CALGARY, AB – CanadaBis Capital Inc. terminated an Arrangement Agreement with Simply Solventless Concentrates Ltd. (SSC), effective immediately.
On March 11, 2025, CanadaBis entered into an Arrangement Agreement with SSC pursuant to which SSC was to acquire all of the issued and outstanding common shares of CanadaBis by way of a court approved plan of arrangement under the Business Corporations Act (Alberta).
Recent information constitutes an “SCC Material Adverse Change” under the terms of the Arrangement Agreement and management believes it’s in the best interest of the shareholders and stakeholders of CanadaBis to terminate the Arrangement Agreement. As such CanadaBis has communicated with SSC that it does not intend to proceed with the arrangement at this time.
A number of individuals had entered into voting and support agreements pursuant to which they have agreed, subject to the terms thereof, to support and vote all of their shares in favour of the transaction. All these voting and support agreements terminate automatically upon termination of the Arrangement Agreement.
About CanadaBis Capital Inc.
CanadaBis (TSXV: CANB) is a vertically integrated Canadian cannabis company focused on achieving large-scale growth in the global cannabis market – with specific attention paid to supplying the fast-emerging concentrates category through their Stigma Grow cultivation and BHO extraction facility.
