Stillcanna Inc. Receives Conditional Approval to Resume Trading from the Canadian Securities Commission

Rhea-AI Summary

Stillcanna Inc. (CSE:STIL) has received conditional approval from the Canadian Securities Exchange for the listing of its shares following a merger with Sativa Group PLC, which has been sanctioned by the UK High Court. The company will rebrand as Sativa Wellness Group Inc. with the new ticker SWEL and plans to list on various markets including AQSE and OTC. A new executive team has been appointed, aiming to enhance operational efficiency in CBD production, bolstered by a recent acquisition.

Positive

• Conditional approval for listing shares from the Canadian Securities Exchange.
• Merger with Sativa Group PLC sanctioned by the UK High Court.
• Rebranding to Sativa Wellness Group with new ticker SWEL.
• Acquisition of Olimax NT SP. Z O.O. expected to enhance market share in Europe.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 10, 2020 / Stillcanna Inc. (the "Company") (CSE:STIL) is pleased to announce that, further to its news releases dated June 3, 2020 and August 31, 2020, it has obtained conditional approval from the Canadian Securities Exchange (the "CSE") for the listing of common shares.

Each of the shareholders of Stillcanna and Sativa voted overwhelmingly in favour of the Transaction and the UK High Court has sanctioned the merger subject to final approval by the CSE.

The Company intends to change its name to "Sativa Wellness Group Inc." and its ticker to "SWEL". Final approval and the re-listing of the Shares on the CSE is expected shortly. The Company expects to list on the UK based AQSE Growth Market under the same ticker along with the U.S. based OTC market and the Frankfurt Stock Exchange.

A new Board of Directors of the Company has appointed Henry Lees-Buckley as Chief Executive Officer, Joseph Colliver as Chief Financial Officer and Anne Tew as Corporate Secretary. Jason Dussault Stillcanna's former CEO is also a director of the Company and will serve as the Company's investor relations representative.

A new corporate website has been launched for current shareholders of the Company and prospective shareholders wishing to seek further information www.sativawellnessgroup.com.

As well the Company has released a corporate video available on the newly launched Sativa Wellness Group YouTube channel. The video highlights the benefits of this merger and how

stewardship of the process from seed to consumer deliver consistent quality CBD product that our consumers can trust. The Company's products will be fully compliant with all European industry regulations, including FSA Novel Foods Accreditation.

The entire new Sativa family is excited about the new opportunities this merger has fostered.

About Sativa Group PLC

The Sativa Group PLC joined the UK's NEX market in March 2018 as the UK's first medicinal cannabis investment vehicle. The business evolved to focus on the development of an operational business capitalizing on its first-mover advantage. This change transitioned the Company from an investment Company to an operating Company at the forefront of both the CBD wellness and medicinal cannabis sectors in the UK.

About Stillcanna Inc.

Stillcanna Inc. (CSE:STIL) www.stillcanna.com is a Canadian early-stage life sciences Company focused on the large scale manufacturing of CBD in Europe. The Company believes its proprietary intellectual property allows it to extract CBD at a lower cost. The Company recently completed the acquisition of Olimax NT SP. Z .O.O, a multi-generational hemp agricultural firm that is expected to increase the Company's market share in the European CBD industry.

Additional information is available under the Company's SEDAR profile at www.sedar.com.

On Behalf of the Board of Directors,

Jason Dussault, Director

For further information, please contact:

Jason Dussault
info@stillcanna.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 Stillcanna'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", 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" or "will be achieved".

The forward-looking information and forward-looking statements contained herein include, but are not limited to, the completion of the Transaction, the issuance of the Shares, options and warrants, final approval by the CSE, the quotation of the Shares by the OTC, the listing of the Shares on the Frankfurt Stock Exchange, the listing of the Shares on the AQSE, information concerning the fact that the Company now owns the supply chain, various unforeseen events could make this statement no longer valid. Although Stillcanna 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.

In particular, there is no guarantee that that the merger solidifies both companies position as a leader across the entire supply chain, and that they are in a unique position to produce and supply the highest quality products with the lowest possible costs. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and Stillcanna 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: Stillcanna Inc.

View source version on accesswire.com:
https://www.accesswire.com/605658/Stillcanna-Inc-Receives-Conditional-Approval-to-Resume-Trading-from-the-Canadian-Securities-Commission

FAQ

What is the recent news regarding Stillcanna Inc. (SCNNF)?

Stillcanna Inc. has received conditional approval from the Canadian Securities Exchange for the listing of its shares following a merger with Sativa Group PLC.

What is the new name and ticker for Stillcanna Inc. (SCNNF)?

The company will rebrand as Sativa Wellness Group Inc. and will trade under the ticker SWEL.

What markets will Sativa Wellness Group Inc. (SCNNF) list on?

The company plans to list on the AQSE Growth Market, OTC market, and Frankfurt Stock Exchange.

Who are the new executives of Sativa Wellness Group Inc. (SCNNF)?

The new executives include Henry Lees-Buckley as CEO, Joseph Colliver as CFO, and Anne Tew as Corporate Secretary.

What is the expected impact of the merger on Stillcanna Inc. (SCNNF)?

The merger is expected to solidify the company's position in the supply chain and enhance its ability to produce quality CBD products.