Acquisition of Shares by HoldCo Ltd.

Hill Street Beverage Company Inc. (TSXV: BEER) ("Hill Street" or the "Company"): This press release is being disseminated by HoldCo (St. Catharines) Ltd. (the "Acquiror") as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues, in connection with its acquisition of securities of Hill Street.

Pursuant to a right of conversion under previously issued convertible debentures of the Company in the principal amount of $1,000,000 ("Convertible Debenture"), issued on May 1, 2020, as described in the press release of the Company dated May 4, 2020, the Acquiror acquired 20,000,000 common shares in the capital of the Company at a deemed purchase price of $0.05 per Common Share.

Prior to the acquisition, the Acquiror owned or controlled 21,797,855 Common Shares representing 11.80% of the 184,718,695 issued and outstanding Common Shares. After completion of the acquisition, the Acquiror owned or controlled 41,797,855 Common Shares, representing 20.42% of the 204,718,695 issued and outstanding Common Shares. The Acquiror is relying on the exemption set forth in Section 4.2 of National Instrument 62-104 - Take Over Bids and Issuer Bids, of the formal bid rules, on the basis that this transaction is being made pursuant to a private agreement between the Company and the Acquiror.

The Acquiror acquired the Common Shares for investment purposes. The Acquiror intends to review its investment in Company on a continuing basis and may, from time to time and at any time, acquire or cause to be acquired additional equity or debt securities or other instruments of Company, or dispose or cause to be disposed such equity or debt securities or instruments, through open market transactions, private placements by Company and other privately negotiated transactions, or otherwise, in each case in accordance with applicable securities laws.

An early warning report will be filed by the Acquiror under applicable securities laws and will be available on Company's SEDAR profile at www.sedar.com . A copy of the early warning report may also be obtained from James Leech, Corporate Secretary, jleech@torkinmanes.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for dissemination in the United States of America.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84890

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Gavel resting on cannabis leaves.

Cannabis Crossroads: Record US Demand Meets Federal Gridlock

The US cannabis industry is at a turning point. State-level legalization and retail growth continue to accelerate, but federal policy remains stalled, leaving businesses navigating both opportunity and uncertainty. Record consumer demand is driving sales, yet outdated regulations, restrictive... Keep Reading...
Cannabis leaf.

10 Biggest Cannabis Stocks in the US and Canada in 2025

After initial optimism for rescheduling in the US, the cannabis market has faced challenges in 2025. Despite signs of support from US President Donald Trump and members of his administration, regulatory uncertainty persists in the US. Companies are shifting focus to match changes in consumer... Keep Reading...
Field of cannabis plants under bright sunlight.

Cannabis Market Update: H1 2025 in Review

The first half of 2025 played out differently than many cannabis market participants expected. Heading into the year, there was optimism that rescheduling in the US would reduce or eliminate challenges, but the industry continued to grapple with persistent federal regulatory uncertainty,... Keep Reading...
Closeup of lush green cannabis leaves.

Thailand Reverses Course on Cannabis, Moves to Recriminalize Amid Political Fallout

Thailand’s groundbreaking experiment with cannabis decriminalization is rapidly unraveling, with the government formally moving to reclassify the plant as a narcotic and ban recreational sales.The decision has sent shockwaves through an industry once projected to be worth over US$1 billion.The... Keep Reading...
Cannabis leaf over map of Australia.

A State-by-State Guide to Cannabis in Australia

Australia federally legalised medicinal cannabis in 2016, and Australia's cannabis market has seen major growth since then.Medical cannabis approvals were up by 120 percent in the first half of 2023 compared to the same period in 2022. Statista forecasts that Australian cannabis revenue will... Keep Reading...
Cannabis leaf on road marked with "2025," with sunlight in the background.

New Cannabis Consumption Trends, Regulatory Shifts Seen Driving Market in 2025

Understanding trends in the cannabis industry is paramount for investors eyeing a market with steady growth potential, but the landscape is complex as products and regulations continue to evolve. Consumption habits are changing as edibles, vaping and THC beverages gain traction, especially among... Keep Reading...

Latest Press Releases

Related News