After Months Of Capital Crunch, Cannabis Company Lotus Ventures Completes Sale And Delisting
Cannabis company Lotus Ventures Inc. (OTC:LTTSF) (CSE:J) confirmed Monday that it has finalized a significant financial transaction. The Vancouver, Canada-based business sold 1,000 common shares to a purchaser, 5008679 Ontario Limited, for about CA$2.54 million ($1.87 million). Before this deal, the purchaser only owned about 6% of the company’s shares.
Under the deal, all other existing shares of Lotus were canceled, meaning the purchaser now owns 100% of the company. Consequently, Lotus was removed (delisted) from the Canadian Stock Exchange (CSE) and the OTC Markets on August 20, 2024. The company also plans to request the removal of a cease trade order that was issued …