Toronto, ON and New York, NY – [Date] – Ayurcann Holdings Corp. (“Ayurcann”), a leading Canadian cannabis extraction and production company, and Arogo Capital Acquisition Corp. (“Arogo”), a special purpose acquisition company (SPAC), are pleased to announce the successful completion of their business combination. This strategic merger positions Ayurcann for significant growth and includes a subsequent listing on the Nasdaq Stock Market.
Overview of Ayurcann Holdings Corp.
Ayurcann Holdings Corp. specializes in the extraction, refinement, and production of cannabis and hemp products for the adult-use and medical markets. With a focus on high-quality extraction processes, Ayurcann provides industry-leading cannabis derivatives to licensed producers, distributors, and retailers.
- Extraction Expertise: Ayurcann’s advanced extraction and refinement technologies ensure the production of premium cannabis oils, distillates, and isolates.
- Product Portfolio: The company offers a diverse range of products, including tinctures, vape cartridges, and topical formulations, catering to various consumer needs.
- Market Position: Ayurcann is recognized for its commitment to quality, compliance, and customer satisfaction, making it a preferred partner in the cannabis industry.
Overview of Arogo Capital Acquisition Corp.
Arogo Capital Acquisition Corp. is a SPAC focused on identifying and merging with high-potential companies in emerging industries. Arogo’s experienced management team brings extensive expertise in capital markets, strategic planning, and business development.
- Investment Strategy: Arogo targets companies with strong growth trajectories and robust business models in sectors such as technology, healthcare, and consumer goods.
- Value Creation: Through strategic mergers and acquisitions, Arogo aims to create value for shareholders by supporting companies in achieving their full potential.
Details of the Business Combination
The business combination between Ayurcann and Arogo creates a publicly traded entity that is well-positioned to capitalize on the rapidly growing cannabis market. The transaction involved the merger of Ayurcann with a subsidiary of Arogo, resulting in Ayurcann becoming a publicly listed company on Nasdaq.
- Transaction Structure: The merger was structured as a reverse takeover, with Ayurcann’s shareholders receiving shares of the combined entity. The deal was approved by the shareholders of both companies and met all regulatory requirements.
- Capital Infusion: The combination provides Ayurcann with substantial capital, which will be used to expand production capacity, enhance product development, and pursue strategic acquisitions.
- Leadership and Governance: The leadership team of the combined entity includes experienced executives from both Ayurcann and Arogo, ensuring continuity and strategic alignment.
Nasdaq Listing
Following the successful merger, the combined entity will commence trading on the Nasdaq Stock Market under the ticker symbol “AYCN.” The listing on Nasdaq enhances the company’s visibility in the global financial markets and provides access to a broader investor base.
- Trading Details: Ayurcann’s common stock and warrants will be listed under the symbols “AYCN” and “AYCNW,” respectively. The listing is expected to attract institutional and retail investors, providing greater liquidity and financial flexibility.
- Investor Relations: Ayurcann is committed to maintaining transparent and effective communication with its shareholders, providing regular updates on financial performance, strategic initiatives, and market developments.
Strategic Initiatives and Future Outlook
The business combination and Nasdaq listing are pivotal in Ayurcann’s growth strategy, enabling the company to scale its operations and expand its market presence.
- Production Expansion: Ayurcann plans to increase its production capacity to meet the growing demand for cannabis derivatives. Investments in state-of-the-art extraction facilities and technology will drive efficiency and product quality.
- Product Innovation: The company will continue to innovate and diversify its product offerings, focusing on new formulations and delivery methods to cater to evolving consumer preferences.
- Market Penetration: Ayurcann aims to expand its footprint in key markets, including the United States and Europe, leveraging strategic partnerships and distribution networks.
- Sustainability Initiatives: Commitment to sustainable practices remains a priority, with efforts to reduce environmental impact and promote responsible cannabis production.
Statements from Leadership
Igal Sudman, CEO of Ayurcann Holdings Corp., stated: “This business combination with Arogo Capital is a transformative milestone for Ayurcann. The Nasdaq listing provides us with the capital and platform needed to accelerate our growth and innovation in the cannabis industry. We are excited about the opportunities ahead and are committed to delivering value to our shareholders.”
John Doe, CEO of Arogo Capital Acquisition Corp., commented: “We are thrilled to partner with Ayurcann, a company with a strong foundation and significant growth potential. The combined entity is well-positioned to capitalize on the expanding cannabis market, and we look forward to supporting Ayurcann’s journey as a public company.”
Conclusion
The successful business combination and Nasdaq listing mark a significant chapter for Ayurcann Holdings Corp. With a solid financial foundation, advanced technology, and a clear growth strategy, Ayurcann is poised to lead the cannabis industry and deliver sustainable value to its shareholders.
