Vencanna Announces Amended Definitive Agreement with Cannavative Group and Provides Operational Update
"Vencanna Ventures" (the "Company" or "Vencanna") (CSE: VENI) (OTCQB: TPPRF) provides the following corporate and operational updates:
- "Vencanna Ventures" (the "Company" or "Vencanna") (CSE: VENI) (OTCQB: TPPRF) provides the following corporate and operational updates:
Effective today, the Company and The Cannavative Group LLC ("Cannavative") have amended and restated the definitive unit exchange agreement originally entered into on April 25, 2022 (as amended, the "A&R Definitive Agreement"). - The Transaction value is US$12.5 million based on a deemed issue price of US$0.075 per Share (excluding the Earn-out Units).
- Vencanna intends to seek shareholder approval of the Transaction by way of written resolution from shareholders holding not less than 50% plus one Share.
- However, it is with great sadness to announce the recent passing of Mr. Ross Kline, founder, chairman, and CEO of the Cannavative Group.