CAN (BC): AgriCann Solutions drops acquisition of Sticky Leaf

AgriCann Solutions has given notice to Sticky Leaf Cannabis that AgriCann retracts its Notice of Exercise of Option dated June 23, 2021 whereby it would acquire 100% of Sticky Leaf and its licenced Cannabis Retail Stores in accordance with the Option to Buy Agreement dated October 12, 2020 between the parties.

Further to the board changes as announced on September 15, Chris MacPherson remains as a director and Leslie van Santen has resigned her directorship. The Company thanks Leslie for her support during our formative stage.

Update on 100%-owned Craft Nurseries Canada 
Seeking a competitive advantage over its competitors, Craft Nurseries has secured and registered with Health Canada a genetic seed bank with 171 unique recreational & medical strain genetics. Stored are thousands of cannabis seeds, dutifully catalogued, maintained in a refrigerated vault at its licenced greenhouse nursery facility in Lake Country. Focusing on the supply and sale of superior starter plant materials complements our full-service cultivation support initiatives to help the industry rationalize their operations.

RAM and VPC have completed their application requirements and AgriCann is responding with final suitability submissions to the Colorado Department of Revenue Marijuana Enforcement Division ("MED") whereby AgriCann can acquire 100% of RAM and VPC for closing consideration of $13.0 million via the issue of 26,000,000 common shares at $0.50 from treasury to the stakeholders of RAM and VPC. It is anticipated that closing will take place in Q4 2021.

The Company has accepted $50,000 in receipts towards its August 18th announced $0.60 per Unit non-brokered private placement, and a further $260,000 in on-demand advances from non-arm's-length parties to the Company by virtue of holding more than 10 per cent of the Company's issued and outstanding common shares on a fully diluted basis, and/or holding officer and director positions in the Company. The Company intends to close the private placement and reject uncompleted subscriptions without further notice.

For more information:
AgriCann Solutions
(604) 608-1999

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