DENVER--(BUSINESS WIRE)--Mydecine Innovations Group Inc. (NEO:MYCO) (OTC:MYCOF) (“Mydecine” or the “Company”) is pleased to announce the previously announced spin-out transaction, to be implemented through a statutory plan of arrangement (the “Arrangement”) between Mydecine and ALT House Cannabis Inc. (“Spinco”) has received the requisite shareholder approval at Mydecine’s annual general and special meeting of shareholders held September 20, 2021 (the “Meeting”). Mydecine shareholders have voted 99.939% in favour of approving the Arrangement at the Meeting, and the Company received final approval of the Supreme Court of British Columbia on September 24, 2021.
Completion of the Arrangement and the spin-out transaction remains subject to certain conditions, including final acceptance by the Aequitas Neo Exchange. If the approval of the Aequitas Neo Exchange is received and all other conditions precedent to the Arrangement are satisfied or waived, Mydecine expects to complete the Arrangement on or about October 1, 2021.
At the Meeting, six of the seven director nominees listed in Mydecine's management information circular dated August 23, 2021 (the “Circular”, available on the Company’s website at https://www.mydecine.com/ and on SEDAR at www.sedar.com) were elected as directors, with Andre Peschong no longer acting as a director of the Company. Directors have been elected to serve until the close of the next annual meeting of shareholders.
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