TORONTO, Oct. 21, 2020 /CNW/ - Meta Growth Corp.
(TSXV: META) ("Meta Growth", "META" or the "Company") is pleased to
announce that in connection with the previously announced proposed
acquisition pursuant to which High Tide Inc. ("High Tide") will
acquire all of the issued and outstanding common shares of META
("META Shares") by way of a plan of arrangement under the
Business Corporations Act (Alberta) (the "Arrangement"), it has
received strong preliminary support from META shareholders for the
Arrangement, including, as previously announced, voting support
agreements entered into by certain directors, officers and
significant shareholders that collectively hold 14.1% of the
outstanding META Shares. In addition, META is pleased to announce
that Michael Cosic and Christian Sinclair will act as META's nominees
to the board of directors of High Tide (the "High Tide Board") upon
closing of the Arrangement, subject to receipt of all necessary
regulatory approvals.
As an update to the disclosure provided in the management
information circular (the "Information Circular") for the special
meeting of holders of META Shares to be held on October 27, 2020 (the "Meeting"), Michael Cosic replaces Chris Brawn as one of META's board nominees. Mr.
Brawn has decided not to proceed as one of META's board nominees
for personal reasons but is expected to continue as an advisor to
the High Tide Board upon closing of the Arrangement. As META's
current Chief Financial Officer, Mr. Cosic's appointment is
expected to provide continuity to the combined company through his
ability to assist in post-closing transition and integration
matters.
It is expected that, subject to receipt of all regulatory,
court, shareholder and other approvals, the Arrangement will be
completed in the fourth quarter of 2020.
Voting and Participation
Amid ongoing concerns about the Coronavirus (COVID-19) outbreak,
META remains mindful of the well-being of its shareholders and
their families, its industry partners and other stakeholders as
well as the communities in which META operates. Accordingly, META
will hold the Meeting virtually via live audio webcast, available
online using the LUMI meeting platform at
https://web.lumiagm.com/232399830, on Tuesday, October 27, 2020 at 11:00 a.m.
(EST). Holders of META Shares ("META Shareholders") will not be
able to attend the Meeting in person. A summary of the information
META Shareholders will need to attend the Meeting online is
provided in the Information Circular.
Your vote is important regardless of the number of META Shares
you own. All META Shareholders are encouraged to vote their proxies
before 11:00 a.m. (EST) on
October 23, 2020.
For META Shareholders with Questions or Requiring Assistance
Voting
If you have any questions regarding the submission of your
proxy, please contact Kingsdale Advisors, the strategic advisor and
the proxy solicitation agent for META, by telephone at
1-800-749-9052 toll-free in North
America (+1-416-867-2272 collect) or by e-mail at
contactus@kingsdaleadvisors.com.
About Meta Growth
Meta Growth is a leader in secure, safe and responsible access
to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis Co.™,
Meta Cannabis Supply Co.™ and NewLeaf Cannabis™ recreational
cannabis retail stores, Meta Growth enables the public to gain
knowledgeable access to Canada's
network of authorized Licensed Producers of cannabis. Meta Growth
is listed on the TSX Venture Exchange under the symbol (TSXV:
META).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statements
Certain information in this news release constitutes
forward-looking statements under applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as "may", "should", "anticipate", "expect", "potential",
"believe", "intend" or the negative of these terms and similar
expressions. Forward-looking statements in this news release
include, but are not limited to, statements with respect to META's
board nominees to the High Tide Board and the appointment of a High
Tide board advisor, the anticipated timing for the Meeting and
closing of the Arrangement, and the satisfaction of closing
conditions for the Arrangement including, without limitation: (i)
required META Shareholder approval; (ii) necessary court approval
in connection with the Arrangement, (iii) High Tide obtaining the
necessary approvals from the Canadian Securities Exchange for the
delisting of securities, and the necessary approvals from the TSX
Venture Exchange for the listing of securities in connection with
the Arrangement; (iv) the Company obtaining the necessary approvals
from the TSX Venture Exchange for the delisting of the META Shares;
and (v) other closing conditions, including, without limitation,
obtaining certain consents and the operation and performance of the
High Tide and the Company businesses in the ordinary course until
closing of the Arrangement. In particular, there can be no
assurance that the Arrangement will be completed.
Forward-looking statements are based on current expectations,
estimates, projections, and assumptions of the Company and High
Tide described herein including, without limitation, expected
growth, results of operations, performance and industry trends.
While the Company considers these assumptions to be reasonable,
based on information currently available, they may prove to be
incorrect. Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements also
necessarily involve known and unknown risks, including, without
limitation, risks associated with the delay or failure to receive
regulatory approvals with respect to the Arrangement or the
Arrangement not proceeding. Readers are cautioned that the
foregoing list is not exhaustive. Readers are further cautioned not
to place undue reliance on forward-looking statements as there can
be no assurance that the plans, intentions or expectations upon
which they are placed will occur. Such information, although
considered reasonable by management at the time of preparation, may
prove to be incorrect and actual results may differ materially from
those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement and reflect the
Company's expectations as of the date hereof, and thus are subject
to change thereafter. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. Factors that could cause anticipated
opportunities and actual results to differ materially include, but
are not limited to, matters referred to above and elsewhere in the
Company's and High Tide's public filings.
SOURCE Meta Growth Corp.