EDMONTON, AB, Sept. 15, 2021 /CNW/ - Alcanna Inc. (the
"Company" or "Alcanna") (TSX: CLIQ) is issuing this
press release in response to a request received from The Investment
Industry Regulatory Organization of Canada ("IIROC"), on behalf of the Toronto
Stock Exchange, based on recent trading activity in the common
shares of the Company. While it is the Company's policy not to
comment on market activity, Alcanna confirms that it is in
early-stage discussions with another company with respect to a
potential transaction.
Alcanna regularly reviews and evaluates strategic
opportunities, whether acquisitions, divestitures, partnerships or
other business combinations, that management believes could be in
the best interest of Alcanna's stakeholders. The evaluation of such
opportunities may involve discussions with partners, industry
players, investors and/or financial advisors. This is an ongoing
process in keeping with management's mission to deliver value for
shareholders.
Alcanna has not entered in to an agreement to effect any
particular transaction, and there can be no assurance that the
current discussions will result in a decision to enter into any
business combination.
As a matter of company policy, Alcanna does not comment on
unusual market activity, rumours or speculation and only comments
on material corporate developments in accordance with relevant
securities legislation. Alcanna does not intend to make any further
public announcement about a potential transaction unless it
determines that disclosure is required by applicable securities
laws.
ABOUT ALCANNA
Alcanna is one of the largest private sector retailers of
alcohol in North America and the
largest in Canada by number of
stores – operating locations in Alberta and British
Columbia. The Company's majority-owned subsidiary, Nova
Cannabis Inc. (TSXV: NOVC), also operates cannabis retail stores in
Alberta, Ontario, and Saskatchewan. Alcanna's common shares trade on
the Toronto Stock Exchange under the symbol "CLIQ". Additional
information about Alcanna Inc. is available at www.sedar.com and
the Company's website at www.alcanna.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements or
information (collectively "forward-looking statements")
within the meaning of applicable securities legislation.
Forward-looking statements are typically identified by words such
as "continue", "anticipate", "will", "should", "plan", "intend",
and similar words suggesting future events or future performance.
All statements and information other than statements of historical
fact contained in this news release are forward-looking statements.
In particular, this news release contains forward-looking
statements pertaining to a possible strategic business
combination.
Readers should not place undue reliance on forward-looking
statements included in this news release. Forward-looking
statements are not guaranteeing of future performance and involve a
number of risks and uncertainties that may cause actual performance
and financial results to differ materially from any estimates,
forecasts or projections.
These risks and uncertainties include, among other things, the
possibility that a potential transaction will not be entered into
or completed; if a transaction is entered into, the terms and
conditions of any such transaction; and whether the potential
benefits of any transaction would be realized. In addition, if and
when any transaction is consummated, there will be risks and
uncertainties related to the ability of the combined company to
successfully integrate the respective businesses, execute on the
strategic opportunity, as well as the ability to ensure continued
performance or market growth of its products; the duration and
severity of the COVID-19 pandemic on the business, operations and
financial condition of the Company; the risk that Alcanna will be
unable to execute its strategic plan and growth strategy, including
the capital allocation and retail cannabis strategy, as planned
without significant adverse impacts from various factors beyond its
control; dependence on suppliers; potential delays or changes in
plans with respect to capital expenditures and the availability of
capital on acceptable terms; risks inherent in the liquor retail
and cannabis industries; competition for, among other things,
customers, supply, capital and skilled personnel; changes in labour
costs and markets; incorrect assessments of the value of
acquisitions; general economic and political conditions in
Canada (including Alberta), and globally; industry conditions,
including changes in government regulations; fluctuations in
foreign exchange or interest rates; unanticipated operating events;
failure to obtain regulatory and third–party consents and approvals
when required; changes in tax and other laws that affect us and our
security holders; the potential failure of counterparties to honour
their contractual obligations; stock market volatility; and the
other factors described in the Company's public filings (including
the Annual Information Form) available at www.sedar.com. Readers
are cautioned that this list of risk factors should not be
construed as exhaustive.
The forward-looking statements contained in this news release
are made as of the date hereof. Except as expressly require by
applicable securities legislation, Alcanna does not undertake any
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. The forward-looking statements contained in this news
release are expressly qualified by this cautionary statement.
SOURCE Alcanna Inc.