NetworkNewsBreaks – Canopy Rivers Inc. (TSX: RIV
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Posted On: 02/17/2021 3:30:14 PM
NetworkNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Announces Shareholder Approval of Canopy Growth Plan of Arrangement
Canopy Rivers (TSX: RIV) (OTC: CNPOF) shareholders have voted to approve the company’s previously announced plan of arrangement regarding Canopy Growth Corporation. Shareholder voting resulted in 99.87% of votes cast by Rivers’ shareholders cast in favor of the arrangement; that number included an estimated 99.85% of votes cast by Rivers’ shareholders other than Canopy Growth. According to the previously announced arrangement, approval was required from at least two-thirds of the votes cast by the holders of subordinated voting shares as well as two-thirds of votes cast by Canopy Growth and a simple majority of votes cast by holders of SVS (“SVS”). The announcement also noted that Les Serres Stéphane Bertrand Inc. had exercised its right of first refusal to purchase from Rivers a proportionate interest of the common shares in Les Serres Vert Cannabis Inc. Based on that, Canopy Rivers, through RIV Capital Corporation, its wholly owned subsidiary, has entered into a definitive purchase agreement with Serres Bertrand. “We are thrilled by both the high voting turnout and the tremendous support we received for the Arrangement,” said Canopy Rivers president and CEO Narbe Alexandrian in the press release. “We believe that this deal provides substantial value to shareholders, which was highlighted by the overwhelming support we received today. We look forward to delivering on this vote of confidence as we execute on our new strategy focused on opportunities in the U.S. market.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Canopy Rivers (TSX: RIV) (OTC: CNPOF) shareholders have voted to approve the company’s previously announced plan of arrangement regarding Canopy Growth Corporation. Shareholder voting resulted in 99.87% of votes cast by Rivers’ shareholders cast in favor of the arrangement; that number included an estimated 99.85% of votes cast by Rivers’ shareholders other than Canopy Growth. According to the previously announced arrangement, approval was required from at least two-thirds of the votes cast by the holders of subordinated voting shares as well as two-thirds of votes cast by Canopy Growth and a simple majority of votes cast by holders of SVS (“SVS”). The announcement also noted that Les Serres Stéphane Bertrand Inc. had exercised its right of first refusal to purchase from Rivers a proportionate interest of the common shares in Les Serres Vert Cannabis Inc. Based on that, Canopy Rivers, through RIV Capital Corporation, its wholly owned subsidiary, has entered into a definitive purchase agreement with Serres Bertrand. “We are thrilled by both the high voting turnout and the tremendous support we received for the Arrangement,” said Canopy Rivers president and CEO Narbe Alexandrian in the press release. “We believe that this deal provides substantial value to shareholders, which was highlighted by the overwhelming support we received today. We look forward to delivering on this vote of confidence as we execute on our new strategy focused on opportunities in the U.S. market.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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