STENOCARE enters final settlement agreement with CannTrust
STENOCARE A/S (“STENOCARE”) hereby announces that a settlement agreement with CannTrust Holding Inc. (“CannTrust”) has been signed. The one-off settlement agreement will clear all matters between the parties and STENOCARE receives a compensation comprising of CAD 500,000 and 272,727 shares in STENOCARE.
The two companies have arrived at the conclusion to end the partnership and all activities and negotiated a settlement agreement. STENOCARE receive a one-time payment of CAD 500,000 and 272,727 STENOCARE shares. The shares will be registered as ”own shares”, or treasure shares held by STENOCARE. With the execution of this settlement agreement both parties release and discharge the other part from all claims. According to the agreement, the payment/share transfer shall be executed immediately.
The net effect on STENOCARE’s Q4-19 profit and loss accounts will be calculated and included in the upcoming year-end report 2019, due on 26 February 2020.
STENOCARE CEO, Thomas Skovlund Schnegelsberg comments:
“We are very pleased to have reached to an amicable conclusion that allows both parties to leave all issues behind and move forward independently. At STENOCARE, we will now focus entirely upon our next big ambition: STENOCARE version 2.0”.
This information is information that STENOCARE A/S is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person below for publication on January 13, 2020.
For additional information regarding STENOCARE, please contact:
Thomas Skovlund Schnegelsberg, CEO
Phone: +45 31770060
About STENOCARE A/S
STENOCARE A/S was founded in 2017 with the purpose of being an active participant in the Danish medical cannabis pilot programme. The company was first to receive the Danish Medicines Agency's permission to import, distribute as well as cultivate and produce medical cannabis. STENOCARE is also developing a separate production facility for the cultivation and production of medical cannabis at the company’s premises in Jutland, Denmark.