On August 30, 2024, a public company listed on the Canadian Securities Exchange (CSE) under the trading symbol “PWR” and on the US OTC Market under the symbol “CPIVF”, Captiva Verde Wellness Corp., announced that it has entered into a share repurchase agreement with its wholly-owned subsidiary, 1435300 B.C. Ltd., Ronnie Strasser, and certain shareholders of the company. This agreement involves transferring the company’s interest in Sonny Sports Holdco to Strasser and the Purchasing Shareholders in exchange for the cancellation of a specified number of common shares and warrants.
According to Jeff Ciachurski, CEO of Captiva Verde Wellness Corp., this proposed transaction aims to unwind a previous acquisition and refocus the company on its original business as described in its prospectus from September 20, 2018.
In addition to the Repurchase Agreement, the company will enter into an Option Agreement with Strasser and certain shareholders to identify purchasers of a certain number of common shares. Furthermore, a Consulting Debt Assumption and Settlement Agreement will be established to settle liabilities owed to Strasser and affiliates by Sonny Sports Holdco.
The completion of these transactions is subject to regulatory approvals, and there is no guarantee that they will close as described. It’s important to note that forward-looking statements have been made in this announcement, and actual results may differ from those anticipated due to various uncertainties and risks.
