Cannara Biotech Announces Notice Of Annual General Meeting Of Shareholders To Be Held Virtually On January 25th, 2024

Rhea-AI Summary

Cannara Biotech Inc. (LOVE) will host its annual general meeting of shareholders on January 25th, 2024. The company seeks approval for the extension of the expiry date of 3,723,800 options by two years, including 3,503,500 options issued to insiders. Shareholders will also be asked to approve the rolling employee stock option plan and restricted share unit plan.

MONTREAL, Dec. 13, 2023 /PRNewswire/ - 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 that it will host the Company's annual general meeting of shareholders on January 25th, 2024 at 11:00 am EST.  The meeting will be held by way of a live webcast and teleconference (per the instructions below).

Shareholders are encouraged to vote on the matters before the meeting by proxy and to join the meeting by webcast. Those who attend the meeting by teleconference are requested to read the notes to form of proxy and then to, complete, sign and mail the enclosed form of proxy in accordance with the instructions set out in the proxy and in the information circular.

Holders of record of ordinary shares of the Company at the close of business on December 5, 2023 will be asked by the Company for disinterested shareholder approval for the extension of the expiry date of 3,723,800 options which are currently issued and outstanding to employees of the Company by two years, including 3,503,500 options which are currently issued to Company insiders. These options are set to expire five years from grant date, and the Company is seeking approval to amend the expiration to seven years from initial grant date. Shareholders will also be asked to approve the Company's rolling employee stock option plan and restricted share unit plan, as is required on an annual basis.

Shareholders will be able to join the annual general meeting by clicking on the link below:

https://cannarabiotechquebecinc.my.webex.com/cannarabiotechquebecinc.my/j.php?MTID=mbf846d7e608070421fa4c48bbc2cb936

To join the meeting via teleconference, please dial 1-650-479-3208 and use meeting code 2634 285 6848 and passcode LOVE2024.

*Note re Teleconference: Shareholders accessing the Meeting via Teleconference will not be able to vote or speak at the Meeting. To vote or speak at the Meeting, Shareholders will need to join the webcast and utilize the chat function during the Meeting. A moderator will be present to allow Shareholders to vote or speak at the Meeting at the appropriate time.

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 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. 

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.

FAQ

When is Cannara Biotech Inc.'s annual general meeting of shareholders?

Cannara Biotech Inc.'s annual general meeting of shareholders will be held on January 25th, 2024.

What is the purpose of the annual general meeting?

The company seeks approval for the extension of the expiry date of 3,723,800 options by two years, including 3,503,500 options issued to insiders. Shareholders will also be asked to approve the rolling employee stock option plan and restricted share unit plan.

How can shareholders join the annual general meeting?

Shareholders can join the meeting via webcast using the link provided or via teleconference by dialing 1-650-479-3208 and using meeting code 2634 285 6848 and passcode LOVE2024.

What is the link to join the annual general meeting via webcast?

Shareholders can join the annual general meeting via webcast by clicking on the following link: https://cannarabiotechquebecinc.my.webex.com/cannarabiotechquebecinc.my/j.php?MTID=mbf846d7e608070421fa4c48bbc2cb936

How can shareholders vote or speak at the meeting if joining via teleconference?

Shareholders joining via teleconference will not be able to vote or speak at the meeting. They will need to join the webcast and utilize the chat function during the meeting to vote or speak.

What is the purpose of extending the expiry date of options?

The company seeks approval to extend the expiry date of 3,723,800 options by two years, including 3,503,500 options issued to insiders.

What will shareholders be asked to approve at the meeting?

Shareholders will be asked to approve the rolling employee stock option plan and restricted share unit plan.

When is the deadline for shareholders to vote on the matters before the meeting?

Holders of record of ordinary shares of the Company at the close of business on December 5, 2023 will be asked for disinterested shareholder approval for the extension of the expiry date of options.

What is the meeting code and passcode for joining via teleconference?

The meeting code is 2634 285 6848 and the passcode is LOVE2024 for joining via teleconference.