EDMONTON, Alberta, July 31, 2020 — Alcanna Inc. (the “Company” or “Alcanna”) (TSX: CLIQ) today announced that it plans to release its second quarter 2020 financial results after markets close on August 19, 2020.
Management will conduct a conference call on August 20, 2020 at 12:00p.m. ET (10:00a.m. MT) to discuss its second quarter operating and financial results. To participate, please dial (416) 406-0743 or (800) 898-3989 and use the required participant access code: 4011583#. The playback will be made available approximately one hour after the event at (905) 694-9451 or (800) 408-3053, required access code: 2084623#.
Alcanna expects to utilize the relief granted by the Canadian Securities Administrators and the Alberta Securities Commission Blanket Order 51-519 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020, in respect of its interim financial report for the second quarter of 2020, the associated management’s discussion and analysis and related filings for such period, which it anticipates filing on August 19, 2020. The blanket relief provides for up to a 45-day extension for periodic filings normally required to be made by reporting issuers during the period from June 2, 2020 to August 31, 2020.
The following material business development has occurred since June 1, 2020, being the date of filing of the Company’s unaudited interim financial statements for the first quarter of 2020:
- On June 3, 2020, the Company and Aurora Cannabis Inc. jointly announced that they had entered into an agreement with a syndicate of underwriters, pursuant to which the underwriters agreed to purchase, on a “bought deal” basis, an aggregate of 9,200,000 common shares of the Company, then held by a subsidiary of Aurora Cannabis Inc., at a price of $3.00 per share. The transaction successfully closed June 24, 2020.
Additional information about this material business development is available at www.sedar.com.
In connection with Alcanna’s reliance on the foregoing relief, management and other insiders are subject to an insider trading blackout policy that reflects the principles in Section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
ABOUT ALCANNA INC.
Alcanna is one of the largest private sector retailers of alcohol in North America and the largest in Canada by number of stores – operating 228 locations in Alberta and British Columbia. The Company also operates 32 cannabis retail stores under the “Nova Cannabis” brand, with 31 locations in the Province of Alberta and one location in the Province of Ontario.
Alcanna’s common shares and convertible subordinated debentures trade on the Toronto Stock Exchange under the symbols “CLIQ” and “CLIQ.DB”, respectively.
Additional information about Alcanna Inc. is available at www.sedar.com and the Company’s website at www.alcanna.com.
For Further Information
Vice Chair and Chief Executive Officer