C21 Investments Announces Settlement of Phantom Earn-Out Share Obligation
C21 Investments Announces Settlement of Phantom Earn-Out Share Obligation
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2022) - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, today announced the closing of the settlement of its obligation to issue common shares of C21 (the "Phantom Earn-Out Shares") to certain individuals (the "Vendors") pursuant to the purchase agreement (the "Phantom Purchase Agreement") governing the acquisition of Phantom Farms (see news release dated February 4, 2019) (the "Settlement Transaction").
温哥华,不列颠哥伦比亚省-(Newsfile Corp.-2022年2月1日)-C21投资公司(CSE:CXXI)(OTCQX:CXXIF) ("C21“或”公司),一家垂直整合的大麻公司,今天宣布结束其发行C21普通股(以下简称C21)的义务幻影赚出股票(Phantom-Out Shares)“)对某些个人(”卖主“)根据购买协议(”虚拟采购协议)管理收购幻影农场(见2019年2月4日的新闻稿)(结算交易").
Pursuant to the Phantom Purchase Agreement, a portion of the purchase price payable to the Vendors by C21 in connection with the acquisition of Phantom Farms in February 2019 was to be paid by the issuance of the Phantom Earn-Out Shares, the delivery of which was dependent upon certain triggers, including various price targets as well as any change of control, with up to 4.5 million Phantom Earn-Out Shares deliverable to the Vendors pursuant to the Purchase Agreement.
根据影子购买协议,C21于2019年2月就收购影子农场向卖方支付的部分购买价将通过发行影子赚取股份支付,影子赚取股份的交付取决于若干触发因素,包括各种价格目标以及控制权的任何变化,根据购买协议,可向卖方交付最多450万股影子赚取股份。
As previously announced by the Company on November 18, 2021, the Company entered into an agreement (the "Settlement Agreement") dated November 18, 2021, pursuant to which the Vendors, who were entitled to receive up to 4.5 million Phantom Earn-Out Shares pursuant to the Phantom Purchase Agreement, agreed to collectively receive 1.3 million common share of C21 (the "Settlement Shares") in exchange for termination of their entitlement to receive the Phantom Earn-Out Shares.
如本公司先前于二零二一年十一月十八日所公布,本公司于二零一一年十一月十八日订立一项协议(“和解协议于2021年11月18日),据此,根据影子购买协议有权获得最多450万股影子赚取股份的卖方同意共同获得130万股C21普通股(结算股份“),以换取他们获得影子赚出股份的权利的终止。
The Settlement Transaction closed on January 24, 2022 with 1.3 million Settlement Shares issued to the Vendors. The Settlement Shares are subject to a four month hold period expiring on May 25, 2022.
结算交易于2022年1月24日完成,向供应商发行了130万股结算股票。结算股票的持有期为4个月,至2022年5月25日到期。
As of today, C21 has 120,047,814 outstanding shares and 129,695,907 on a fully diluted basis (see Q3 MD&A cap table).
截至今天,C21有120,047,814股流通股,在完全稀释的基础上有129,695,907股(见第三季度MD&A上限表)。
For further inquiries, please contact:
如有进一步查询,请联系:
Investor contact:
投资者联系方式:
Investor Relations
info@cxxi.ca
+1 833 289-2994
投资者关系
邮箱:info@cxxi.ca
+1 833 289-2994
Company contact:
公司联系人:
Michael Kidd
Chief Financial Officer and Director
Michael.Kidd@cxxi.ca
迈克尔·基德
首席财务官兼董事
邮箱:Michael.Kidd@cxxi.ca
About C21 Investments Inc.
关于C21投资公司
C21 Investments is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multi-market branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, and Phantom Farms and Eco Firma Farms in Oregon. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 Investments can be found at and .
C21投资公司是一家垂直整合的大麻公司,在美国种植、加工和分销优质大麻和大麻衍生消费品。该公司专注于通过在战略市场有纪律地收购和整合核心零售、制造和分销资产来创造价值,利用行业领先的零售收入和高增长潜力的多市场品牌消费包装产品。该公司在内华达州拥有银州救济和银州种植,在俄勒冈州拥有幻影农场和生态菲尔玛农场。这些品牌生产和分销范围广泛的THC和CBD产品,包括大麻花、预卷、大麻油、蒸发筒和可食用产品。总部设在加拿大温哥华的C21投资公司的更多信息可以在和上找到。
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