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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Goodness Growth Holdings Inc (QX) | USOTC:GDNSF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.03 | -4.41% | 0.65 | 0.64 | 0.67 | 0.6793 | 0.61 | 0.655 | 104,989 | 21:00:01 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of Incorporation)
(Commission File Number) | (IRS Employer Identification No.) | |
|
||
(Address of principal executive offices) | (Zip Code) |
(
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
N/A | N/A | N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Item 7.01. | Regulation FD Disclosure. |
On July 31, 2023, Dr. Kyle Kingsley, Goodness Growth Holdings, Inc.’s (the “Company”) Executive Chairman voluntarily converted all of his 65,411 Super Voting Shares into 6,541,100 Subordinate Voting Shares of the Company’s capital stock. The Company issued a press release announcing the conversion, a copy of which is attached hereto as Exhibit 99.1.
The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished, but shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any filing with the U.S. Securities and Exchange Commission except as shall be expressly set forth by specific reference in such filing.
Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits.
Exhibit No. | Description | |
99.1* | Press Release dated August 3, 2023 | |
104 | Cover Page Interactive Data File (embedded within Inline XBRL document) | |
*Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GOODNESS GROWTH HOLDINGS, INC. (Registrant) | ||
By: | /s/ J. Michael Schroeder | |
J. Michael Schroeder | ||
General Counsel and Corporate Secretary |
Date: August 4, 2023
Exhibit 99.1
Goodness Growth Holdings Announces Voluntary Conversion
of Super Voting Shares by its Executive Chairman
MINNEAPOLIS – August 3, 2023 – Goodness Growth Holdings, Inc. ("Goodness Growth" or the "Company") (CSE: GDNS; OTCQX: GDNSF), a cannabis company committed to providing safe access, quality products and great value to its customers, today announced that its Executive Chairman, Dr. Kyle Kingsley, has voluntarily converted of all of his 65,411 Super Voting Shares and, in connection therewith, the Company has issued to Dr. Kingsley 6,541,100 Subordinate Voting Shares of Goodness Growth’s capital stock. Dr. Kingsley originally acquired the Super Voting Shares in connection with the business combination of the Company completed on March 18, 2019. The voluntary conversion is related to a recent financing undertaken by the Company and Dr. Kingsley's financial interest in Goodness Growth will not change following the conversion.
Prior to giving effect to the completion of the voluntary conversion, Dr. Kingsley owns or controls, directly or indirectly, 0 Subordinate Voting Shares (calculated on a partially diluted basis, assuming in the calculation of Dr. Kingsley's holdings and the calculation of outstanding Subordinate Voting Shares, the conversion of all Super Voting Shares, but no other securities, being approximately 0% of the outstanding Subordinate Voting Shares) and 65,411 Super Voting Shares of the Company (being 100% of the outstanding Super Voting Shares of the Company). After giving effect to the completion of the voluntary conversion, Dr. Kingsley will own, directly or indirectly, and exercise control over 6,541,100 Subordinate Voting Shares, representing approximately 6.042% of the outstanding Subordinate Voting Shares and will no longer own, directly or indirectly, or exercise control over any Super Voting Shares.
The Super Voting Shares were converted pursuant to their terms for no further consideration. The Subordinate Voting Shares owned by Dr. Kingsley are held for investment purposes only. Depending upon the circumstances, Dr. Kingsley may, from time to time, acquire additional securities or related financial instruments of Goodness Growth or dispose of all or a portion of the securities or related financial instruments of Goodness Growth previously acquired.
A copy of the early warning report will be filed by Dr. Kingsley under the Company's profile on SEDAR+ at www.sedarplus.ca.
About Goodness Growth Holdings, Inc.
Goodness Growth Holdings, Inc. is a cannabis company whose mission is to provide safe access, quality products and value to its customers while supporting its local communities through active participation and restorative justice programs. The Company is evolving with the industry and is in the midst of a transformation to being significantly more customer-centric across its operations, which include cultivation, manufacturing, wholesale and retail business lines. Today, the Company is licensed to grow, process, and/or distribute cannabis in four markets and operates 14 dispensaries in three states. For more information about Goodness Growth Holdings, please visit www.goodnessgrowth.com.
Forward-Looking Statements
This press release contains “forward-looking information” within the meaning of applicable United States and Canadian securities legislation. To the extent any forward-looking information in this press release constitutes “financial outlooks” within the meaning of applicable United States or Canadian securities laws, such information is being provided as preliminary financial results and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks. Forward-looking information contained in this press release may be identified by the use of words such as “should,” “believe,” “could,” “looking forward,” “may,” “continue,” “expect,” “will,” “subject to,” and variations of such words and phrases, or any verbs in the future tense. These statements should not be read as guarantees of future performance or results. Forward-looking information includes both known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Goodness Growth or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements or information contained in this press release. Forward-looking information is based upon a number of estimates and assumptions of Goodness Growth’s management team, believed but not certain to be reasonable, in light of management’s experience and perception of trends, current conditions, and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.
Although Goodness Growth believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Goodness Growth can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, risks related to the timing of adult-use legislation in markets where the Company currently operates; current and future market conditions, including the market price of the subordinate voting shares Goodness Growth; risks related to epidemics and pandemics, federal, state, local, and foreign government laws, rules, and regulations, including federal and state laws and regulations in the United States relating to cannabis operations in the United States and any changes to such laws or regulations; operational, regulatory and other risks; execution of business strategy; management of growth; difficulties inherent in forecasting future events; conflicts of interest; risks inherent in an agricultural business; risks inherent in a manufacturing business; liquidity risks and other risk factors set out in Goodness Growth's Annual Report for the year ended December 31, 2022, which are available, if applicable, on EDGAR with the U.S. Securities and Exchange Commission and filed with the Canadian securities regulators and available under Goodness Growth’s company profile on SEDAR+ at www.sedarplus.ca.
The statements in this press release are made as of the date of this release. Except as required by law, Goodness Growth undertakes no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements.
Contact Information
Investor Inquiries:
Sam Gibbons
Chief of Staff, VP Investor Relations
samgibbons@goodnessgrowth.com
(612) 314-8995
Media Inquiries:
Amanda Hutcheson
Corporate Communications
amandahutcheson@goodnessgrowth.com
(919) 815-1476
Cover |
Jul. 31, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jul. 31, 2023 |
Entity File Number | 000-56225 |
Entity Registrant Name | GOODNESS GROWTH HOLDINGS, INC. |
Entity Central Index Key | 0001771706 |
Entity Tax Identification Number | 82-3835655 |
Entity Incorporation, State or Country Code | A1 |
Entity Address, Address Line One | 207 South 9th Street |
Entity Address, City or Town | Minneapolis |
Entity Address, State or Province | MN |
Entity Address, Postal Zip Code | 55402 |
City Area Code | 612 |
Local Phone Number | 999-1606 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
1 Year Goodness Growth (QX) Chart |
1 Month Goodness Growth (QX) Chart |
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