Wording of AgreementI have been reading all of the comments concerning the ICC/ACB agreement and there are some concerns to me about the wording with this agreement. I also had HIKU shares that just became WEED shares this afternoon. The wording on that agreement was quite a bit easier to understand that I would get 0.046 of each Canopy share. This one doesn't say that necessarily:
WEED acquisition of HIKU: Under the terms of the Agreement, Hiku shareholders will receive 0.046 of a Canopy Growth common share (each whole share, a "Canopy Share") in exchange for each common share of Hiku (each, a "Hiku Share"), representing the equivalent of C$1.91 per Hiku Share and a premium of 33% based on the 20-day volume weighted average prices of the Canopy Shares and the Hiku Shares as of July 9, 2018, and a premium of approximately 21% based on the closing prices of the Canopy Shares on the Toronto Stock Exchange ("TSX") and the Hiku Shares on the Canadian Stock Exchange ("CSE") on July 9, 2018.
So I got 0.046 of the price of WEED as of earlier today - $68.62 WEED to $3.16 HIKU.
ACB acquisition of ICC:
Under the terms of the Transaction, each shareholder of ICC (ICC Shareholder) will receive $1.95 per ICC Share, payable in Aurora Shares valued at the volume-weighted average trading price of Aurora Shares on the TSX during the 20 trading day period ending the second to last trading day on the TSX immediately prior to the Effective Date (as defined in the Arrangement Agreement), being the date the Transaction is completed (the Aurora Share Price).
Pursuant to the terms of the Transaction, based on the volume-weighted average trading price of Aurora Shares on the TSX during the 20 trading day period ending September 7, 2018 an ICC Shareholder would receive 0.2448 Aurora Shares for each ICC Share held, resulting in Aurora issuing approximately 36.2 million Aurora Shares (fully diluted, treasury method) in connection with the Transaction, representing approximately 3.6% of outstanding Aurora Shares after giving effect to the Transaction (actual number of shares received and issued will be based on the volume-weighted average trading price of Aurora Shares on the TSX during the applicable 20 day period preceding the completion of the Transaction).
This talks about $1.95 as being the price, which was 0.2448 ACB shares based on the 20 trading day period ending Sept 7 as some people are posting.
I've sent an email to both investor relations and to the ownership to get more clarification for sure because I want to be 100% on this.