EARLY WARNING PRESS RELEASE – Franchise Cannabis Corp. acquires the securities of Eve & Co Incorporated
TORONTO, January 17, 2022 /CNW/ – Franchise Cannabis Corp. (the “Acquirer“) announces, in accordance with the early warning requirements of Canadian securities legislation, that, the September 28, 2021, it purchased shares of Eve & Co Incorporated (the “Transmitter“) resulting in the issue to the Purchaser from the cash of the Issuer of a total of 2,777,778 ordinary shares of the capital of the Issuer (“Ordinary actions“) as well as warrants to purchase up to 1,388,889 common shares (the “Mandates“). At January 13, 2022, the acquirer acquired an additional 70,000 common shares through the facilities of the TSX Venture Exchange.
Prior to the above-mentioned transactions, the Purchaser did not own or exercise control or direction over, directly or indirectly, securities of the Issuer.
As a result of the acquisition of common shares, the acquirer holds an aggregate of 2,847,778 common shares, representing approximately 9.0% of the issued and outstanding common shares of the issuer on a non-diluted basis, and approximately 12.9% of the issued and outstanding shares of the Issuer Common Shares on a partially diluted basis, assuming the exercise by the purchaser of the Warrants.
This press release is issued pursuant to National Instrument 62–103 Early Warning Requirements – The Early Warning System and Related Issues Related to Takeover Bids and Insider Reporting and National Instrument 62-104 – Takeover Bids and Issuer Bids of the Canadian Securities Administrators, which also requires that an alert report be filed with the competent Canadian securities regulatory authorities containing additional information with respect to the aforementioned matters. A copy of the alert report will appear under the issuer’s profile on the SEDAR website at www.sedar.com. A copy of the early warning report can also be obtained on request at the contact details below.
SOURCE Franchise Cannabis Corp.
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