Dragonfly is out - good riddance - soon grasshopper we begin
1st week of Sept. -- revenue is on the way for the SCNNF holders at last.Still a long position to reap the real money. I have plenty of time I can even hang out in a barr and wait for my money.
Nothing Ventured Nothing Gained rules of the land
CBD will be bigger than Weed in the end may take a while but it will come.
Stillcanna's Acquisition of Sativa Group PLC of the United Kingdom Receives 99% Shareholder Approval from Sativa
[ACCESSWIRE]
ACCESSWIRE•August 19, 2020
VANCOUVER, BC / ACCESSWIRE / August 19, 2020 / Stillcanna Inc. (OTC PINK:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ("STIL" or the "Company"), is pleased to announce that the shareholders of Sativa Group PLC, one of the United Kingdom's (UK) first medical Cannabis Companies, have overwhelmingly voted in favour of the acquisition.
On August 27, 2020 Stillcanna is holding a special meeting of its shareholder to vote on the Sativa Group acquisition. It is anticipated that Stillcanna shares will resume trading the first week of September.
The details of the acquisition were previously announced on June 3, 2020. Stillcanna will continue to trade, or otherwise be quoted on the CSE, OTC and FSE following completion of the acquisition. Stillcanna intends to list the Stillcanna shares on the AQSE on or shortly after the effective date in order to maintain access to the AQSE for shareholders of the combined group. This is subject to Stillcanna completing the relevant admission process with the AQSE.
"I am delighted the Sativa shareholders have so fully embraced our proposed acquisition of the Sativa Group of Companies," stated Jason Dussault CEO of Stillcanna. We are fast approaching the final stages of this acquisition and the entire Stillcanna team looks forward to monetizing on the combined strengths of the new entity."
As previously announced on April 21, 2020 all required licenses and permits to commence the manufacturing of CBD at the ORIGIN extraction facility have been secured. The facility was constructed through a joint venture partnership with Dragonfly Biosciences Limited of the UK. Borganic Consulting had initiated legal action in the UK against Dragonfly Biosciences for contractual breaches under the partnership agreement.
Further to the announcement on April 21, 2020 Stillcanna Inc.'s subsidiary Borganic Consulting Inc. ("Borganic") has, with immediate effect today, terminated its Joint Venture agreement dated December 4, 2018 with Dragonfly Biosciences Limited ("Dragonfly").
The termination includes a claim for Dragonfly's share of the Joint Venture extraction facility.
Proceedings issued in the English High Court have also been served by Borganic today on Dragonfly and also on Ms Radostina Draganova-Nikolova, a director of Dragonfly and general manager of the Joint Venture company.
In the proceedings served by Borganic it seeks declarations from the English High Court that:
Dragonfly has materially and persistently breached the Joint Venture agreement which constitutes a compulsory transfer event in favour of Borganic;
The notice of termination and compulsory transfer event served by Dragonfly on August 3, 2020 is null and void; and
Borganic retains ownership in the equipment it has financed at the Joint Venture extraction facility.
Borganic also claims damages against Dragonfly for the losses it has suffered as a result of Dragonfly's alleged breaches of the Joint Venture agreement.
About Sativa Group PLC
The Sativa Group PLC joined the UK's NEX market in March 2018 as the UK's first medicinal cannabis investment vehicle.
The business evolved to focus on the development of an operational business capitalizing on its first-mover advantage. This change transitioned the Company from an investment Company to an operating Company at the forefront of both the CBD wellness and medicinal cannabis sectors in the UK.
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences Company focused on the large scale manufacturing of CBD in Europe. The Company believes its proprietary intellectual property allows it to extract CBD at a lower cost. The Company has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly Biosciences LLC, a United Kingdom-based supplier of CBD. The Company also recently completed the of Olimax NT SP. Z .O.O, a multi-generational hemp agricultural firm that is expected to increase the Company's market share in the European CBD industry.
The belief in a supernatural source of evil is not necessary. Men alone are quite capable of every wickedness.”
Joseph Conrad
