Vancouver, British Columbia – (Accesswire) – Tuesday October 15, 2019 – Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) (“STIL” or the “Business”) announces
five,536,985 warrants have expired as of close of small business Thursday October 10, 2019.
When the Business completed its C$.25 financing in October of 2018 it issued eight,000,000 complete warrants at an exercising cost of C$.50 to these participating in the private placement along with an more 421,000 brokers warrants. As of the close of small business October 10, 2019, two,884,305 of these warrants had been exercised for total money proceeds of C$1,442,150.50.
Stillcanna presently has 109,962,392 shares outstanding, more than 10 million in money, substantial capital assets in each Romania and Poland and no debt financing. The Business does not anticipate requiring more financing to total its initial small business program.
“We are in a pretty powerful position with a wholesome balance sheet consisting of tangible assets, money and no debt,” stated Jason Dussault CEO of Stillcanna. “With our Polish NEXUS extraction facility ramping up to industrial production this quarter, our Romania ORIGIN extraction facility (a joint venture with UK primarily based Dragonfly Biosciences) constructed and awaiting final operational approvals, we have achieved a lot in the previous five months from our final financing in May perhaps 2019. Our group has been delivering upon its mandates as we appear forward to a powerful Q4 and more development by means of 2020.”
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences enterprise focused on the substantial scale manufacturing of CBD in Europe. The Business believes its proprietary intellectual home enables it to extract CBD at a reduced expense. The Business has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly Biosciences LLC, a United Kingdom-primarily based supplier of CBD. The Business also lately completed the acquisition of Olimax NT SP. Z .O.O, a multi-generational hemp agricultural firm that is anticipated to raise the Company’s industry share in the European CBD business.
On Behalf of the Board
Jason Dussault, CEO
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Cautionary Note Concerning Forward Hunting Statements: This release contains particular statements and details that constitute forward-hunting details inside the which means of applicable Canadian securities laws, such as that the Business really should be in complete industrial scale production this quarter.
Commonly, forward-hunting statements and details can be identified by the use of forward-hunting terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that particular actions, events or final results “may possibly”, “could”, “really should” or “would” take place. Forward-hunting statements are primarily based on particular material assumptions and evaluation produced by the Business and the opinions and estimates of management as of the date of this press release, such as the Business does not anticipate requiring more financing to total its initial small business program.
Though the Business considers these assumptions to be affordable primarily based on details presently offered to it, they may possibly prove to be incorrect, and the forward-hunting statements in this release are topic to many dangers, uncertainties and other things that may possibly trigger future final results to differ materially from these expressed or implied in such forward-hunting statements. Such danger things may possibly incorporate, amongst other individuals, and that the Business is in a pretty powerful position with a wholesome balance sheet consisting of tangible assets, money and no debt and its Polish NEXUS extraction facility ramping up to industrial production this quarter. As effectively that the Business appears forward to a powerful Q4 to 2019 and more development by means of 2020.”
Though management of the Business has attempted to recognize vital things that could trigger actual final results to differ materially from these contained in forward-hunting statements or forward-hunting details, there may possibly be other things that trigger final results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be correct, as actual final results and future events could differ materially from these anticipated in such statements. Accordingly, readers really should not location undue reliance on forward-hunting statements and forward-hunting details. Readers are cautioned that reliance on such details may possibly not be acceptable for other purposes. The Business does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-hunting statements regardless of whether as a outcome of new details, future events or otherwise, except as expected by law.
The CSE has not in any way passed upon the merits of and has neither authorized nor disapproved the contents of this news release.