Continuation of talks
CanniMed Therapeutics Announces Continuation of Discussions with Aurora
2018-01-22 07:00 ET - News Release
Company Website: https://www.CanniMedTherapeutics.com
SASKATOON, Saskatchewan -- (Business Wire)
CanniMed Therapeutics Inc. (“CanniMed” or the “Company”) (TSX:CMED) announces that it is continuing to discuss terms of a possible transaction with Aurora Cannabis Inc. (“Aurora”). Therefore, CanniMed and Aurora have each agreed to extend their previously announced standstill to expire at 5:00 pm (EST) today, and until such time (i) neither CanniMed nor Aurora will solicit any proxies of CanniMed shareholders, (ii) Aurora will not, directly or indirectly, acquire control or direction over any additional shares of CanniMed, (iii) neither CanniMed nor Aurora will make any announcement or public statements in respect of a potential transaction nor will Aurora make or publicly announce any changes to its offer dated November 24, 2017 (as amended) unless mutually agreed; and (iv) neither CanniMed nor Aurora will solicit an alternative transaction or enter into any discussions or negotiations with respect to an alternative transaction during the standstill period.
The Special Shareholders’ Meeting of CanniMed (the “Meeting”) will still be held on Thursday, January 25, 2018 at 10:00 am (EST). However, the cut off time for the deposit of proxies will be at 10:00 am (EST) on Wednesday, January 24, 2018. The Meeting has been called to consider an ordinary resolution of the shareholders of CanniMed approving the issuance or reservation for issuance of such number of common shares of CanniMed as may be required pursuant to the plan of arrangement relating to the acquisition of Newstrike, all as more particular described in the management information circular of CanniMed dated December 8, 2017 available at www.sedar.com. The Meeting will proceed on January 25, 2018 unless adjourned or postponed further. The Meeting will be held at the offices of Borden Ladner Gervais LLP, Bay Adelaide Centre East Tower, 22 Adelaide Street West, Toronto, ON M5H 4E3, 34th floor.
There is no certainty that any such discussion will result in an agreement among the parties in respect of a transaction or in any change to the terms of Aurora’s offer dated November 24, 2017 (as amended).
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