Alcanna Inc. Announces Timing of Second Quarter 2020 Earnings Release
July 31 2020 - 8:00AM
Alcanna Inc. (the “Company” or “Alcanna”) (TSX: CLIQ) today
announced that it plans to release its second quarter 2020
financial results after markets close on August 19,
2020.
Management will conduct a conference call on
August 20, 2020 at 12:00p.m. ET (10:00a.m. MT) to discuss its
second quarter operating and financial results. To participate,
please dial (416) 406-0743 or (800) 898-3989 and use the required
participant access code: 4011583#. The playback will be made
available approximately one hour after the event at (905) 694-9451
or (800) 408-3053, required access code: 2084623#.
Alcanna expects to utilize the relief granted by
the Canadian Securities Administrators and the Alberta Securities
Commission Blanket Order 51-519 - Temporary Exemption from Certain
Corporate Finance Requirements with Deadlines during the Period
from June 2 to August 31, 2020, in respect of its interim financial
report for the second quarter of 2020, the associated management's
discussion and analysis and related filings for such period, which
it anticipates filing on August 19, 2020. The blanket relief
provides for up to a 45-day extension for periodic filings normally
required to be made by reporting issuers during the period from
June 2, 2020 to August 31, 2020.
The following material business development has
occurred since June 1, 2020, being the date of filing of the
Company's unaudited interim financial statements for the first
quarter of 2020:
- On June 3, 2020, the Company and
Aurora Cannabis Inc. jointly announced that they had entered into
an agreement with a syndicate of underwriters, pursuant to which
the underwriters agreed to purchase, on a “bought deal” basis, an
aggregate of 9,200,000 common shares of the Company, then held by a
subsidiary of Aurora Cannabis Inc., at a price of $3.00 per share.
The transaction successfully closed June 24, 2020.
Additional information about this material
business development is available at www.sedar.com.
In connection with Alcanna's reliance on the
foregoing relief, management and other insiders are subject to an
insider trading blackout policy that reflects the principles in
Section 9 of National Policy 11-207 – Failure-to-File Cease Trade
Orders and Revocations in Multiple Jurisdictions.
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 228 locations in Alberta and British
Columbia. The Company also operates 32 cannabis retail stores under
the “Nova Cannabis” brand, with 31 locations in the Province of
Alberta and one location in the Province of Ontario.
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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