.jpg)
5 hours ago
1
Article content
/ Not for distribution to U.S. news wire services or for dissemination in the United States /
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
VANCOUVER, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) — Digicann Ventures Ltd. (“Digicann” or the “Company”) (CSE: DCNN) (OTCPK: AGFAF), a company focused on opportunities within and outside of the cannabis industry, hereby provides an update regarding the proposed reverse take-over (the “RTO”) of Digicann by Arizona-based 3Win Corp. (“3Win”) (the “Proposed Transaction”). In consideration of the recent market volatility, which has created increased uncertainty and a challenging environment for capital markets activity, 3Win has elected to postpone the Proposed Transaction to the second half of 2025. This decision also reflects the impact of depressed public issuer valuations within the cannabis sector, which may not currently reflect the underlying fundamentals or future potential of 3Win’s business.
Article content
Article content
In addition, both parties have agreed that a delay will provide further time to refine strategic objectives, strengthen operational readiness, and explore additional opportunities that may enhance shareholder value and support a more favourable market reception upon closing. Digicann and 3Win remain committed to completing the Proposed Transaction and believe the adjusted timeline will better position the combined entity for long-term success.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Shareholder Meeting
Article content
As a result of the updated RTO timeline, Digicann must wait to call a special shareholder meeting to consider the Proposed Transaction and related matters. The Proposed Transaction will require the following approvals from shareholders of the Company: (i) at least two-thirds (66 2/3%) of the votes cast by shareholders present in person or represented by proxy and entitled to vote at the shareholder meeting, or (ii) a simple majority of the votes cast by shareholders present in person or represented by proxy and entitled to vote at the shareholder meeting, excluding votes of interested and related parties.
Article content
Article content
Conditions & Cautions
Article content
Completion of the Proposed Transaction is subject to a number of conditions precedent, including but not limited to, Digicann having a minimum amount of cash at closing of the Proposed Transaction, as well as receipt of all required shareholder, regulatory, and other approvals. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Article content
None of the Digicann shares to be issued in connection with the Proposed Transaction have been, or will be, registered under the United States Securities Act of 1933, as amended (the “1933 Act“), or any state securities laws, and may not be offered or sold within the United States or to any U.S. Person (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.
Article content
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities of Digicann in any jurisdiction where such offer or solicitation would be unlawful, including the United States.
English (US)