Canopy Growth and Acreage Implement Previously Announced Plan of Arrangement

SMITHS FALLS, ON and NEW YORK, June 27, 2019 /PRNewswire/ – Acreage Holdings, Inc. (“Acreage”) (ACRG-U.CN) (ACRGF) (FSE:0ZV) and Canopy Growth Corporation (“Canopy Growth”) (WEED.TO) (CGC) (together, the “Companies”) are pleased to announce the implementation of Acreage’s previously announced arrangement under section 288 of the Business Corporations Act (British Columbia) with Canopy Growth (the “Arrangement”). Pursuant to the Arrangement, the Acreage articles have been amended to provide Canopy Growth with the option (the “Canopy Growth Call Option”) to acquire all of the issued and outstanding shares in the capital of Acreage (each, an “Acreage Share”), with a requirement to do so, upon a change in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana (as defined in the relevant legislation) or to remove the regulation of such activities from the federal laws of the United States (the “Triggering Event”), subject to the satisfaction of the conditions set out in the arrangement agreement entered into between Acreage and Canopy Growth on April 18, 2019, as amended on May 15, 2019 (the “Arrangement Agreement”).

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