Financial Highlights
The following table summarizes key financial highlights associated with the Corporation's financial performance for the last eight quarters.
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Revenue | 127,166 | 950,424 | 307,630 | 281,650 | 113,548 | 222,857 | 900 | 95 |
Gain (Loss) for the period | (253,263) | 712,761 | 59,196 | (60,828) | (205,824) | (1,390,478) | (232,744) | (286,799) |
Gain (Loss) per share - basic | 0.00 | 0.00 | 0.00 | (0.00) | (0.00) | (0.02) | (0.00) | (0.00) |
Total assets | 10,873,139 | 9,293,961 | 8,671,208 | 8,438,837 | 8,468,446 | 8,603,826 | 8,633,369 | 9,231,900 |
Total liabilities | 1,870,846 | 76,132 | 66,268 | 37,109 | 58,138 | 58,370 | 14,829 | 449,524 |
As of the date hereof, a major portion of the Corporation's business was derived from material ancillary involvement in US cannabis-related activities. As at
Corporate Activity and Update
On
The Debenture matures on
Normal Course Issuer Bid ("NCIB")
On
The Corporation announces its intention to re-commence its NCIB (the "Bid"). Under the Bid, the Corporation may purchase up to 5% of the Corporation's Shares. The Bid is expected to commence no sooner than
Vencanna is executing the Bid because it believes that, from time to time, the market price of its Shares does not reflect the underlying value of the Corporation and its prospects, and that depending on the trading price of its Shares and other relevant factors, purchasing its own Shares represents an attractive investment opportunity and is in the best interests of the Corporation and its shareholders.
All Shares will be purchased under the Bid on the open market and through the facilities of the CSE and payment for the Shares will be made in accordance with CSE policies. The timing and extent of repurchases will depend upon several factors, including market and business conditions, valuation of Shares, regulatory requirements and other corporate considerations. The price paid for Shares will be the prevailing market price at the time of purchase and all Shares acquired by the Corporation will be cancelled. The Corporation has 181,991,390 Shares issued and outstanding as of today's date. Purchases may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the Bid. The Corporation has engaged
"This Bid reflects, through investing in ourselves, our high confidence in the Corporation's growth prospects and its ability to execute," said Vencanna CEO
COVID-19
The Corporation cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may have a significant negative effect on the Corporation. While the precise impact of the COVID-19 virus on the Corporation and its US cannabis related investments remain unknown, rapid spread of the COVID-19 virus may have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people, consumer spending and the financial markets, which could in turn affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations for the Corporation's current and future investments and other factors relevant to the Corporation.
About Vencanna
On
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, the Corporation's assessment of future plans and investment strategy, and, more particularly, statements concerning the business plan of the Corporation including future global cannabis investments, the effects of the COVID-19 pandemic and the Bid. When used in this news release, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Corporation, including the impact of increasing competition; timing and amount of capital expenditures; the legislative and regulatory environments of the jurisdictions where the Corporation will carry on business, has operations or plans to have operations; the ability of the Corporation to enter into contracts with companies to provide financing on acceptable terms; conditions in general economic and financial markets; and the Corporation's ability to obtain additional financing on satisfactory terms or at all. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Corporation believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized.
Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, changes to global cannabis laws, how the developing
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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