Cannara Biotech Inc. announced that the company filed with the TSX Venture Exchange a Notice in respect of a normal course issuer bid to be transacted through the facilities of the TSX-V. Pursuant to the NCIB, Cannara may purchase up to 15,000,000 of its common shares representing approximately 1.7% of the total 877,481,321 common shares of Cannara issued and outstanding as at November 30, 2022 . Purchases will be made at prevailing market prices commencing December 3, 2022 and ending December 2, 2023. Cannara believes that the purchase of the shares would be an effective use of its funds and that the company’s publicly traded shares are currently undervalued in the market. The company expects that the purchase of shares will benefit remaining shareholders by increasing their equity interest in the company’s assets.

Cannara Biotech Inc. is a Bristol Investor Relations client and a vertically integrated producer of premium-grade cannabis and derivative products with one of the largest indoor cannabis cultivation facilities in Canada and the largest in Quebec.

Read the full press release here: Cannara Announces Normal Course Issuer Bid for Common Shares of the Corporation