Cannara Biotech announces engagement of market maker services from Independent Trading Group
January 8, 2024 By Grow Opportunity Staff
(CNW) Montreal — Cannara Biotech Inc., a vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices with two mega facilities based in Quebec spanning over 1,650,000 sq. ft., today announced it has retained Independent Trading Group (ITG) to provide market making services in accordance with TSX Venture Exchange policies.
ITG will trade the securities of the company on the TSXV for the purpose of maintaining an orderly market. In consideration of the services provided by ITG, the company will pay ITG a monthly fee of $6,000 from the company’s available cash for a minimum term of one month and renewable for successive one-month terms thereafter.
Either Party may terminate the arrangement by providing written notice to that effect 20 days prior to the end of the then current term. The services provided by ITG will commence on January 8, 2024. The company and ITG are unrelated and unaffiliated entities and ITG has no interest, directly or indirectly in the company or its securities. ITG will not receive shares or options as compensation, nor have they indicated any immediate intent to acquire shares of the company through the open market or otherwise. The capital used for market making will be provided by ITG.
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