Toronto, ON — August 31, 2018 — /D.M.O. Newswire/ — Hiku Brands Company Ltd. (CSE:HIKU) (OTC:DJACF) has announced that shareholders have passed a resolution to approve the Corporation’s previously announced plan of arrangement with Canopy Growth Corporation (NYSE:CGC) (TSX:WEED).
“Under the terms of the Agreement, Hiku shareholders will receive 0.046 of a Canopy Growth common share (each whole share, a “Canopy Share”) in exchange for each common share of Hiku (each, a “Hiku Share”), representing the equivalent of C$1.91 per Hiku Share and a premium of 33% based on the 20-day volume weighted average prices of the Canopy Shares and the Hiku Shares as of July 9, 2018, and a premium of approximately 21% based on the closing prices of the Canopy Shares on the Toronto Stock Exchange (“TSX”) and the Hiku Shares on the Canadian Stock Exchange (“CSE”) on July 9, 2018.”
Here’s What You Need to Know
- Trading will be halted at noon on August 31, 2018 and the common shares will be delisted from the CSE at the market close on September 6, 2018.
- Alan Gertner, Chief Executive Officer of Hiku said: “This Transaction represents an incredible step in the Hiku journey that both realizes immediate benefits for our shareholders and at the same time provides an unparalleled opportunity to join forces with a preeminent global cannabis player. Ultimately, together we will continue to build one of the world’s most engaging and successful cannabis retail and brand business. Canopy is a truly special cannabis company that is well positioned to lead both in Canada and around the world.”
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