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Cannara Announces Normal Course Issuer Bid for Common Shares of the Corporation
Cannara Announces Normal Course Issuer Bid for Common Shares of the Corporation Canada ...
About this update from Cannara Biotech, Inc.
[{"type":"text","content":"\n \n \n \n Cannara Announces Normal Course Issuer Bid for Common Shares of the Corporation\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 Nov. 30, 2022\n \n \n /CNW/ -\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 , today announced that the Company filed with the TSX Venture Exchange (\"the \"TSX-V\") a Notice in respect of a normal course issuer bid (the \"NCIB\") to be transacted through the facilities of the TSX-V.\n \n \n \n \n \n \n \n \n \n Pursuant to the NCIB, Cannara may purchase up to 15,000,000 of its common shares (the \"Shares\") representing approximately 1.7% of the total 877,481,321 common shares of Cannara issued and outstanding as at\n \n November 30, 2022\n \n . Purchases will be made at prevailing market prices commencing\n \n December 3, 2022\n \n and ending\n \n December 2, 2023\n \n .\n \n \n Cannara believes that the purchase of the Shares would be an effective use of its funds and that the Company's publicly traded Shares are currently undervalued in the market. The Company expects that the purchase of Shares will benefit remaining shareholders by increasing their equity interest in the Company's assets.\n \n \n The price which the Company will pay for any Shares under the NCIB will be the market price at the time of acquisition. During the period of the NCIB, the Company may make purchases under the NCIB by means of open market transactions or otherwise as permitted by the TSX-V. All purchases under the NCIB will be purchased on the open market through the facilities of the TSX-V at the prevailing market price at the time of such transaction. Any Shares purchased by the Company will be cancelled.\n \n Raymond James\n \n ltd. will conduct the bid on behalf of the Company. The actual number of...