TORONTO–(BUSINESS WIRE)–CannaPiece Corp. (the “Corporation”) and CannaPiece Group Inc. (“CGI”) are pleased to announce that a sale transaction (the “Transaction”) of all issued and outstanding shares of the Corporation to 1000420548 Ontario Inc. (the “Purchaser”), pursuant to a share purchase agreement dated February 8, 2023 executed by the Corporation, CGI, and the Purchaser (the “SPA”), has successfully closed. The Transaction is in connection with the Corporation’s creditor protection proceedings under the Companies’ Creditors Arrangement Act and the Stalking Horse Sales Process approved pursuant to the Order of Justice Penny dated November 10, 2022. The Ontario Superior Court of Justice (Commercial List) authorized and approved the SPA on February 10, 2023, and the Transaction closed on the same day. The Corporation continues to operate, in the normal course, under new ownership.
ON BEHALF OF THE BOARD
Afshin Souzankar, CEO
About CannaPiece Corp.
The Corporation is a leading Canadian contract manufacturer of cannabis products, providing the industry with services and products to cover gaps in the supply chain to get its clients’ products to provincial distributers. CannaPiece offers a complete selection of high-quality services, ranging from R&D and product development to third-party processing, packaging, standard and infused pre-roll manufacturing, and hydrocarbon extraction.
Learn more at www.cannapiece.ca ; Instagram: @cannapiece; Facebook: @CannaPieceCorporation; Twitter: @CannaPieceCorp
Contacts
Eric Akbar, President, eric@cannapiece.ca
