Alcanna Closing of Previously Announced Purchase of the Canadian Liquor Retailers Alliance Interest From Ace Liquor
January 24 2020 - 6:32PM
Alcanna Inc. (the “Company” or “Alcanna”) (TSX: CLIQ) today
announced the closing of the previously announced purchase by
Alcanna of units in the capital of Canadian Liquor Retailers
Alliance Limited Partnership (the “Alliance”) from Ace Liquor
Corporation ("Ace") in exchange for 2,927,928 common shares in the
capital of Alcanna (the “Shares”). The transaction was valued at
$13 million, with Alcanna issuing the Shares at a price of $4.44
per Share, which represents the five-day volume-weighted average
trading price of the Shares prior to January 22, 2020. The
transaction resulted in Alcanna owning, itself or through wholly
owned subsidiaries, 100% of the Alliance and Ace owning
approximately 7.3% of the Shares.
ABOUT ALCANNA INC.
Alcanna is one of the largest private sector
retailers of alcohol in North America and the largest in Canada by
number of stores – operating 254 locations in Alberta, British
Columbia and Alaska. The Company also operates cannabis retail
stores under the “Nova Cannabis” brand, with locations in the
Provinces of Alberta and Ontario. With revenues in excess of $700
million per year, Alcanna processes over 20 million individual
retail transactions of beverage alcohol and cannabis.
Alcanna's common shares and convertible
subordinated debentures trade on the Toronto Stock Exchange under
the symbols "CLIQ" and "CLIQ.DB", respectively.
Additional information about Alcanna Inc. is
available at www.sedar.com and the Company’s website at
www.alcanna.com.
For Further Information
James BurnsVice Chair and Chief Executive
OfficerAlcanna Inc. (587) 460-1026james.burns@alcanna.com
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