GlobeNewswire

Acreage Implements Previously Announced Plan of Arrangement with Canopy Growth

Share

NEW YORK, June 27, 2019 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.U) (OTC: ACRGF) (FSE: 0ZV) is pleased to announce the implementation of its previously announced arrangement under section 288 of the Business Corporations Act (British Columbia) with Canopy Growth Corporation (“Canopy Growth”) (TSX:WEED) (NYSE:CGC) (the “Arrangement”).

Pursuant to the Arrangement, Canopy Growth received an option (the “Canopy Growth Call Option”) to acquire all of the issued and outstanding shares in the capital of Acreage (each, an “Acreage Share”), with a requirement to do so, upon a change in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana (as defined in the relevant legislation) or to remove the regulation of such activities from the federal laws of the United States (the “Triggering Event”), subject to the satisfaction of certain conditions. Canopy Growth is permitted to waive the Triggering Event.

Holders of subordinate voting shares of Acreage and certain securities convertible or exchangeable into subordinate voting shares of Acreage as of the close of business on June 26, 2019, are entitled to receive approximately $2.63, being their pro rata portion of US$300,000,000 (the “Option Premium”) paid by Canopy Growth to such persons as consideration for granting the Canopy Growth Call Option. It is expected that the Option Premium will be distributed to such holders of record on or before July 3, 2019.

Acreage will continue to operate as a stand-alone entity and to conduct its business independently, subject to compliance with certain covenants and the subordinate voting shares of Acreage will remain listed on the Canadian Securities Exchange, the OTCQX and the Frankfurt Stock Exchange.

Upon the occurrence or waiver of the Triggering Event, Canopy Growth will exercise the Canopy Growth Call Option and, subject to the satisfaction or waiver of certain closing conditions, acquire (the “Acquisition”) each of the subordinate voting shares in exchange for the payment of 0.5818 of a common share of Canopy Growth per subordinate voting share (subject to adjustment). If the Acquisition is completed, Canopy Growth will acquire all of the shares of Acreage, Acreage will become a wholly-owned subsidiary of Canopy Growth and Canopy Growth will continue the operations of Canopy Growth and Acreage on a combined basis.

Acreage believes that the Arrangement will deliver significant benefits that will help accelerate its growth across the United States powered by the expertise of the world’s leading cannabis company. In turn, upon the Acquisition, Canopy Growth shareholders will benefit from a national turnkey platform in the United States.

About Acreage

Headquartered in New York City, Acreage is the largest vertically integrated, multi-state owner of cannabis licenses and assets in the U.S. with respect to the number of states with cannabis related licenses, according to publicly available information. Acreage owns licenses to operate or has management or consulting services agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of more than $17 billion in legal cannabis sales, according to Arcview Market Research. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience. Acreage’s national retail store brand, The Botanist, debuted in 2018.

Forward-Looking Statement

This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Acreage or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. These forward-looking statements include, but are not limited to, statements with respect to the anticipated date for distribution of the Option Premium, the ongoing operations of Acreage and continued listing of the subordinate voting shares of Acreage, the outcome of the Acquisition; the anticipated benefits of the Arrangement and the Acquisition to Acreage and its securityholders; and the impact of the Acquisition and anticipated growth of Acreage.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including assumptions as to the expected timing for payment of the Option Premium; the occurrence or waiver of the Triggering Event; the ability of Acreage and Canopy Growth to satisfy, in a timely manner, the conditions to closing following the occurrence or waiver of the Triggering Event; other expectations and assumptions concerning the Acquisition; and such risks contained in the management information circular of Acreage dated May 17, 2019 and in Acreage’s annual information form dated April 24, 2019 and filed with Canadian securities regulators available on Acreage’s profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive.

In respect of the forward-looking statements and information concerning the anticipated benefits and completion of the Acquisition, Acreage has provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time. Although Acreage believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and Acreage does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

There can be no assurance that the Acquisition, including the Triggering Event, will occur, or that it will occur on the terms and conditions contemplated in this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Investors are cautioned that, except as disclosed in the management information circular of Acreage dated May 17, 2019, any information released or received with respect to the Arrangement or the Acquisition may not be accurate or complete and should not be relied upon.

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

FRO - Invitation to Q3 2019 Results Conference Call and Webcast19.11.2019 13:16:00 CETPress release

Frontline Ltd.’s preliminary third quarter 2019 results will be released on Wednesday November 27 2019, and a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m. U.S. Eastern Time). The results presentation will be available for download from the Investor Relations section at www.frontline.bm ahead of the conference call. In order to attend the conference call you may do one of the following: a. Webcast Go to the Investor Relations section at www.frontline.bm and follow the “Webcast” link. b. Conference Call Participant dial-in telephone numbers: Norway +47 2156 3162 Norway toll free 800 10392 UK +44 (0) 203 009 5710 UK Toll Free 0 800 376 7425 USA +1 917 720 0178 USA Toll Free 866 869 2321 Conference ID 5598374 Participants will be asked for their full name & Conference ID. A Q&A session will be held after the teleconference/webcast. Information on how to submit questions will be given at the beginning of the session. The presentation material which will be used in th

Oasmia offentliggör prospekt i samband med företrädesemission om cirka 399 MSEK samt uppdaterad information som återfinns i prospektet19.11.2019 13:00:00 CETPressemelding

EJ FÖR PUBLICERING, DISTRIBUTION ELLER OFFENTLIGGÖRANDE, DIREKT ELLER INDIREKT, HELT ELLER DELVIS, INOM ELLER TILL USA, AUSTRALIEN, HONGKONG, JAPAN, KANADA, NYA ZEELAND, SCHWEIZ, SINGAPORE, SYDAFRIKA ELLER NÅGON ANNAN JURISDIKTION DÄR SÅDAN PUBLICERING, DISTRIBUTION ELLER OFFENTLIGGÖRANDE SKULLE VARA I STRID MED GÄLLANDE REGLER ELLER KRÄVA YTTERLIGARE REGISTRERING ELLER ANDRA ÅTGÄRDER ÄN VAD SOM FÖLJER AV SVENSK RÄTT. Styrelsen i Oasmia Pharmaceutical AB (“Oasmia” eller ”Bolaget”) meddelande den 11 november 2019 om genomförandet av en nyemission av aktier med företrädesrätt för Oasmias befintliga aktieägare om cirka 399 MSEK ("Företrädesemissionen"). Bolaget har med anledning av Företrädesemissionen upprättat ett prospekt som idag godkänts och registrerats av Finansinspektionen. Offentliggörande av prospekt För fullständig information om Företrädesemissionen hänvisas till det prospekt som upprättats av Bolaget samt idag godkänts och registrerats av Finansinspektionen per dagens datum.

Oasmia publishes prospectus in connection with the rights issue of approximately SEK 399 million and updated information included in the prospectus19.11.2019 13:00:00 CETPress release

Not for release, publication or distribution, directly or indirectly, in or into Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, Singapore, the United States or any other jurisdiction where such distribution of this press release would be subject to legal restrictions. This press release does not constitute an offer of any securities of Oasmia Pharmaceuticals AB (publ). See the section “IMPORTANT INFORMATION” below. The board of Oasmia Pharmaceutical AB (“Oasmia” or the “Company”) announced on 11 November 2019 to carry out a new issue of shares with preferential rights for Oasmia’s shareholders of approximately SEK 399 million (the “Rights Issue”). As a result of the Rights Issue, the Company has prepared a prospectus, which has been approved and registered by the Swedish Financial Supervisory Authority today. Publication of the prospectus For complete information on the Rights Issue, refer to the prospectus that has been prepared by Oasmia as well as appro

Medtronic Reports Second Quarter Financial Results19.11.2019 12:45:00 CETPress release

Revenue of $7.7 Billion Increased 3.0% Reported and 4.1% Organic GAAP Diluted EPS of $1.01; Non-GAAP Diluted EPS of $1.31 Cash Flow from Operations of $1.9 Billion Grew 61%; Free Cash Flow of $1.6 Billion Grew 66% Company Raises FY20 EPS Guidance DUBLIN, Nov. 19, 2019 (GLOBE NEWSWIRE) -- Medtronic plc (NYSE:MDT) today announced financial results for its second quarter of fiscal year 2020, which ended October 25, 2019. The company reported second quarter worldwide revenue of $7.706 billion, an increase of 3.0 percent as reported or 4.1 percent on an organic basis, which adjusts for a $97 million negative impact from foreign currency and a $16 million contribution from the company’s acquisition of Titan Spine, which is reported in the Spine division in the Restorative Therapies Group. As reported, second quarter GAAP net income and diluted earnings per share (EPS) were $1.364 billion and $1.01, respectively. As detailed in the financial schedules included through the link at the end of t

Avenir LNG collaborates with Golar Power on developing small-scale LNG distribution in Brazil19.11.2019 12:00:00 CETPress release

London, Nov. 19, 2019 (GLOBE NEWSWIRE) -- Avenir LNG Limited (“Avenir”) wishes to announce that it will collaborate with Golar Power Limited (“Golar Power”) in developing the small-scale LNG market in Brazil. Avenir’s second 7,500 cbm LNG Carrier will be used to deliver LNG to various ports across Brazil upon delivery. The vessel will also offer ship-to-ship bunkering capability as part of Avenir’s global multi-nodal bunkering solution; adding to the Colombian, Mediterranean and Malaysian nodes which the company currently offers. Commenting on the collaboration with Golar Power, Andrew Pickering, Chief Executive Officer of Avenir LNG Limited, said, “This is another step in our strategy where we are working closely with a shareholder in leveraging its FSRU platform to develop small-scale LNG distribution and bunkering in key developing markets.” Commenting on the collaboration with Avenir LNG, Eduardo Antonello, Chief Executive Officer of Golar Power Limited, said, “Accessing small-scal