The Supreme Cannabis Company, Inc is pleased to announce that, at its special meeting of shareholders of Supreme, Supreme Shareholders approved the plan of arrangement with Canopy Growth Corporation pursuant to which, among other things, Canopy will acquire all of the issued and outstanding common shares of Supreme for consideration consisting of 0.01165872 of a Canopy common share and $0.0001 in cash in exchange for each Supreme Share held, which was previously announced on April 8, 2021.
The Arrangement required approval by at least two-thirds (662/3%) of the votes cast by Supreme Shareholders on the resolution approving the Arrangement, present virtually or represented by proxy, and entitled to vote at the Supreme Meeting.
Of the votes cast at the Supreme Meeting with respect to the Arrangement, an aggregate of 203,207,997 Supreme Shares were voted in favor of the Arrangement, representing approximately 81.05% of the votes cast.
Supreme’s full report of voting results will be filed on SEDAR (www.sedar.com) under Supreme’s issuer profile.
Supreme intends to seek a final order of the Ontario Superior Court of Justice (Commercial List) to approve the Arrangement at a hearing expected to be held on June 15, 2021. Assuming timely receipt of all necessary court, third-party approvals, and the satisfaction of all other conditions, closing of the Arrangement is expected to occur on or about June 17, 2021.
Further information about the Arrangement is available in the management information circular (the “Information Circular”) dated May 11, 2021, and related proxy materials, which are available on SEDAR under Supreme’s issuer profile and on Supreme’s website at https://www.supreme.ca/canopy-growth-acquisition.