Business
C21 Investments Announces Completion of Non-Dilutive Creation and Issuance of Subordinate Voting Shares
Vancouver, British Columbia--(Newsfile Corp. - September 8, 2025) - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, today announced the completion of a transaction (the "Transaction") pursuant to which the Company has amended its authorized share structure and Articles to create a new class of subordinate voting shares ("Subordinate Voting Shares") and issued 100,000,000 of such newly created Subordinate Voting Shares on a...
About this update from C21 Investments Inc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - September 8, 2025) - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, today announced the completion of a transaction (the "Transaction") pursuant to which the Company has amended its authorized share structure and Articles to create a new class of subordinate voting shares ("Subordinate Voting Shares") and issued 100,000,000 of such newly created Subordinate Voting Shares on a private placement basis to Michael Kidd, the Chief Financial Officer, Corporate Secretary and a Director of the Company (the "Placee"), a resident of Canada, for aggregate consideration of $100 (representing a price of $0.000001 per Subordinate Voting Share).","length":804,"tagName":"p"},{"type":"text","content":"The 100,000,000 Subordinate Voting Shares issued as a result of the Transaction represent the same economic interest and voting rights as 100 Common Shares of the Company, and will not impact in any way the economic or voting rights of the 117,772,814 Common Shares outstanding as of the date of this news release.","length":314,"tagName":"p"},{"type":"text","content":"The purpose of the Transaction was to ensure the Company maintains its status as a "foreign private issuer" in the United States as defined in Rule 3b-4 under the Securities Exchange Act of 1934, as amended (a "Foreign Private Issuer") in order to reduce compliance costs.","length":292,"tagName":"p"},{"type":"text","content":"In addition to such special rights and restrictions attaching to the Subordinate Voting Shares (the "Special Rights and Restrictions") as further set out below, each Subordinate Voting Share is convertible into 0.000001 of a common share of the Company (each, a "Common Share"), subject to adjustment as set forth in the Special Rights and Restrictions.","length":373,"tagName":"p"},{"type":"text","content":"The terms of the Subordinate Voting Shares and the Special Rights and Restrictions attaching thereto are as follows:","length":116,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Pursuant to the Transaction, the Company created an unlimited number of Subordinate Voting Shares without par value, each of which is initially convertible at ...