Lotus Announces Closing of Previously Announced Transactions
Lotus Announces Closing of Previously Announced Transactions
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Lotus Ventures Inc. (CSE: J) ("Lotus" or the "Company") announces today that it has closed the previously announced transaction (the "Transaction") contemplated by the Company's proposal to its creditors, as amended (the "Proposal"), and the Company's subscription agreement dated May 3, 2024 with 5008679 Ontario Limited (the Purchaser"), as amended and restated on June 4, 2024 and further amended on July 15, 2024 (the "Agreement"). The Transaction was completed in accordance with the terms of the Agreement and the provisions of a reverse-vesting order granted by the Supreme Court of British Columbia In Bankruptcy and Insolvency on June 14, 2024 (the "RVO").
溫哥華,不列顛哥倫比亞州-(新聞稿-2024年8月19日)-蓮花Ventures Inc. (CSE: J) ("蓮花"或"公司")今天宣佈,根據公司向債權人提出的提案("提案")及於2024年5月3日與5008679 Ontario Limited ("購買方")簽署的認購協議,並經2024年6月4日進一步修改及於2024年7月15日再度修改的協議("協議"),以及加拿大不列顛哥倫比亞省最高法院破產與破產申請頒發的反向完全套期權令("RVO"),該公司已完成先前宣佈的交易("交易")。該交易已根據協議條款及RVO規定完成。
As part of the completion of the Transaction, the Company has issued to the Purchaser 1,000 common shares of the Company (the "Subscribed Shares") for an aggregate, all-inclusive purchase price of $2,538,398.00 and all of the previously issued and outstanding securities of the Company (other than the Subscribed Shares) have been cancelled without consideration. The Purchaser, located at 1662 Valley Close, Burlington, Ontario, L7P 4W4, is now the sole securityholder of the Company. Prior to the Transaction, the Purchaser held, directly or indirectly, 7,003,733 common shares of the Company, representing 6% of the issued and outstanding common shares of the Company.
作爲交易完成的一部分,公司發行1,000股公司普通股("認購股"),以總購買價2,538,398.00美元出售,並取消了公司全部已發行和未償還的證券(除認購股以外的證券)。位於安大略省伯靈頓市1662 Valley Close的購買方現已成爲公司唯一的證券持有人。在交易之前,購買方直接或間接持有公司的7,003,733股普通股,相當於已發行並未流通的普通股的6%。
Lotus is expected to be delisted from the CSE effective at the close of trading on August 20, 2024, and is expected to be concurrently delisted from the OTC Markets. Lotus also expects to make an application to seek full revocation of the failure-to-file cease trade order issued on April 4, 2024, and to cease to be a reporting issuer in each of Alberta, British Columbia, and Ontario.
預計蓮花股份將在2024年8月20日交易結束時從CSE交易所撤銷上市,並同時從OTC Markets撤銷上市。蓮花還預計將申請尋求關於2024年4月4日發出的未能提交報告所致止交令的全面撤銷,並停止成爲阿爾伯塔、不列顛哥倫比亞和安大略每個地區的報告發行人。
Further information regarding the Proposal and the Agreement, including copies thereof, can be accessed through the website hosted by MNP Ltd., in its capacity of proposal trustee of Lotus in the Proposal proceedings, at: Lotus Ventures Inc | MNP LTD (mnpdebt.ca).
有關建議和協議的進一步信息,包括副本,可以訪問由MNP Ltd.託管的網站,作爲建議程序中Lotus的建議受託管理人,在此處:Lotus Ventures Inc | MNP LTD(mnpdebt.ca)。
This disclosure is also issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids, which requires an early warning report to be filed containing additional information with respect to the foregoing matters. A copy of the early warning report will be made available on SEDAR+ under Lotus' profile at . To obtain a copy of the early warning report, or further information, please contact Albert Duwyn, President of Lotus, at 416-460-7058.
本公告還根據多邊協議62-104-收購要約和發行人要約要求發佈,其中要求提交一份早期警告報告,其中包含有關上述事項的其他信息。早期警告報告的副本將在衛星+ Lotus'高級檔案下提供。要獲取早期警告報告或進一步信息,請聯繫蓮花公司總裁Albert Duwyn,電話416-460-7058。
About Lotus Ventures Inc.
Lotus Ventures Inc. is a BC based licensed cannabis producer. Lotus grows premium cannabis which is carried in retail locations across BC and Ontario.
關於蓮花企業股份有限公司。
蓮花企業股份有限公司是總部位於BC的持牌大麻生產商。蓮花種植優質大麻,其產品銷售於BC和安大略省的零售店。
Forward-Looking Information:
This document includes certain statements that are not descriptions of historical facts but are forward-looking statements. Such statements include, among others, those concerning the delisting of Lotus from the CSE and OTC Markets and the timing thereof, receipt of a revocation order relating to the applicable cease trade order of Lotus, Lotus ceasing to be a reporting issuer in Alberta, BC and Ontario, our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for medical and recreational cannabis products, our expectations regarding the continued growth of the medical and recreational cannabis market, as well as all assumptions, expectations, predictions, intentions, or beliefs about future events. Users are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties have not been documented or mentioned in this document nor other communications made by the company. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
前瞻性信息:
本文件包括某些不是歷史事實描述的陳述,而是前瞻性陳述。這些陳述包括但不限於有關蓮花從CSE和OTC Markets中的退市以及時間,關於有關蓮花的適用停止交易令吊銷令的撤銷要求,特定風險因素和不確定性的描述,我們預期的財務表現和策略性、操作性計劃,我們的未來經營業績,我們關於醫療和娛樂大麻產品市場的預期,我們關於醫療和娛樂大麻市場持續增長的預期,以及所有假設、期望、預測、意圖或對未來事件的信念。用戶應注意,任何此類前瞻性陳述均不能保證未來業績,一些風險和不確定性可能會使我們的實際結果與前瞻性陳述所預測的結果存在實質性差異。本文檔未記錄或提及這些風險和不確定性。"相信"、"預計"、"期望"、"項目"、"目標"、"樂觀"、"打算"、"瞄準"、"將"或類似的表達旨在識別前瞻性陳述。除歷史事實陳述外,所有陳述均可能被視爲前瞻性陳述。公司不承擔任何義務,並不打算更新任何前瞻性陳述,除非法律另有要求。
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
加拿大證券交易所不對本公告的充分性或準確性負責。
譯文內容由第三人軟體翻譯。