CALGARY,
AB, Aug. 19, 2024 /CNW/ - Vencanna Ventures
Inc. (CSE: VENI) ("Vencanna" or the "Company"), an
Alberta-based go-to capital
provider for early-stage cannabis initiatives, announces that due
to its recently completed acquisition of The Cannavative Group LLC,
it will not be in a position to file its audited annual financial
statements for the year ended April 30,
2024, the related management's discussion and analysis and
related CEO and CFO certificates (collective, the "Required
Documents") by the required deadline of August 28, 2024. The Company expects to file the
Required Documents on or before September
27, 2024.
The Company has applied to the Alberta Securities Commission, as
principal regulator for the Company, for the imposition of a
management cease trade order under National Policy 12-203 –
Management Cease Trade Orders ("NP 12-203")
throughout the duration of the default.
The management cease trade order, if approved, will generally
not affect the ability of persons who are not or have not been
management of the Company to trade in its securities.
The Company confirms that it will satisfy the provisions of the
alternative information guidelines under NP 12-203 by issuing
biweekly default status reports in the form of news releases for so
long as it remains in default of the above-noted filing
requirements.
The Company confirms that there is no other material information
relating to its affairs that has not been generally disclosed.
Other than as disclosed herein, the Company is up to date in its
filing obligations.
About Vencanna
Vencanna is dedicated to offering investors a
diversified and high-growth cannabis investment strategy. It
proposes to achieve this through strategic investments and
acquisitions spanning the entire cannabis value chain, encompassing
cultivation, processing, distribution, retail, and ancillary
businesses, with a particular focus in the Unities States of
America.
Reader Advisory
Neither Canadian Securities Exchange nor its
Market Regulator (as that term is defined in policies of the
Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward-looking
information or statements. More particularly, and without
limitation, this news release contains forward-looking statements
and information concerning the anticipated filing of the financial
statements and the approval of the management cease trade order by
the Alberta Securities Commission.
Vencanna believes that the expectations and
assumptions on which such forward-looking statements and
information are based are reasonable, undue reliance should not be
placed on the forward-looking statements and information because
Vencanna can give no assurance that they will prove to be correct.
By its nature, such forward-looking information is subject to
inherent risks and uncertainties, which could cause the actual
results and expectations to differ materially from the anticipated
results or expectations expressed.
Neither the Canadian Securities Exchange nor
its Market Regulator accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Vencanna Ventures Inc.