Acreage Shareholders Approve Amended Arrangement With CGC NEW YORK, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0ZV) today announced that, at a special meeting of Acreage shareholders (the “Shareholders”) held on September 16, 2020 (the “Special Meeting”), the Shareholders voted in favor of a special resolution (the “Arrangement Resolution”) authorizing and approving (i) the amended arrangement (the “Amended Arrangement”) under section 288 of the Business Corporations Act (British Columbia) between Acreage and Canopy Growth Corporation (“Canopy Growth”), (ii) the amending agreement (the “Amending Agreement”) which, among other things, provides for certain amendments to the arrangement agreement between Acreage and Canopy Growth dated April 18, 2019, as amended on May 15, 2019 (the “Arrangement Agreement”), (iii) the amended and restated plan of arrangement Acreage, and (iv) the second amended and restated omnibus equity incentive plan (the “Amended and Restated Omnibus Equity Incentive Plan”).
Shareholders carrying an aggregate of 541,135,913 votes, representing approximately 89.63% of votes entitled to be cast at the Special Meeting, were represented in person or by proxy at the Special Meeting, with 99.84% such votes being cast in favor of the Arrangement Resolution, including 97.33% of the votes cast in favor pursuant to the minority approval requirement pursuant to MI 61-101 (as defined below) and 97.33% of the votes cast in favor pursuant to the minority approval requirement pursuant to Rule 56-501 and NI 41-101 (as such terms are defined below).
“I am very pleased with the continued overwhelming support from our Shareholders,” said William Van Faasen, Interim Chief Executive Officer of Acreage. “The Amended Arrangement between Acreage and Canopy Growth represents a significant win for our Shareholders and reaffirms our commitment to a vibrant future. I would like to thank all of our Shareholders for their continued support.”
https://www.globenewswire.com/news-release/2020/09/16/2094783/0/en/Acreage-Shareholders-Approve-Amended-Arrangement-Involving-Canopy-Growth.html