Brief: Alcanna And YSS Corp. Announce Combination Of Cannabis Retail Businesses

Nova Cannabis

18/01/2021 12:57

Jan 18 (Reuters) - YSS Corp  YSS.V :
    * ALCANNA INC. AND YSS CORP. ANNOUNCE COMBINATION OF
CANNABIS
RETAIL BUSINESSES TO FORM NOVA CANNABIS INC. AND CONCURRENT $25
MILLION EQUITY FINANCING
    * APPROXIMATELY 80% OF NEW NOVA'S LOCATIONS ARE EXPECTED TO
BE
RE-BRANDED AS "VALUE BUDS"
    * YSS - IN CONNECTION WITH DEAL, ACS LP, THROUGH UNIT TO
COMPLETE
A BROKERED PRIVATE PLACEMENT OF AT LEAST 8.3 MILLION
SUBSCRIPTION RECEIPTS OF ACS FINCO
    * YSS CORP - AFTER COMPLETION OF AMALGAMATION AND ASSUMING
CONCURRENT FINANCING IS COMPLETED, ANTICIPATED ALCANNA WILL HOLD
ABOUT 69.2%
    * YSS CORP - AFTER COMPLETION OF AMALGAMATION AND ASSUMING
CONCURRENT FINANCING IS COMPLETED, ANTICIPATED CURRENT YSS
SHAREHOLDERS WILL HOLD ABOUT 14.7%
    * YSS CORP - AGREEMENT AND CONCURRENT FINANCING IMPLY A
DEEMED
VALUE FOR NEW NOVA OF $130 MILLION
    * YSS CORP - AGREEMENT AND CONCURRENT FINANCING IMPLY A
DEEMED
VALUE PER COMMON SHARE OF YSS OF ABOUT $0.1635

Source text for Eikon:  ID:nGNX9nkGmC 
Further company coverage:  YSS.V 

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