SMITHS FALLS and TORONTO,
ON, Jan. 27, 2017 /CNW/ -
Canopy Growth Corporation ("Canopy Growth") (TSX: CGC) and
Mettrum Health Corp. ("Mettrum") (TSX.V: MT) (together, the
"Companies") are pleased to announce the successful results
of the Special Meetings of Shareholders of Canopy Growth and
Mettrum, held in Smiths Falls,
Ontario and Toronto,
Ontario, respectively, to approve Canopy Growth's
acquisition of Mettrum by way of a plan of arrangement (the
"Arrangement"), as previously announced by the Companies on
December 1, 2016.
Now that the requisite shareholder approvals have been obtained,
a final order of the Ontario Superior Court of Justice approving
the Arrangement will be sought on January
30, 2017. Provided that the final order is obtained and the
satisfaction or waiver of all other conditions specified in the
definitive arrangement agreement dated November 30, 2016, as amended, it is expected
that the Arrangement will be completed on or about January 31, 2017.
Shareholders of Canopy Growth approved the ordinary resolution
approving the issuance, or reservation for issuance, as the case
may be, by Canopy Growth, of up to 40,000,000 common shares was
approved by: 94.18% of the votes cast by Canopy Growth shareholders
present in person or represented by proxy. A total of 19.80% of the
issued and outstanding common shares of Canopy Growth were voted at
the meeting.
The Arrangement was approved by: (i) 99.76% of the votes cast by
Mettrum shareholders present in person or represented by proxy, and
(ii) 99.69% of the votes cast by Mettrum shareholders present in
person or represented by proxy, excluding votes which may not be
included in determining minority approval pursuant to the rules of
Multilateral Instrument 61-101 – Protection of Minority
Shareholders in Special Transactions. A total of 55.37% of the
issued and outstanding common shares of Mettrum were voted at the
meeting.
"We are delighted that the shareholders of Canopy and Mettrum
have demonstrated such strong support for bringing our two
companies together," Bruce Linton,
Chairman & CEO, Canopy Growth. "Our focus remains on expanding
production capabilities in order to capture market share through a
variety of brands. Mettrum's strong growing platform and brand
furthers this strategy."
The Arrangement, if completed, will result in the creation of a
world-leading diversified cannabis company with six licensed
facilities and a licensed production footprint of approximately
665,000 sq. ft. with significant acreage for expansion.
Following completion of the Arrangement, Mettrum will cease trading
on the TSX Venture Exchange and will become a wholly-owned
subsidiary of Canopy Growth.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis company, offering diverse brands
and curated cannabis strain varieties in dried and oil extract
forms. Through its wholly‑owned subsidiaries, Canopy Growth
operates numerous state-of-the-art production facilities with over
half a million square feet of indoor and greenhouse production
capacity. Canopy Growth has established partnerships with
leading sector names in Canada and abroad. For more
information visit www.canopygrowth.com.
About Mettrum Health Corp.
Mettrum Health Corp. is a
Tier 1 Industry Issuer listed on TSX Venture Exchange. With three
licenses to produce and sell medical cannabis under the Access
to Cannabis for Medical Purposes Regulations, Mettrum Health
Corp. is a leading producer and vendor of medical cannabis. In
addition, through its wholly-owned subsidiary Mettrum Hempworks,
Mettrum also is a licensed producer and distribution of industrial
cannabis (hemp) products, including Mettrum's functional food line,
Mettrum Originals™, under the Industrial Hemp
Regulations (Canada)
issued pursuant to the Controlled Drugs and Substances
Act (Canada). For
more information visit www.mettrum.com.
Notice Regarding Forward Looking
Statements
This news release contains forward-looking
statements. Often, but not always, forward-looking statements can
be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "estimates", "intends",
"anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements include
statements with respect to all court and regulatory approvals and
the completion of the Arrangement. The forward-looking
statements included in this news release are made as of the date of
this news release and neither Canopy Growth Corporation nor Mettrum
undertakes any obligation to publicly update such forward-looking
statements to reflect new information, subsequent events or
otherwise unless required by applicable securities
legislation.
Neither the TSX Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Canopy Growth Corporation