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Not sure Guitars. On the one hand I would like to think they know what they are doing. The share price has struggled for a long time now, so something needs to change. That said I don't feel like we are getting a good deal, three of our shares for every one of theirs? We will basically have a third of our current holding in a share that is not very much more valuable than ours? Who knows?!
Ok folks, looks like the vote is happening on the 13th of sep an share holders can vote bia proxy by emailing ANNE.TEW@SATIVAGROUP.CO.UK
What we saying then? Shall we go through with it? With regulation to force many dodge manufactures to shut down, sativa could be in a good position to capitalise? Thaoughts on the tKe over folks?
I spoke with the Lady on the helpdesk / reception , what a lovley helpfull , patient person !!
Shes ticking up nicely
Thanks Willowman, i do get their email alerts but , they are sparce lately . will call the Lady and pick Her brains ;-)
Eddo12, what I did was contact Sati by email.
The admin is a lovely lady who will respond to you.
I also signed up for their email alerts.
Regards WM19
August i believe
Frustrated by lack of , info / news.
So are we part of Canna yet. Because we are still trading as Sativa here????
https://www.proactiveinvestors.co.uk/companies/amp/news/923874?__twitter_impression=true
Cheers for that Puffer
If the deal goes through 1 sativa share will be worth a third of stillcanna share and stillcanna shares are around 10 canadian cents ie 6p, or 2p a share
I spoke to HL and they told me that i will be notified of any votes, offers throught them (HL). If SATI gets bought out then they will continue to hold our converted canna shares via another broker.
Me too. I've sent a secure message asking HL. I'm guessing that as StillCanna shares are worth 10p, then the price for Sativa shares should be around 3.3p but no doubt there'll be charges taken out that if HL can trade Canadian Stock Exchange shares. Fortunately I didn't put much in, I'm not holding out much hope of getting a lot back.
I have bought Sativa shares through HL. What do I do just leave them and they will convert to the new merger company?
I can see today that they are being traded still under Sativa?
The board seems to be censoring "**************" throughout for some reason.
Sorry the cut and paste didn't work . Misssing section shouldread "The Offer is a share for ************** offer at a ratio of 0.33507 New Stillcanna Shares in exchange for each Scheme Share (the "Exchange Ratio").
Recently released announcement. What are your learned opinions?
RECOMMENDED ALL-SHARE OFFER for SATIVA GROUP PLC by STILLCANNA INC.
TO BE IMPLEMENTED BY MEANS OF A SCHEME OF ARRANGEMENT UNDER PART 26 OF THE COMPANIES ACT 2006
Summary
· Further to the announcements made on 22 April 2020 and 20 May 2020, the boards of directors of Stillcanna Inc. ("Stillcanna") and Sativa Group plc ("Sativa" or the "Company") are pleased to announce that they have reached agreement on the terms of a recommended share for ************** offer to be made by Stillcanna for the entire issued and to be issued share capital of Sativa (the "Offer"). It is intended that the Offer will be implemented by way of a Court-sanctioned scheme of arrangement between Sativa and its shareholders under Part 26 of the Companies Act 2006 (the "Scheme").
· Stillcanna, a Canadian company listed on the Canadian Securities Exchange (the "CSE") (ticker code: STIL), whose securities are also quoted on the OTC in the United States ("OTC") and the Open Market of the Frankfurt Stock Exchange ("FSE"), is a leader in cannabinoid extraction and agriculture. It is focused on the large-scale manufacturing of CBD in Europe and has built two high volume extraction facilities, positioning itself as a leader in seed to CBD supply.
· The Offer is a share for ************** offer at a ratio of 0.33507 New Stillcanna Shares in exchange for each Scheme Share (the "Exchange Ratio"). The Exchange Ratio attributes an implied value for the entire issued share capital of Sativa of approximately £10,662,680 (based on the closing price of CAD0.095 per Stillcanna Share on 21 April 2020, being the last Business Day in Toronto prior to the Possible Offer Announcement Date and using an exchange rate of CAD0.5885/£1).
· The proposed combination of Sativa and Stillcanna will result in Scheme Shareholders holding approximately 65.0 per cent. of the Combined Group and Stillcanna Shareholders holding approximately 35.0 per cent. of the Combined Group,
including all option and warrant instruments outstanding on a fully diluted basis.
· At the value implied by the Exchange Ratio, the Offer represents a discount of approximately:
· 28.6 per cent. to the middle market closing price of 2.6 pence per Sativa Share on 21 April 2020 (being the last Business Day in London prior to the Possible Offer Announcement Date, and Sativa Shares being suspended from trading); and
· 42.4 per cent. to the volume weighted average price per Sativa Share of 3.25 pence over the three month period ended on and including 21 April 2020 (being the last Business Day in London prior to the Possible Offer Announcement Date, and Sativa Shares being suspended from trading). The Sativa Shares currently remain suspended pending this announcement.
Are Sativa aware of this?
https://www.mirror.co.uk/science/coronavirus-strong-strains-cannabis-could-22069569?utm_source=twitter.com&utm_medium=social&utm_campaign=sharebar
Sativa Group due diligence of StillCanna Inc.
Posted by: Giles Arbor 20th May 2020
Sativa Group Plc (AQSE:SATI), the UK’s leading quoted CBD wellness and medicinal cannabis Group, announced on 22 April 2020 that it had entered into a letter of intent with StillCanna, Inc., regarding a possible offer for the Company.
In accordance with Rule 2.4(c) of the City Code on Takeovers and Mergers, the Offeror was required, pursuant to Rule 2.6(a) of the Code, by 5:00 p.m. on 20 May 2020 (the “relevant deadline”), to either (i) announce a firm intention to make an offer for Sativa in accordance with Rule 2.7 of the Code or (ii) announce that it does not intend to make an offer for Sativa.
In accordance with Rule 2.6(c) of the Code, at the request of the Directors of Sativa, the Panel on Takeovers & Mergers has consented to an extension of the relevant deadline, until 5:00 p.m. on 3 June 2020 to enable the parties to complete the compilation of the necessary information and due diligence required to produce the Scheme Document and the associated Rule 2.7 announcement of a firm intention to make an offer from the Offeror. By this time the Offeror must either announce a firm intention to make an offer for Sativa or announce that it does not intend to make an offer for Sativa, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This new deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
“Our due diligence in respect of StillCanna is progressing well and our expectation is to complete this process in the coming days” states Henry Lees-Buckley CEO of Sativa Group Plc.
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available on Sativa’s website (https://sativagroup.co.uk/).
Further announcements will be made as and when appropriate.
Hello mate, could explain more please
Apparently an extension with neccesary due diligence has been made. Should have been completed yesterday but is now extended to 3/6/20.
PRESS RELEASE ACCESSWIRE
Mar. 2, 2020, 04:45 AM
Related Stocks
StillCanna 0.07-0.01 (-7.53%) 4/17/2020 StillCanna Inc Registered Shs Disclaimer Get real-time StillCanna charts here >>
VANCOUVER, BC / ACCESSWIRE / March 2, 2020 / Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ("STIL" or the "Company") Stillcanna has obtained all approvals required to begin commercial operations at its ORIGIN extraction facility in Romania and the Company is pleased to announce the appointment of Mr. Paul van Issum as President of European Operations, effective immediately.
ORIGIN, a joint venture between Stillcanna and Dragonfly Biosciences Ltd. of the UK has received formal endorsement from the Romanian Environmental Protection Agency and Emergency Services Unit. The facility has also received its final operational permit from the town hall of Bailesti Romania. As the operational phase is implemented over the next quarter the Company is expected to begin hiring additional staff and commencing production trials.
Previously, Mr. van Issum was working directly with Mr. Dussault and the Stillcanna management team for more than a year, most recently as a consultant spearheading ORIGIN‘s permit and approval process with various regional and national authorities in Romania. Prior to this, he enjoyed an extensive career as a senior equity capital markets banker. Mr. van Issum is now responsible for the day-to-day operations for all of Stillcanna's European operations.
"With the approvals for our Romanian-based ORIGIN facility in hand, this is the right time to introduce Paul van Issum as our President of European Operations," commented Jason Dussault, CEO Stillcanna. "Paul's efforts in navigating the legal and regulatory frameworks in Romania are a major reason we received the necessary approvals to establish the first fully licensed purpose-built CBD extraction facility in Romania. We have full confidence in Paul's ability to push Stillcanna towards profitability and long-term success moving forward."
"Stillcanna's operations in Poland and Romania leave the Company uniquely positioned in this developing European CBD market," said Mr. van Issum. "I look forward to working with the Stillcanna team to transform this great opportunity into a profitable reality."
StillCanna Begins Hemp Initiative in Poland
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2019) - StillCanna Inc. (CSE: STIL) ("STIL" or the "Company") is pleased to announce it has begun its agricultural initiatives in Poland to farm over 1,500 hectares of its propriety high CBD content hemp varietal.
StillCanna has ordered and anticipates delivery in July of special harvesters and conveyors with proprietary dryers to make the harvest easy and efficient. The high-tech equipment is capable of speeds up to 15km per hour with a special four and a half meter wide cutting device. It's estimated that the Company's 2019 harvest will produce over 16 million grams of pure CBD. As our proprietary strain of hemp has a gestation period of 45 days, the Company is considering planting two crops on a number of its properties to increase its CBD production capabilities for 2020.
The Company anticipates breaking ground in May for its new CBD refinement facility in Poland, which is expected to cost approximately $6 million to complete its development. The facility is designed to have the capacity to initially produce up to 40 million grams of CBD annually with the ability to further build out the facility to increase production as necessary.
"Spring is an exciting time for global agriculture and StillCanna," explained Jason Dussault, Chief Executive Officer of StillCanna. "The expansion of our EU footprint into Poland is yet another milestone in the implementation of our business initiatives. With over 20 years experience in hemp cultivation, we look forward to meeting the ever increasing demand for quality CBD from our fields and facilities."
The Company also announces that it has engaged Native Ads Inc. to provide and manage a comprehensive digital media marketing campaign for the Company.
The Company has entered into an eight week programmatic digital advertising campaign for an approximate cost of one hundred thousand dollars for digital advertising, paid distribution, media buying and content creation. Neither Native Ads nor any of its directors and officers own any securities of the Company.
Thanks WM for clarifying things ;-)