Last night, iAnthus Capital Holdings, Inc. (CSE:IAN) (OTC:ITHUF) and MPX Bioceutical Corp. (CSE:MPX) (OTC:MPXEF) announced that an overwhelming majority of MPX securityholders voted in favor of the previously announced merger with iAnthus, whereby iAnthus will acquire 100% of the issued and outstanding common shares of MPX.
Here’s What You Need to Know
The deal required approval by:
- at least two-thirds of the votes cast by holders of MPX Shares present in person or by proxy at the meeting,
- at least two-thirds of the votes cast by MPX Securityholders present in person or represented by proxy at the Meeting, voting together as a single class, and
- a majority of the votes cast excluding the votes of MPX Shares held or controlled by “interested parties” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
At the meeting, the merger was approved by:
- 99.44% of the votes cast by all of the MPX Shareholders eligible to vote at the Meeting,
- 99.55% of the votes cast by all of the MPX Securityholders eligible to vote at the Meeting, voting together as a single class, and
- 99.38% of the votes cast by all of the MPX Shareholders eligible to vote at the Meeting excluding votes of MPX Shares held or controlled by interested parties.
Beyond that, the MPX Shareholders approved:
- the continuance of MPX from the Province of Ontario to the Province of British Columbia prior to the closing of the Arrangement; and
- the stock option plan of the newly formed MPX International Corporation that will hold all of the non-U.S. businesses of MPX. MPX International has applied to list its securities on the Canadian Securities Exchange.
It is expected that the final merger will be completed on or before January 30th, 2019. In the meantime, be sure to subscribe to updates here so you never miss an important update.
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