as per the news release this week
https://www.newsfilecorp.com/release/96455/PlantCo-Announces-Results-of-Annual-General-and-Special-Meeting
Toronto, Ontario – September 14, 2021 – Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCQB: VGANF) (“Plant&Co” or the “Company”), a modern health and wellness company curating delicious plant-based foods, is pleased to report the results from its 2021 Annual General and Special Meeting (the “Meeting”) of shareholders held on September 2, 2021 (the “Meeting”).
A total of 35,302,869 common shares were voted at the Meeting, representing 33.8% of the issued and outstanding common shares of the Company. All resolutions presented to the shareholders were approved, and are fully described in the management information circular dated July 22, 2021, which can be found on SEDAR (www.sedar.com) and on the Company's website.
Shareholders voted 95% in favour of the plan of arrangement, which involves the distribution of common shares of 1309185 BC Ltd. to the shareholders of the Company in the form of a dividend distribution. The dividend distribution is at a pre-determined ratio of 1 common share of 1309185 BC Ltd. for each 9 shares of Plant&Co held.
“This is an important step forward for Plant&Co Brands. With the sale of the cannabis-focused portion of our technology, we are now solely focused on expanding our menu of delicious plant-based foods for customers across North America,” said Shawn Moniz, CEO of Plant&Co. “The approval of the plan of arrangement unlocks the shareholder value that was tied up in our legacy business assets. Shareholders of record benefit two ways: first, Plant&Co receives $1,000,000 dollars worth in shares for the sale of the assets, second, they will also receive shares in the new company and benefit by owning part of a new and exciting company focused on the technology sector. Furthermore, the support at the special meeting provides a mandate for our new board members to execute on expansion plans into 2022 and take Plant&Co to the next level. This is an exciting time for our team and our shareholders.”