SCOTTSDALE, Ariz., July 2, 2024
/CNW/ - On June 27, 2024, Bengal
Catalyst Fund, LP (the "Acquiror") converted 21,420,100
subordinate voting shares (the "SV Shares") of Grown Rogue
International Inc. ("Grown Rogue") into 21,420.1
multiple voting shares (the "MV Shares") of Grown Rogue (the
"SV Conversion"), representing, on an undiluted basis,
approximately 9.79% of the issued and outstanding SV Shares and
28.49% of the issued and outstanding MV Shares.
Prior to the SV Conversion, the Acquiror owned, or had control
or direction over, 22,332,100 SV Shares, representing, on an
undiluted basis, approximately 10.22% of the issued and outstanding
SV Shares and 10.22% of the voting rights attached to all of the
Grown Rogue's outstanding voting securities (based upon 218,616,805
SV Shares and nil MV Shares outstanding).
Following the SV Conversion, the Acquiror owns, or has control
or direction over, 912,000 SV Shares and 21,420.1 MV Shares,
representing, on an undiluted basis, approximately 0.63% of the
issued and outstanding SV Shares, 28.49% of the issued and
outstanding MV Shares, and 10.22% of the voting rights attached to
all of the Grown Rogue's outstanding voting securities (based upon
143,421,864 SV Shares and 75,194.941 MV Shares outstanding after
giving effect to SV Conversion). On an as-converted basis,
the Acquiror owns 22,332,100 SV Shares, being 13.55% of the issued
and outstanding SV Shares.
The Acquiror does not have any current plans or future
intentions which relate to or would result in any of the events,
transactions or circumstances enumerated in paragraphs (b) - (k) in
the early warning report filed with this press release (the
"Early Warning Report").
In accordance with applicable securities laws, the Acquiror may,
from time to time and at any time, acquire additional SV Shares, MV
Shares and/or other equity, debt or other securities or instruments
(collectively, "Securities") of Grown Rogue in the open
market or otherwise, and Acquiror reserves the right to dispose of
any or all of its Securities in the open market or otherwise at any
time and from time to time, and to engage in similar transactions
with respect to the Securities, the whole depending on market
conditions, the business and prospects of Grown Rogue and other
relevant factors.
The head office address of Bengal Catalyst Fund, LP is 6608 E
2nd St., Scottsdale,
Arizona, U.S.A. 85251.
This press release is issued pursuant to early
warning requirements of National Instrument 62-103 – The Early
Warning System and Related Take-Over Bid and Insider Reporting
Issues which also requires the Early Warning Report to be filed
in accordance with applicable Canadian securities laws. For further
information please refer to the Early Warning Report to be posted
on Grown Rogue's SEDAR+ profile at www.sedarplus.com or which may
be obtained by contacting the Acquiror at 1 623 252 3367.
SOURCE Bengal Catalyst Fund, LP