Digicann Ventures Announces Agreement to Extend Maturity Date for Convertible Debentures

VANCOUVER, British Columbia, April 17, 2024 (GLOBE NEWSWIRE) -- Digicann Ventures Ltd. ("Digicann" or the "Company") (CSE: DCNN) (OTCPK: AGFAD), a company focused on opportunities within and outside of the cannabis industry, announces that it has entered into an agreement with holders of the Company's 10.00% Senior Unsecured Convertible Debentures (the "Debentures") to amend the Debentures to extend the maturity date for an additional twelve months from March 12, 2024 to March 12, 2025. As previously announced on March 14, 2024, the holders of the Debentures granted the Company forbearance on the maturity of the Debentures until April 30, 2024.

The Company has satisfied the aggregate accrued interest on the Debentures that was due on March 12, 2024 by the issuance of 2,501,807 common shares in the capital of the Company on a pro rata basis to the holders of the Debentures. As a result, the total number of common shares issued and outstanding as of the date of this news release is 21,631,090.

On May 30, 2023, the Company announced an agreement to amend the Debentures to extend the maturity date for an additional twelve months from March 12, 2023 to March 12, 2024.

About Digicann Ventures Inc.

Digicann Ventures Inc. is a company focused on opportunities within and outside of the cannabis industry. For more information about Digicann Ventures Inc. please visit www.digicann.io and its profile page on SEDAR at www.sedarplus.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

Nick Kuzyk, CEO & Director
E: [email protected]
T: (800) 783-6056

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project," "intend", "believe", "anticipate", "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward- looking statements including but not limited to delays or uncertainties with regulatory approvals including that of the CSE. There are uncertainties inherent in forward-looking information including factors beyond the Company's control. There are no assurances that the business plans for Digicann Ventures Inc. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators which are available at www.sedarplus.ca .

SOURCE: Digicann Ventures Inc.