VANCOUVER, British Columbia, July 30, 2018 (GLOBE NEWSWIRE) — Ray Laflamme, of 11475 Best Street, Maple Ridge, British Columbia V2X 7X6, announced today that on July 30, 2018, he entered into an agreement to acquire from ABcann Global Corporation (“ABcann”), 46,250,000 common shares (“Common Shares”) of ABcann, a company with a head office at 126 Vanluven Road, Napanee, Ontario K7R 3L2, at a deemed purchase price of CDN$1.14 per Common Share for an aggregate purchase price of CDN$52,725,000, in connection with the proposed sale of all of the issued and outstanding securities of Canna Farms Limited to ABcann announced on July 30, 2018. The acquisition is expected to close in August 2018, and remains subject to customary closing conditions, including the approval of the TSX Venture Exchange. Mr. Laflamme currently does not own, directly or indirectly, or exercise control or direction over any Common Shares. After the acquisition, Mr. Laflamme will own, directly or indirectly, or exercise control or direction over, 46,250,000 Common Shares, which upon acquisition would represent approximately 16.1% of the total number of issued and outstanding Common Shares. This change will represent an increase of approximately 16.1% in the total number of issued and outstanding Common Shares held by Mr. Laflamme. Mr. Laflamme’s acquisition is being made for investment purposes. Mr. Laflamme may, in the future, increase or decrease his beneficial ownership, control or direction over securities of ABcann.
For more information, or to obtain a copy of the subject early warning report, please contact:
Ray Laflamme
11475 Best Street
Maple Ridge, British Columbia
V2X 7X6
Telephone: 604-339-0841