lying p.o.s. Co. has $10 million in cash....
Vancouver, British Columbia – (Accesswire) – Tuesday October 15, 2019 – Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ("STIL" or the "Company") announces
5,536,985 warrants have expired as of close of business Thursday October 10, 2019.
When the Company completed its C$0.25 financing in October of 2018 it issued 8,000,000 whole warrants at an exercise price of C$0.50 to those participating in the private placement along with an additional 421,000 brokers warrants. As of the close of business October 10, 2019, 2,884,305 of these warrants had been exercised for total cash proceeds of C$1,442,150.50.
Stillcanna currently has 109,962,392 shares outstanding, over 10 million in cash, significant capital assets in both Romania and Poland and no debt financing. The Company does not anticipate requiring additional financing to complete its initial business plan.
“We are in a very strong position with a healthy balance sheet consisting of tangible assets, cash and no debt,” stated Jason Dussault CEO of Stillcanna. “With our Polish NEXUS extraction facility ramping up to commercial production this quarter, our Romania ORIGIN extraction facility (a joint venture with UK based Dragonfly Biosciences) built and awaiting final operational approvals, we have accomplished a lot in the past 5 months from our last financing in May 2019. Our team has been delivering upon its mandates as we look forward to a strong Q4 and additional growth through 2020.”