Sativa Wellness Group Announces Change of Share Capital

Rhea-AI Summary

Sativa Wellness Group announced the application for 1,675,350 common shares to be admitted to the Aquis Stock Exchange and Canadian Securities Exchange, expected on 9 December 2021, contingent on approval. This issuance follows the recent cancellation of 1,329,111 common shares related to a loan cancellation. Post-admission, the company's share capital will total 364,962,152 ordinary shares. Shareholders should use this figure for calculating interests in the company under FCA's rules.

Positive

• Application for the admission of 1,675,350 common shares could provide increased capital and support growth.
• Cancellation of 1,329,111 common shares may aid in improving the company's financial stability.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 4, 2021 / Sativa Wellness Group Inc. (CSE:SWEL) ("Sativa Wellness" or the "Company") announced today that an application has been made to the Aquis Stock Exchange ("AQSE") and the Canadian Securities Exchange ("CSE") for 1,675,350 common shares of the Company ("Common Shares") to be admitted on or around 9 December 2021, subject to the approval of the CSE and AQSE. These are to be issued to a consultant who has exercised their option in relation to ‘G' shares in a subsidiary company.

The company also wishes to announce that on or around the 19 November, 1,329,111 Common Shares were cancelled in return for the cancellation of a loan.

Following admission and cancellation, the Company's issued share capital will consist of 364,962,152 ordinary shares. There are no ordinary shares held in treasury. Therefore, following admission, this figure of 364,962,152 should be used by shareholders as the denominator for the calculation by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Directors of the Company accept responsibility for the contents of this announcement.

On behalf of the Board of Directors,

Marc Howells
Chief Executive Officer
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com
www.sativawellnessgroup.com

Anne Tew
Chief Financial Officer
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com
www.sativawellnessgroup.com

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release. This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Sativa's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" "plan is" or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur", "will be achieved" or "shortly".

Although Sativa believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and Sativa does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

SOURCE: Sativa Wellness Group Inc.

View source version on accesswire.com:
https://www.accesswire.com/676072/Sativa-Wellness-Group-Announces-Change-of-Share-Capital

FAQ

What is the significance of Sativa Wellness's application for 1,675,350 common shares on 9 December 2021?

The application aims to increase capital, contingent on approval from the Aquis Stock Exchange and Canadian Securities Exchange.

How does the cancellation of 1,329,111 common shares affect Sativa Wellness's stock?

The cancellation, associated with a loan, may improve the company's financial health and reduce liabilities.

What is the total number of ordinary shares after Sativa Wellness's adjustments?

Following the admission and cancellation, the total issued share capital will consist of 364,962,152 ordinary shares.