DOVER, Del., July 01, 2024 (GLOBE NEWSWIRE) -- Liqueous LP announced today that it is working with Canna-Global Acquisition Corp. (NASDAQ:CNGL) to address Canna-Global's invalid issuance of Class A common stock to Liqueous LP. When Liqueous acquired the shares, Canna-Global represented in writing that the shares were duly and validly issued, and Liqueous relied on those representations, which Liqueous now understands may be inaccurate. Liqueous intended to acquire the Canna-Global shares in exchange for the ...

NEW YORK, July 1, 2024 /PRNewswire/ -- Continental Stock Transfer &Trust Company, New York, NY, stock transfer agent and trustee for Canna Global Acquisition Corp. (NASDAQ: CNGL, CNGLU and CNGLW), announced today that, in light of the failure of Liqueous LP to return 724,000 shares of Canna Global Class A common shares issued to them based on instructions from Canna Global in contravention of its Certificate of Incorporation, and in the absence of an agreement by which Liqueous would provide a backstop guar ...

For news and additional information about the company, please contact the company directly or check under the company's symbol using InfoQuotesSM on the Nasdaq® Web site. Nasdaq Media Contact: NEW YORK, June 28, 2024 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that the trading halt status in Canna-Global Acquisition Corp (Nasdaq: CNGL, CNGLU and CNGLW) was changed to "additional information requested" from the company. Trading in the company's stock had been halted on June 27, 2024 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Canna-Global Acquisition Corp (Exact name of registrant as specified in its charter) Delaware 86-3692449 (State or other jurisdiction of incorporation or o ...

Financial Performance - Total current assets as of December 31, 2023, amounted to $229,422, a significant increase from $85,826 in 2022, representing a growth of 167%[8] - Cash and marketable securities held in the trust account decreased to $12,304,455 in 2023 from $24,599,703 in 2022, a decline of 50%[8] - Total liabilities increased to $11,437,186 in 2023, up from $9,360,198 in 2022, reflecting a rise of 22%[8] - The company reported a working capital deficit of $3,157,764 as of December 31, 2023, compared to a working capital of $190,000 in 2022[17] - The accumulated deficit grew to $(11,207,771) in 2023 from $(7,693,908) in 2022, indicating an increase of 46%[10] - The total stockholders' deficit reached $(11,207,764) in 2023, compared to $(7,693,901) in 2022, marking a rise of 46%[10] - The company has cash available of only $743 on its balance sheet as of December 31, 2023, down from $853,288 in 2022[17] - The Company generated taxable income of $1,196,903 for the year ended December 31, 2023, with an income tax expense of $208,227, compared to taxable income of $1,042,912 and an income tax expense of $231,252 for 2022[34] - The Company incurred Delaware franchise tax of $149,324 for the year ended December 31, 2023, down from $206,719 in 2022, representing a decrease of approximately 28%[33] Trust Account and IPO - The total gross proceeds from the IPO were $200,000,000, with an additional $8,025,000 raised from private placements[22] - As of December 31, 2023, the balance in the Trust Account was $12,304,455, a decrease of 50% from $24,599,703 on December 31, 2022[23] - A total of $233,450,000 was placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company after the IPO[98] - The Trust Agreement was amended to extend the liquidation date of the Trust Account from December 2, 2022, to December 2, 2023, with a deposit of $0.045 per share of Class A Common Stock per month[100] - An amendment to the Trust Agreement was approved to extend the liquidation date of the Trust Account to December 2, 2024, with a deposit of $0.045 per share per month[147] Business Combination Efforts - The company intends to focus its acquisition efforts on the natural resources industry, particularly in oil and gas sectors, leveraging its management team's expertise[13] - The Company has engaged in multiple agreements related to its business combination efforts, including a Bid Implementation and Business Combination Agreement dated June 15, 2023[10.13] - The Company has extended the time to complete a Business Combination five times, indicating ongoing efforts to finalize a suitable transaction[64] - The company aims to apply any unutilized cash from the trust account for general corporate purposes, including potential acquisitions and operational expansion[79] - The company has until December 2, 2024, to complete its initial business combination, with the possibility of one-month extensions[144] Redemption and Shareholder Rights - The company has a commitment to redeem public shares upon completion of a business combination, ensuring net tangible assets of at least $5,000,001[18] - Public stockholders can only receive funds from the trust account under specific conditions, including failure to complete an initial business combination within the designated period[72] - The company will not redeem public shares if it would cause net tangible assets to fall below $5,000,001 to avoid SEC's "penny stock" rules[70] - The company has agreed not to propose amendments affecting redemption obligations without providing public stockholders the opportunity to redeem their shares[71] - Stockholder approval will be required for the initial business combination if it results in a change of control[176] Market and Industry Focus - The market growth is driven by the expanding demand for legal cannabis, with increasing acceptance for medical marijuana treatments[62] - The adult-use segment of the cannabis market held a revenue share of 54.6% in 2020 and is expected to witness significant growth from 2021 to 2028[123] - North America dominated the legal marijuana market with a revenue share of 79.6% in 2020[123] - The chronic pain segment accounted for 44.8% of the cannabis market in 2020, indicating a strong demand for cannabis in pain management[125] - The global legal marijuana market was valued at $9.1 billion in 2020 and is expected to grow at a CAGR of 26.7% from 2021 to 2028[152] Management and Operational Considerations - The company intends to focus on companies with institutional-level operations and financial controls, scalability, and opportunities for value creation[128] - The management team is actively pursuing and reviewing potential business combination opportunities in the cannabis industry[121] - The company plans to evaluate additional opportunities in the cannabis industry to capture growth and value across the supply chain[121] - The company’s management team may not have significant experience in managing the operations of the target business post-acquisition[67] - Officers and directors may have fiduciary or contractual obligations to present business combination opportunities to other entities, which could affect the company's ability to pursue certain targets[197] Risks and Challenges - Risks may arise if the company completes a business combination with a financially unstable or early-stage business, which could impact future performance[199] - The company's success may depend on the performance of a single business post-combination, limiting diversification and increasing risk[200] - There is uncertainty regarding whether key personnel will remain with the combined company after the business combination[201] - The company may face regulatory restrictions that could limit its pool of potential acquisition targets[135] - The company may incur losses from costs associated with identifying and evaluating target businesses that do not result in a completed business combination[172]

FORM 10-Q or Commission File Number: 001-41102 4640 Admiralty Way, Suite 500 Marina Del Rey, California 90292 (Address of principal executive offices) (Zip Code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been sub ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Canna-Global Acquisition Corp FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 (Exact name of registrant as specified in its charter) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41102 Delaware 86-3692449 (State or other j ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41102 Canna-Global Acquisition Corp (Exact name of registrant as specified in its charter) Delaware 86-3692449 (State or other ...

(a) Market Information Our units, public shares and public warrants are each traded on Nasdaq under the symbols CNGLU, CNGL and CNGLW, respectively. Our units commenced public trading on November 30, 2021, and our public shares and public warrants commenced separate public trading on January 20, 2022. (b) Holders On March 31, 2023, there were two holders of record of our units, four holders of record of our shares of Class A common stock and one holder of record of our warrants. (c) Dividends We have not pa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41102 Canna-Global Acquisition Corp (Exact name of registrant as specified in its charter) Delaware 86-3692449 (State or ot ...