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Cannimed Says ISS Recommends Shareholders Vote For Newstrike

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Alert sent 2018-01-11 03:19:27 PM ET

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Leading Independent Proxy Advisor ISS Recommends CanniMed Shareholders Vote "FOR" the Newstrike Acquisition

2018-01-11 03:19:00 PM ET (BusinessWire)


CanniMed Therapeutics Inc. (TSX: CMED) ("CanniMed" or the "Company") 
      today announced that Institutional Shareholder Services Inc. ("ISS"), 
      a leading independent proxy voting advisory firm, has recommended that 
      CanniMed shareholders vote "FOR" the acquisition of Newstrike Resources.


In reaching its recommendation that CanniMed shareholders vote "FOR" the 
      acquisition of Newstrike Resources, ISS stated:


"[CanniMed Shareholders should] vote FOR the proposed acquisition of 
      Newstrike, which will allow the company to access the recreational 
      cannabis market while also significantly expanding its production 
      capacity and diversifying its geographic footprint. The transaction is 
      expected to be accretive on a 2019 estimated EBITDA-per-share basis and 
      may have a positive branding impact."


ISS also recognized that with Aurora's hostile bid, the offer has "a 
      $24 offer cap that has effectively halved the exchange ratio and 
      CanniMed's expected ownership stake in the combined entity... turning the 
      transaction into a dilutive one for CanniMed shareholders."


Welcoming ISS' favourable recommendation, Brent Zettl President and CEO, 
      CanniMed, stated: "We are pleased that ISS has recommended shareholders 
      vote in favour of the Newstrike acquisition. We thank our shareholders 
      for their ongoing support and unanimously recommend they follow the 
      recommendations of ISS and the Board, by voting FOR the acquisition of 
      Newstrike and saying NO to Aurora by not tendering and not voting on the 
      blue proxy."


Shareholders are reminded every vote counts regardless of how many 
      shares they own and to vote their green proxies by January 19th, 
      2018 at 10:00 a.m. (Toronto time)


If you have any questions, please contact Kingsdale Advisors at 
      1-888-518-1554 toll-free in North America, or 416-867-2272 outside North 
      America or by email at [e-mail].


About CanniMed Therapeutics Inc.


CanniMed is a Canadian-based, international plant biopharmaceutical 
      company and a leader in the Canadian medical cannabis industry, with 17 
      years of pharmaceutical cannabis cultivation experience, 
      state-of-the-art, GMP-compliant production process and world class 
      research and development platforms with a wide range of 
      pharmaceutical-grade cannabis products. In addition, the Company has an 
      active plant biotechnology research and product development program 
      focused on the production of plant-based materials for pharmaceutical, 
      agricultural and environmental applications.


CanniMed, through its subsidiaries, was the first producer to be 
      licensed under the Marihuana for Medical Purposes Regulations, 
      the predecessor to the current Access to Cannabis for Medical 
      Purposes Regulations. It was the sole supplier to Health Canada 
      under the former medical cannabis system for 13 years, and has been 
      producing safe and consistent medical cannabis for thousands of Canadian 
      patients, with no incident of product diversion or recalls.


For more information, please visit our websites: https://nam03.safelinks.protection.outlook.com/?url=www.cannimed.ca&data=02%7C01%7C%7C195cb6d6902c4abdcf3208d55930a223%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C636512987766757281&sdata=YYiC5h%2FIy4ctX2ANkudUZjJN2yr0F67o2PSBQH%2Bk8As%3D&reserved=0 
      (patients) and https://nam03.safelinks.protection.outlook.com/?url=www.cannimedtherapeutics.com&data=02%7C01%7C%7C195cb6d6902c4abdcf3208d55930a223%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C636512987766757281&sdata=Idstr2jOJFfyuqtQqJJ4hRW9g8T%2FLFoDella28AxMpc%3D&reserved=0 
      (investors).


About Institutional Shareholder Services


Institutional Shareholder Services Inc. (ISS) is the world's leading 
      provider of corporate governance and responsible investment (RI) 
      solutions for asset owners, asset managers, hedge funds, and asset 
      service providers. ISS' solutions include: objective governance research 
      and recommendations; RI data, analytics, and research; end-to-end proxy 
      voting and distribution solutions; turnkey securities class-action 
      claims management; and reliable global governance data and modeling 
      tools. Institutional clients turn to ISS to apply their corporate 
      governance views, identify environmental, social and governance risk, 
      and manage their complete proxy voting needs on a global basis. ISS 
      analysts have unique expertise and insight on the governance and RI 
      landscape, local market voting practices and regulatory requirements, 
      along with expertise in varied fields such as law, M&A, compensation, 
      and analytics.