MONTREAL, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Cannara Biotech Inc. ("Cannara", "the Company", "us" or "we") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB0), a vertically integrated producer of premium-grade cannabis products at disruptive prices with two mega facilities based in Québec spanning over 1,650,000 sq. ft., is pleased to announce that the common shares of the Company ("Common Shares") are now eligible for electronic clearing and settlement in the United States through The Depository Trust Company ("DTC").
DTC eligibility will expand access and reduce costs for U.S. investors purchasing Cannara shares enhancing Cannara's trading liquidity. As a subsidiary of the Depository Trust & Clearing Corporation, DTC facilitates the electronic clearing and settlement of publicly traded securities in the United States. With this eligibility, the Company's shares can now be traded through a wider network of U.S. brokerage firms, enabling faster transactions and broader market access.
"Achieving DTC eligibility marks an important milestone in our capital markets strategy," commented Zohar Krivorot, Founder and Chief Executive Officer of Cannara Biotech. "This step makes it easier for American investors to trade our shares, broadens our potential shareholder base, and further enhances Cannara's visibility in the United States as the industry positions itself for potential federal regulatory reform."
Completion of Olymbec Share Issuance
Further to its news release dated October 2, 2025, the Company is also pleased to announce the completion of the issuance of 3,462,763 Common Shares to Olymbec Investments Inc. ("Olymbec"), at an issue price of $1.80 per share, in full payment of approximately $6.2 million of indebtedness, consisting of $4.7 million in principal and approximately $1.5 million in accrued interest, under its convertible debenture issued to Olymbec, the proceeds of which were used to purchase Cannara's mega production facility in Valleyfield, Quebec.
"The Olymbec Share Issuance, triggered by Olymbec under the terms of the debenture, further reduces our debt leverage and interest obligations while preserving liquidity to support the execution of our long-term growth strategy," said Nicholas Sosiak, Chief Financial Officer of Cannara Biotech. "The transaction is expected to strengthen Cannara's balance sheet and enhance our financial flexibility. We would like to thank Olymbec for their continued confidence and historical support of Cannara."
Clarification Regarding Options Granted in Connection with Investor Relations Services
Further to the Company's press release dated October 2, 2025, the Company wishes to clarify that the 40,000 stock options granted to Bristol Capital Ltd. on April 25, 2025, will expire forty-eight (48) months from the date of grant. Accordingly, the options will expire on April 25, 2029 (and not April 25, 2028, as previously stated). All other terms remain unchanged.
CONTACT
| Nicholas?Sosiak, CPA, CA Chief Financial Officer nick@cannara.ca? | Zohar?Krivorot? Founder & Chief Executive Officer? zohar@cannara.ca? |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT CANNARA
Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB0), is a vertically integrated producer of affordable premium-grade cannabis products for the Canadian markets. Cannara owns two mega facilities based in Québec spanning over 1,650,000 sq. ft., providing the Company with 100,000 kg of potential annualized cultivation output. Leveraging Québec's low electricity costs, Cannara's facilities produce premium-grade cannabis products at an affordable price. For more information, please visit?cannara.ca.
CAUTIONARY STATEMENT REGARDING "FORWARD-LOOKING" INFORMATION
This news release may contain "forward-looking information" within the meaning of Canadian securities legislation ("forward-looking statements"). These forward-looking statements are made as of the date of this MD&A and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements with respect to the anticipated benefits of DTC eligibility of the Common Shares and the completion of the Olymbec Share Issuance.
Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, the Company and its operations, its projections or estimates about its future business operations, its planned expansion activities, anticipated product offerings, the adequacy of its financial resources, the ability to adhere to financial and other covenants under lending agreements, future economic performance, and the Company's ability to become a leader in the field of cannabis cultivation, production, and sales.
In certain cases, forward-looking statements can be identified by the use of words such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur" or "be achieved" or the negative of these terms or comparable terminology. In this document, certain forward-looking statements are identified by words including "may," "future," "expected," "intends" and "estimates." By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in, or implied by, such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors which are discussed in greater detail under "Risk Factors" in the Company's AIF available on SEDAR+ at www.sedarplus.ca and under the "Investor Area" section of our website at https://www.cannara.ca/en/investor-area.
Other risks not presently known to the Company or that the Company believes are not significant could also cause actual results to differ materially from those expressed in its forward-looking statements. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions were made in preparing the forward-looking information concerning the availability of capital resources, business performance, market conditions, as well as customer demand. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
