EDMONTON, Alberta, June 15, 2018 (GLOBE NEWSWIRE) -- Alcanna Inc. (“Alcanna” or the "Company") (TSX:CLIQ) announced today a cash dividend of $0.09 per common share (“Common Share”) of the Company for the second quarter of 2018.  The dividend will be paid on July 13, 2018, to holders of record of the Common Shares on June 29, 2018.  This dividend is an "eligible dividend" for Canadian income tax purposes.

The Company has a Dividend Reinvestment Plan (the “DRIP”) which allows eligible shareholders of the Company to direct that their cash dividends be reinvested in additional Common Shares. Common Shares issued pursuant to the DRIP are issued from treasury at a 3% discount from the market price. Shareholders who wish to participate in the DRIP should contact their broker, financial institution, or other nominee through which their Common Shares are held to provide appropriate enrolment instructions. A complete copy of the DRIP is available by following the “Dividend Reinvestment Plan” link on the Investors Relations section of the Company’s website at www.alcanna.com. Shareholders should carefully read the complete text of the DRIP prior to making any decisions regarding their participation in the DRIP. 

ABOUT ALCANNA INC.

The Company operates 228 retail liquor stores. The Company’s common shares and convertible subordinated debentures trade on the Toronto Stock Exchange under the symbols “CLIQ” and “CLIQ.DB”, respectively.

Additional information about Alcanna Inc. is available at www.sedar.com and the Company’s website at www.alcanna.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will", "should" and similar words suggesting future events or future performance. All statements and information other than statements of historical fact contained in this news release are forward-looking statements. In particular, this news release contains forward-looking statements pertaining to the declaration of dividends by the Company, the payment of the dividend and its tax treatment. 

With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, among other things: the success of the Company's operations; the present and future economic and business conditions in Alberta and the other markets in which the Company operates; the ability of management to execute the Company's business plan, including its cannabis and business transformation strategies; and that the Company's future results of operations will be consistent with past performance and management's expectations in relation thereto.

Although the Company believes that the expectations reflected in the forward-looking statements, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations and assumptions will prove to be correct. Readers should not place undue reliance on forward-looking statements included in this news release. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that may cause actual performance and financial results to differ materially from any estimates, forecasts or projections. These risks and uncertainties include, among other things: the risk that the Company will be unable to execute its business plan; the availability of capital on acceptable terms; risks inherent in the liquor and cannabis retail industries, including changes in laws or regulations; general economic and political conditions in Canada (including Alberta), the U.S. and globally; unanticipated operating events; changes in tax laws; and the other factors described in the Company’s public filings (including the Annual Information Form) available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news release are made as of the date hereof. Except as expressly required by applicable securities legislation, Alcanna does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

For further information

David Gordey
Chief Financial Officer
Alcanna Inc.
(780) 497-3262

www.alcanna.com