10:51:09 EDT Tue 21 May 2024
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Fincanna holder Simpson's holdings up to 35.42%

2023-11-24 16:45 ET - News Release

Mr. Bob Simpson reports

FINCANNA SHARE AND DEBENTURE ACQUISITIONS, HOLDINGS AND ISSUER ACTIONS

Bob Simpson, indirectly through 2852138 Ontario Inc., has acquired common shares and debentures of FinCanna Capital Corp. and the effect of FinCanna issuer actions.

The holder acquired 517,516 common shares and 941,000 debentures for $20 to hold 1,001,522 common shares and 1,818,500 debentures. The debentures held were convertible into 12,123,333 common shares for deemed holding of 13,124,855 common shares representing on a partially diluted basis 16.46 per cent of the then outstanding FinCanna common shares.

Upon FinCanna amending the debentures to convert pro rata 55 per cent of debentures outstanding and reduce the conversion price to 0.5 cent, the holder held a further 351,576,667 common shares representing on a partially diluted basis 34.14 per cent of the outstanding common shares for an aggregate holding of 364,701,522 common shares representing on a partially diluted basis 35.42 per cent of the then outstanding common shares.

The holder acquired common shares and debentures for investment and tax planning purposes. The holder may acquire and/or dispose of securities held depending on market conditions, tax considerations, reformulation of plans or other factors.

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