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").
温哥華,不列顛哥倫比亞省-(Newsfile Corp.-2022年2月1日)-C21投資公司(CSE:CXXI)(OTCQX:CXXIF) ("C21“或”公司),一家垂直整合的大麻公司,今天宣佈結束其發行C21普通股(以下簡稱C21)的義務幻影賺出股票(Phantom-Out Shares)“)對某些個人(”賣主“)根據購買協議(”虛擬採購協議)管理收購幻影農場(見2019年2月4日的新聞稿)(結算交易").
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.
根據影子購買協議,C21於2019年2月就收購影子農場向賣方支付的部分購買價將通過發行影子賺取股份支付,影子賺取股份的交付取決於若干觸發因素,包括各種價格目標以及控制權的任何變化,根據購買協議,可向賣方交付最多450萬股影子賺取股份。
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.
如本公司先前於二零二一年十一月十八日所公佈,本公司於二零一一年十一月十八日訂立一項協議(“和解協議於2021年11月18日),據此,根據影子購買協議有權獲得最多450萬股影子賺取股份的賣方同意共同獲得130萬股C21普通股(結算股份“),以換取他們獲得影子賺出股份的權利的終止。
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.
結算交易於2022年1月24日完成,向供應商發行了130萬股結算股票。結算股票的持有期為4個月,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,在完全稀釋的基礎上有129,695,907股(見第三季度MD&A上限表)。
For further inquiries, please contact:
如有進一步查詢,請聯繫:
Investor contact:
投資者聯繫方式:
Investor Relations
info@cxxi.ca
+1 833 289-2994
投資者關係
郵箱:info@cxxi.ca
+1 833 289-2994
Company contact:
公司聯繫人:
Michael Kidd
Chief Financial Officer and Director
Michael.Kidd@cxxi.ca
邁克爾·基德
首席財務官兼董事
郵箱:Michael.Kidd@cxxi.ca
About C21 Investments Inc.
關於C21投資公司
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投資公司是一家垂直整合的大麻公司,在美國種植、加工和分銷優質大麻和大麻衍生消費品。該公司專注於通過在戰略市場有紀律地收購和整合核心零售、製造和分銷資產來創造價值,利用行業領先的零售收入和高增長潛力的多市場品牌消費包裝產品。該公司在內華達州擁有銀州救濟和銀州種植,在俄勒岡州擁有幻影農場和生態菲爾瑪農場。這些品牌生產和分銷範圍廣泛的THC和CBD產品,包括大麻花、預卷、大麻油、蒸發筒和可食用產品。總部設在加拿大温哥華的C21投資公司的更多信息可以在和上找到。
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