MONTREAL, Jan. 8, 2024
/CNW/ - Cannara Biotech Inc. ("Cannara" or the
"Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a
vertically integrated producer of premium-grade cannabis and
derivative product offerings at affordable prices with two
mega facilities based in Quebec
spanning over 1,650,000 sq. ft., today announced it has retained
Independent Trading Group ("ITG") to provide market making services
in accordance with TSX Venture Exchange policies.
ITG will trade the securities of the Company on the TSXV for the
purpose of maintaining an orderly market. In consideration of the
services provided by ITG, the Company will pay ITG a monthly fee of
$6,000 from the Company's available
cash for a minimum term of one month and renewable for successive
one-month terms thereafter. Either Party may terminate the
arrangement by providing written notice to that effect 20 days
prior to the end of the then current term. The services provided
by ITG will commence on January 8,
2024. The Company and ITG are unrelated and unaffiliated
entities and ITG has no interest, directly or indirectly in the
Company or its securities. ITG will not receive shares or options
as compensation, nor have they indicated any immediate intent to
acquire shares of the Company through the open market or otherwise.
The capital used for market making will be provided by ITG.
About Cannara Biotech Inc.
Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB) is
a vertically integrated producer of affordable premium-grade
cannabis and cannabis-derivative products for the Québec and
Canadian markets. Cannara owns two mega facilities based in Québec
spanning over 1,650,000 sq. ft., providing the Company with
100,000kg of potential annualized cultivation output. Leveraging
Québec's low electricity costs, Cannara's facilities produce
premium-grade cannabis products at an affordable price. For more
information, please visit cannara.ca.
About ITG
ITG is a full-service securities dealer regulated by the Investment
Industry Regulatory Organization of Canada, and is dedicated specifically to
professional trading. ITG's head office is located at 370 King
Street W, Suite 701, Toronto,
Ontario, M5V 1J9.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding "Forward-Looking"
Information
This information release contains certain forward-looking
information. Such information involves known and unknown risks,
uncertainties and other factors that may cause actual results,
performance, or achievements to be materially different from those
implied by statements herein, and therefore these statements should
not be read as guarantees of future performance or results. All
forward-looking statements are based on the Company's current
beliefs as well as assumptions made by and information currently
available to it as well as other factors. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Due to risks and
uncertainties, including the risks and uncertainties identified by
the Company in its public securities filings, actual events may
differ materially from current expectations. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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SOURCE Cannara Biotech Inc.