CANOPY RIVERS APPROVAL!!!!!!!!! TORONTO, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Canopy Rivers Corporation ("Canopy Rivers") and AIM2 Ventures Inc. (TSXV:AIMB.P) ("AIM2") are pleased to announce that the shareholders of the respective companies have overwhelmingly voted in favour of all matters in connection with the previously announced business combination involving Canopy Rivers and AIM2 that will result in a reverse take-over of AIM2 by Canopy Rivers (the "Transaction") and will constitute AIM2's "Qualifying Transaction" (as such term is defined in Policy 2.4 of the TSX Venture Exchange (the "TSXV") Corporate Finance Manual).
The AIM2 shareholders approved all matters contemplated at the AIM2 meeting including increasing the size of the AIM2 board, the election of all proposed board members, the consolidation of AIM2's existing common shares on a 26.565 for 1 basis (the "Consolidation"), the implementation of a dual class voting structure, including the creation of a new class of subordinated voting shares and a new class of multiple voting shares (the "Dual Class Voting Structure"), the name change from AIM2 to "Canopy Rivers Inc." (the "Name Change") and the adoption of a new stock option plan.
The Consolidation, Name Change and implementation of the Dual Class Voting Structure are expected to be implemented immediately prior to closing of the Transaction. The Transaction is subject to final approval of the TSXV and is expected to close on or about September 17, 2018.
For more information on all matters voted on at the Canopy Rivers shareholders' meeting or the AIM2 shareholders' meeting, please refer to the joint management information circular of Canopy Rivers and AIM2 dated August 8, 2018 (the "Circular"), which has been filed under AIM2's profile on SEDAR at www.sedar.com.