Toronto, Ontario–(Newsfile Corp. – February 24, 2023) – Portfolio Stewards Inc. (“PS“) announces that in connection with the amendment of certain terms including the reduction of conversion price to $0.005 per share and the conversion of an aggregate of 55% of outstanding secured convertible debentures (the “Debenture Amendments“) of FinCanna Capital Corp. (“FinCanna“), PS acquired, on behalf of managed accounts, indirect control and direction over approximately 447,222,490 common shares in the capital of FinCanna. Before the Debenture Amendments, PS exercised indirect control and direction over 71,513,252 common shares (“Shares“) on a partially diluted basis representing approximately 49.16% of FinCanna’s outstanding Shares on a partially diluted basis. After the Debenture Amendments, PS exercised indirect control and direction over 857,527,409 Shares on a partially diluted basis representing approximately 69.56% of FinCanna’s outstanding Shares on a partially diluted basis. This represents an increase of approximately 20.40% in the Shares over which PS exercises indirect control and direction on a partially diluted basis.
The Common Shares were acquired for investment purposes and may, depending on tax considerations, market and other factors, increase or decrease its indirect control and direction of the Common Shares or other securities of FinCanna.
For more information or to obtain a copy of the early warning report filed under National Instrument 62-103, please contact:
Portfolio Stewards Inc.
Attention: Paul Tyers
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