six Months End..
CI
08/16Cse Bulletin : Delist - Goodbody Health Inc. (GDBY)
NE
08/10Goodbody Health : Provides Annual General and Special Meeting of Shareholders Update
PU
07/14Goodbody Health : Announces Annual General and Special Meeting of Shareholders
PU
More news
Chart GOODBODY HEALTH
Duration : Period :
Goodbody Health Technical Analysis Chart | MarketScreener
Full-screen chart
Managers and Directors
Marc Richard Howells Chief Executive Officer & Director
Anne Tew Chief Financial Officer & Director
Geremy Howard Prance Thomas Executive Chairman
Mark Blower Non-Executive Director
Clive Thomas Standish Non-Executive Director