StillCanna Recruits Seasoned PhD to Manage Its Romanian Extraction Facility and Provides Update on Its Previously Announced Financing

Vancouver, British Columbia–(Newsfile Corp. – April 11, 2019) – STILLCANNA INC. (CSE: STIL) (FSE: 484) (“StillCanna” or the “Company”) is pleased to announce it has strengthened its Romanian operating team with the appointments of Dr. Bucur Ilie as General Manager and Ms. Georgiana Carsin as Production Manager.

Dr. Bucur Ilie holds a Ph.D. in Chemistry (Physical Chemistry) from the University of Craiova in Romania in addition to holding Graduate Degrees in Chemistry (Physical Chemistry, University of Bucharest) and Computer Science (University of Craiova). Dr. Ilie has held numerous state and private company positions including serving as General Director at the Research Center for Chemical Fertilizers, General Director at the Institute of Chemical Research and Applied Technologies, Director at Applied Systems SRL, as well as senior positions with the Environmental and Waters Management Ministry in Romania. Dr. Ilie is an accomplished university professor and researcher with publications including eight books, thirty published works, thirty research works, and fifty lectures. Dr. Ilie is an expert in laboratory research and modelling of chemical and biochemical processes.

Ms. Georgiana Carsin holds a Masters Degree in Chemistry from Polytechnic University in Bucharest with over 15-years of experience in agriculture and environmental protection. Ms. Carsin served as an environmental engineer with Agroindustriala Giubega for over five years, as an Engineer in Sanitary Engineering and Environmental Protection with Alcaruma Agro Consult Srl for over five years, and as a Research Engineer and Environmental Health Engineering with Applied Systems SRL for over five years. Ms. Carsin’s experience has been centered on environmental and process engineering within the agricultural sectors in Romania.

“We are excited to have Dr. Ilie and Ms. Carsin join our growing team in Romania,” stated Jason Dussault, President & CEO of StillCanna. “A company is only as strong as its people. Our ability to attract such high caliber individuals to our team is a testament of the foundation we are cultivating and the exciting opportunity it presents. Dr. Ilie is a highly accomplished academic and researcher with practical experience whose task is to assure we produce the highest quantity CBD possible. Ms. Carsin offers a complementary skill set with significant process engineering experience. As we ramp up to full production these experience scientists with practical knowledge simply solidifies our process.”

The Company is also pleased to announce that, further to its March 18, 2019 press release announcing a brokered private placement (the “Financing“) of subscription receipts at a price of $1.15 per subscription receipt for gross proceeds of up to $20,100,000 with the possibility of raising an additional $5,002,500 at the option of Canaccord Genuity Corp. (the “Agent“) and based on initial subscription results, it intends to complete the Financing on a fully subscribed basis. The Financing is expected to be completed on or about April 23, 2019, or such other date as mutually agreed to by the Company and the Agent, subject to the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued pursuant to the Financing will be subject to a four-month-and-one-day hold period from the closing date, in accordance with applicable Canadian securities laws.

Each subscription receipt shall entitle the holder thereof to receive, upon satisfaction of certain escrow release conditions (including the completion of the Olimax transaction previously announced on March 18, 2019) and without payment of any additional consideration or any further action on the part of each holder thereof, one unit of StillCanna. StillCanna anticipates closing the Olimax transaction within the first half of May 2019. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of 12 months from the date the escrow release conditions are satisfied at an exercise price of $1.73. If the escrow release conditions are not satisfied by June 30, 2019, the subscription receipts will be cancelled, and all proceeds from the brokered financing will be returned to subscribers.

ABOUT STILLCANNA INC.

StillCanna Inc. (CSE: STIL) (www.stillcanna.com) is a Canadian early-stage life sciences company focused on large-scale CBD extraction in Europe. Based on a proprietary process and intellectual property, the Company is forecasted to be one of the lowest-cost CBD extractors operating in Europe. The Company has signed an extraction contract to be the exclusive extractor for Dragonfly BioSciences LLC, a United Kingdom-based supplier of CBD. Upon the completion of the Olimax Transaction, StillCanna will be one of the leading processors and providers of market-ready CBD in Europe.

On Behalf of the Board,

Joel Leonard,
Chief Financial Officer and Director
E-mail: joel@stillcanna.com

The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.

Cautionary Note Regarding Forward Looking Statements: This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the financing being expected to be fully subscribed, the expected closing date of the financing being April 22, 2019 and that the Olimax transaction is expected to closing within the first half of May, 2019. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the financing will be fully subscribed, the financing will close as anticipated by management of the Company on April 22, 2019 and that the Olimax transaction will close as anticipated by management within the first half of May, 2019. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that the financing will not be fully subscribed, the financing will not close as anticipated by management of the Company on April 22, 2019 or at all and that the Olimax transaction will not close as anticipated by management within the first half of May, 2019 or at all. Readers are cautioned not to place undue reliance on forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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Going Public

As of November 16, 2018

We have filed our listing statement in connection with EVI Global Group Developments Corp.’s change of business with the CSE for comments.

Timeline

16May, 2019

Former President of the College of Naturopathic Physicians of British Columbia Joins StillCanna’s Team

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7May, 2019

Stillcanna Acquires Polish Hemp Producer and Receives the Proceeds of Its $24,365,000 Financing

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30Apr, 2019

StillCanna Begins Hemp Initiative in Poland

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25Apr, 2019

StillCanna Closes Oversubscribed Private Placement of Subscription Receipts for $24,365,000

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11Apr, 2019

StillCanna Recruits Seasoned PhD to Manage Its Romanian Extraction Facility and Provides Update on Its Previously Announced Financing

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28Mar, 2019

StillCanna Signs C$6 Million Per Month Agreement with California Based BioScience Enterprises, Inc. to Supply CBD

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18Mar, 2019

StillCanna Signs Definitive Agreement for the Acquisition of a Leading European Hemp Cultivator Olimax

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15Mar, 2019

StillCanna’s Anchor Extraction Customer Increases Its Monthly Order By Over 300%

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15Mar, 2019

EVI Global Group Developments Corp. (CSE: EVI) Changes to StillCanna Inc. (CSE: STIL), a Leading Extractor of CBD in Europe, and Begins Resumption of Trading

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19Feb, 2019

EVI’s European Based Extraction Facility Initiates Hemp Processing

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15Oct, 2018

EVI Global firms up acquisition of Borganic Consulting

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11Oct, 2018

EVI Global Group closes $4-million private placement

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6Sep, 2018

EVI Global Group to acquire Borganic Consulting

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Refinery #1 - Romania

June 7, 2018

LEASED FACILITY IN ROMANIA

June 7, 2018

COMPLETED FACILITY ENGINEERING DRAWINGS

August 1, 2018

ORDERED CUSTOM MANUFACTURED EQUIPMENT AND SCIENTIFIC EQUIPMENT

June 7, 2018

LEASED FACILITY IN ROMANIA

September 1, 2018

HIRED LOCAL ARCHITECT FOR PERMITTING

September, 2018

FLOORS, WASHROOMS, WALLS, ROOF AND CEILING ALL IMPROVED

October 1, 2018

LARGE HEMP SEPARATOR MACHINE ARRIVES ON SITE

November 15, 2018

ROMANIAN SUBSIDIARY COMPANY DOCUMENTS APPROVED & REGISTERED

November 22, 2018

ROMANIAN STAFFING PROCESS STARTED - FACILITY GM HIRED

November 25, 2018

SUCCESSFUL SITE VISIT OF GOVERNMENTAL ENVIRONMENTAL AGENCY

November 25, 2018

BAILESTI MAYOR VISIT - HEAVILY SUPPORTIVE

December 1, 2018

PLACED TWO 40 FOOT CONTAINERS AT FACILITY FOR STORAGE

December 5, 2018

FOUR CONTAINERS OF SPECIALIZED EQUIPMENT ARRIVED FROM SUPPLIERS FORKLIFT ARRIVED

  • Anticipated Upcoming Milestones
June 7, 2018

LEASED FACILITY IN ROMANIA

December 15, 2018

ASSEMBLY OF SEPARATOR MACHINE, GENERAL MANAGER HIRING STAFF FOR JAN 2019 START

December 20, 2018

COMPLETION OF 40 FOOT WALK IN FREEZER

January 1, 2018

COMPLETION OF INTERIOR WALLS AND SECURITY SYSTEMS

January 7, 2018

INSTALLATION OF SCIENTIFIC EQUIPMENT

January 21, 2018

BEGIN EXTRACTION

Update on Our Partners

Milestones

April, 2017

planted first crop

May, 2017

obtained first licence to grow

June, 2017

purchased first 10ha of land

September, 2017

commenced first run of finance

November, 2017

Closed first run of finance

January, 2018

extraction of first crop

February, 2018

dragonfly product online

March, 2018

open loan note

May, 2018

EIS status granted

July, 2018

3yr gmp licence granted

August, 2018

signed ceuta as a distributor

August, 2018

commenced second harvest

September, 2018

cbd content crop analysis 7.58%

September, 2018

J/V melabies

September, 2018

first bulk sale order (germany)

October, 2018

season 2 harvest completed

October, 2018

sale to day lewis pharmacy

October, 2018

starpharma

November, 2018

closed loan note

November, 2018

boots istribution deal

Industry News

15Oct, 2018

EVI Global firms up acquisition of Borganic Consulting

EVI ANNOUNCES PROPOSED ACQUISITION OF BORGANIC CONSULTING INC. In connection with the letter of intent with Borganic Consulting Inc. previously announced on Sept. 6, 2018, EVI Global Group Developments Corp. has entered into a definitive share exchange agreement with Borganic under which the company has agreed to acqui...Read More

11Oct, 2018

EVI Global Group closes $4-million private placement

EVI ANNOUNCES CLOSING OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT EVI Global Group Developments Corp. has closed its non-brokered private placement previously announced on Sept. 5, 2018. Due to increased demand, the previously announced private placement was increased from $3-million to $4-million with 16 million ...Read More