FinCanna Share and Debenture Acquisitions, Holdings and Issuer Actions

Rhea-AI Summary

FinCanna Capital Corp. (FNNZF) Acquires Common Shares and Debentures, Indirectly Through 2852138 Ontario Inc.

Toronto, Ontario--(Newsfile Corp. - November 24, 2023) - Bob Simpson, indirectly through 2852138 Ontario Inc. (the "Holder") announces the acquisition of common shares and debentures of FinCanna Capital Corp. ("FinCanna") and the effect of FinCanna issuer actions.

The Holder acquired 517,516 common shares and 941,000 debentures for $20 to hold 1,001,522 common shares and 1,818,500 debentures. The debentures held were convertible into 12,123,333 common shares for deemed holding of 13,124,855 common shares representing on a partially diluted basis 16.46% of the then outstanding FinCanna common shares.

Upon FinCanna amending the debentures to convert pro rata 55% of debentures outstanding and reduce the conversion price to $0.005, the Holder held a further 351,576,667 common shares representing on a partially diluted basis 34.14% of the outstanding common shares for an aggregate holding of 364,701,522 common shares representing on a partially diluted basis 35.42% of the then outstanding common shares.

The Holder acquired common shares and debentures for investment and tax planning purposes. The Holder may acquire and/or dispose of securities held depending on market conditions, tax considerations, reformulation of plans or other factors.

For more information or to obtain a copy of reports filed under National Instrument 62-103, please contact:

2852138 Ontario Inc.
Attention: Bob Simpson
Phone: 416-867-8800 x 203

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188637

FAQ

What is the name of the company mentioned in the press release and its ticker symbol?

The company mentioned is FinCanna Capital Corp. and its ticker symbol is FNNZF.

How many common shares and debentures were acquired by 2852138 Ontario Inc.?

2852138 Ontario Inc. acquired 517,516 common shares and 941,000 debentures.

What was the total cost of the acquired shares and debentures?

The total cost of the acquired shares and debentures was $20.

What percentage of the outstanding FinCanna common shares does the Holder currently hold?

The Holder currently holds 35.42% of the then outstanding common shares on a partially diluted basis.

What are the reasons mentioned for acquiring the common shares and debentures?

The acquisition was made for investment and tax planning purposes.