MONTREAL, Jan. 11, 2019 (GLOBE NEWSWIRE) — Zohar Krivorot announced today that, in connection with the business combination (the “Business Combination”) completed on December 31, 2018 among Cannara Biotech Inc. (formerly, Dunbar Capital Corp.) (the “Issuer“), Cannara Biotech Inc. and 11038427 Canada Inc., he has indirectly acquired ownership of a total of 231,832,194 common shares of the Issuer (“Common Shares“), representing 33.41% of the issued and outstanding Common Shares of the Issuer.
All of Mr. Krivorot’s 231,832,194 Common Shares are held through his holding company, Javaa Private Equity Inc. and will be held in escrow in accordance with the rules of the Canadian Securities Exchange. Immediately prior to the completion of the Business Combination, Mr. Krivorot did not own, directly or indirectly or exercise control or direction over any securities of the Issuer.
Mr. Krivorot holds and controls his Common Shares for investment purposes only and he may increase or decrease his beneficial ownership or control over the Common Shares of the Issuer, which he may do, subject to the terms of the escrow arrangements, from time to time.
This news release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the anticipated filing of an early warning report (the “Early Warning Report“). A copy of the Early Warning Report will be available on SEDAR under the Issuer’s issuer profile at www.sedar.com and can be obtained by contacting Mr. Krivorot as set out below.
For further information please contact:
Mr. Zohar Krivorot
Tel: 514 543-4200 ext. 250