Canna-Global Acquisition Corp. Announces Initial Partial Liquidating Distribution

MARINA DEL REY, Calif.--(BUSINESS WIRE)-- Canna-Global Acquisition Corp. (the “Company”) (OTCPK: CNGL, CUSIP 13767K101 and OTCPK: CNGLU, CUSIP 13767K200) (the “Securities”) and Continental Stock Transfer & Trust Company (the “Trustee” and the “Transfer Agent”) have announced an initial partial liquidating distribution of approximately $6.14892631 per share (the “Partial Liquidation Amount”). The Company intends to implement this partial liquidating distribution program commencing August 17, 2026 and ending at 5:00 pm ET on September 4, 2026 (the “Effective Date”). The distribution will be payable in cash at a per-share price equal to the aggregate amount then on deposit in the trust account (the “Trust Account”) remaining from the Initial Public Offering after deducting the principal portion of the payments made for the shares redeemed on December 5, 2022 and December 18, 2023, divided by the number of publicly-issued Class A Shares (or Units) remaining outstanding as of July 31, 2026 which includes 724,000 Class A Shares invalidly issued in breach of the Company’s governing documents (“Excess Shares”), multiplied by the number of shares and/or units held as of the Effective Date. A future distribution (the “Final Distribution Amount”) will be made to current holders of the Securities once matters relating to the Excess Shares have been resolved and the trust funds attributable to the Excess Shares have been recouped. As disclosed in the press release dated July 1, 2024, the Trustee has guaranteed payment of the trust funds attributable to the Excess Shares irrespective of any outcome with the litigation.

The right of a holder of Class A Shares (or Units) to submit its Securities during the partial liquidating distribution program described above and thereby receive the Partial Liquidation Amount is referred to herein as such holder's "Partial Liquidation Rights."

IN ORDER TO EXERCISE YOUR PARTIAL LIQUIDATION RIGHTS AND RECEIVE THE PARTIAL LIQUIDATION AMOUNT, CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS TRANSFER AGENT, REQUIRES THAT YOU (1) SUBMIT A WRITTEN REQUEST TO THE TRANSFER AGENT BY 5:00 P.M. ON SEPTEMBER 4, 2026, THAT YOUR PUBLIC SHARES (OR UNITS) BE REDEEMED FOR CASH, INCLUDING THE LEGAL NAME, PHONE NUMBER, AND ADDRESS OF THE BENEFICIAL OWNER OF THE SHARES (OR UNITS) FOR WHICH PARTIAL LIQUIDATION IS REQUESTED, AND (2) DELIVER YOUR SHARES OF CLASS A COMMON STOCK (OR UNITS) TO THE TRANSFER AGENT ELECTRONICALLY USING THE DEPOSITORY TRUST COMPANY’S DWAC (DEPOSIT/WITHDRAWAL AT CUSTODIAN) SYSTEM. THE TRANSFER AGENT ALSO REQUIRES THAT YOU INSTRUCT THE ACCOUNT EXECUTIVE AT YOUR BANK OR BROKER TO WITHDRAW THE SHARES (OR UNITS) FROM YOUR ACCOUNT IN ORDER TO EXERCISE YOUR PARTIAL LIQUIDATION RIGHTS. IF YOU HOLD UNITS, YOU NEED NOT SEPARATE THE UNITS INTO THEIR COMPONENT PARTS (CLASS A SHARES AND WARRANTS) IN ORDER TO TENDER YOUR UNITS TO RECEIVE THE PARTIAL LIQUIDATION AMOUNT.

The contact information for the transfer agent is as follows:

Continental Stock Transfer & Trust Company
1 State Street Plaza, 30th Floor
New York, New York 10004
Attn: SPAC Redemptions
E-mail: [email protected]

There will be no redemption rights with respect to the Company’s warrants. If Units are submitted for partial liquidation, the warrant component of the Unit will be cancelled.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260817347205/en/

Media Contacts

ASC Advisors
Taylor Ingraham
[email protected]
203 992 1230

Source: Canna-Global Acquisition Corp.

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