Canna-Global Acquisition in an 8-K filing today said redemptions ahead of its November extension vote removed approximately $212 million from trust, leaving about $24.3 million.
The SPAC may extends its merger deadline in monthly increments until Dec. 2, provided 4.5 cents per share is deposited into trust for each month.
Canna-Global is focused on target businesses addressing a large market opportunity with a company that is driving its growth in the medicinal cannabis or cannabinoid industry.
The SPAC has said negotiations for a definitive agreement with a potential target are underway, although no announcement has been made. Read more.
