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Acquisition of Common Shares of Cannara Biotech Inc.
Acquisition of Common Shares of Cannara Biotech Inc. Canada NewsWire ...
About this update from Cannara Biotech, Inc.
[{"type":"text","content":"\n \n \n \n Acquisition of Common Shares of Cannara Biotech Inc.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n Sept. 1, 2022\n \n \n /CNW Telbec/ -\n \n Cannara Biotech Inc.\n \n (\"\n \n Cannara\n \n \" or the \"\n \n Company\n \n \") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with one of the largest indoor cannabis cultivation facilities in\n \n Canada\n \n and the largest in\n \n Quebec\n \n , announced that on\n \n August 31, 2022\n \n ,\n \n Derek Stern\n \n , a director and principle shareholder owning more than 10% of the issued and outstanding common shares (\"\n \n Common Shares\n \n \") of Cannara, acquired 720,000 common shares (\"\n \n Purchased Shares\n \n \") in the capital of Cannara, representing approximately 0.08% of the Common Shares in the capital of the Company (the \"\n \n Acquisition\n \n \").\n \n \n \n \n \n \n \n \n \n The Purchased Shares were acquired through normal course purchases through the facilities of the TSX Venture Exchange for\n \n $0.112\n \n Canadian dollars per Purchased Shares, for an aggregate amount equal to\n \n $80,285\n \n Canadian dollars.\n \n \n Prior to the Acquisition, Mr. Stern, through controlling interests in Olymbec Investments Inc., directly and indirectly, owned 163,650,184 Common Shares and 100,000 options to purchase Common Shares (\"\n \n Options\n \n \"), representing approximately 18.66% of issued and outstanding Common Shares on a partially diluted basis. After the Acquisition, Mr. Stern, through controlling interests in Olymbec Investments Inc., directly and indirectly, owns 164,370,184 Common Shares and 100,000 Options, representing approximately 18.74% of the issued and outstanding Common Shares on a partially diluted basis.\n \n \n Mr. Stern acquired the Purchased Shares for investment purposes. Mr. Stern may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities or may continue...