Business
Cannara Announces Strategic C$6.3 Million Non-Brokered Private Placement Priced at C$2.10 per Common Share 
MONTREAL, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. (“ Cannara ”, ...
About this update from Cannara Biotech, Inc.
[{"type":"text","content":"Cannara Announces Strategic C$6.3 Million Non-Brokered Private Placement Priced at C$2.10 per Common Share \nMONTREAL, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. (“Cannara”, “the Company”, “us” or “we”) (TSXV: LOVE) (OTCQX: LOVFF) (FRA: 8CB0), a vertically integrated producer of premium-grade cannabis products at affordable prices with two mega facilities based in Québec spanning over 1,600,000 sq. ft., is pleased to announce it has completed a strategic, non-brokered private placement with Phoenician Capital LLC (“Phoenician”). Pursuant to the terms of a subscription agreement, Phoenician has agreed to subscribe for 3,000,000 common shares of the Company (the “Common Shares”) at a price of C$2.10 per Common Share, for proceeds of C$6,300,000, on a non-brokered private placement basis (the “Private Placement”), subject to final acceptance of the TSX Venture Exchange (the “TSXV”). The proceeds from the Private Placement are expected to be used for working capital and strategic investments, including supporting continued capital investments into the Valleyfield Facility, expanding operations and maintaining balance sheet flexibility. The issue price of the Common Shares represents an approximate 16% premium to the Company’s closing price on February 3, 2026, the last trading day prior to the announcement of the Private Placement. “This strategic investment supports the next stages of expansion at our Valleyfield operations,” commented Zohar Krivorot, Chief Executive Officer of Cannara. “Phoenician’s long-term, fundamentals-driven investment approach aligns well with our strategy and governance philosophy. Their decision to invest at a premium reflects confidence in our operating model and our disciplined plan to scale.” “We are pleased to support Cannara at this stage of its growth,” said John Khabbaz, Founder and Chief Investment Officer of Phoenician. “Cannara has built a differentiated platform with a clear focus on operational discipline and long-term value creation. We look forward to partnering with management as the Company continues to execute on its strategic objectives.” The Common Shares issued in connection with t...