TORONTO and SMITHS FALLS, ON, Jan.
23, 2017 /CNW/ - Canopy Growth Corporation ("Canopy
Growth") (TSX: CGC) and Mettrum Health Corp. ("Mettrum")
(TSX.V: MT) (together, the "Companies") are pleased to
announce that both Institutional Shareholder Services
("ISS") and Glass, Lewis & Co., LLC ("Glass
Lewis"), leading independent proxy advisory firms which provide
voting recommendations to institutional investors, have recommended
that shareholders of both Companies vote FOR the resolutions to
Approve the Acquisition of Mettrum by Canopy Growth pursuant to the
terms of an arrangement agreement dated November 30, 2016 and
previously announced by the Companies on December 1, 2016 (the
"Transaction").
Shareholders of Canopy Growth are being asked to consider an
ordinary resolution to approve the issuance, or reservation for
issuance, as the case may be, by Canopy Growth, of up to 40,000,000
common shares as may be required at a special meeting of Canopy
Growth shareholders to be held on January
27, 2017. Similarly, shareholders of Mettrum are being asked
to consider a special resolution at a special meeting of Mettrum
shareholders to be held on January 27, 2017 to approve a plan
of arrangement involving the Companies to effect the proposed
Transaction. The background and additional information and
details of the proposed Transaction are contained in the Joint
Management Information Circular of the Companies dated
December 22, 2016 which is available on SEDAR at
www.sedar.com.
If approved and subject to the other conditions being met,
including requisite court approval for the plan of arrangement,
Canopy Growth would acquire all of the issued and outstanding
shares of Mettrum which would result in the creation of a
world-leading diversified cannabis company with six licensed
facilities and a licensed production footprint of approximately
665,000 sq. ft. with significant acreage for expansion.
ISS and Glass Lewis are widely recognized as leading independent
proxy voting and corporate governance advisory firms. Their
analysis and recommendations are relied on by many major
institutional investment firms, mutual funds, and fiduciaries
throughout North America.
ISS stated in making its favourable recommendation "The
transaction makes strategic sense as it will create of a stronger
well-capitalized combined entity. Specifically, Canopy Growth will
add two national brands to its portfolio, increasing its production
platform and fortifying its market position as the largest medical
cannabis company in Canada.
Moreover, the acquisition will provide the company with an expanded
and diversified portfolio of nationally recognized cannabis and
hemp brands, expected to result in cost and revenue synergies via
improved supply chain management and back office efficiencies,
cross-selling to customers and combined research capabilities."
The Companies are pleased that ISS and Glass Lewis support the
recommendations of the Companies' respective board of directors
that Canopy Growth and Mettrum shareholders support the arrangement
and in favour of the proposed Transaction. Your vote is very
important, Canopy Growth and Mettrum shareholders are asked to vote
using the proxy or voting instruction form sent to them in advance
of the voting deadline of 10:00 a.m.,
in the case of Canopy Growth, and 9:30
am, in the case of Mettrum (Eastern Time) on January 25, 2017 or 48 hours prior to the time of
any adjournment or postponement of the respective shareholders
meetings of Canopy Growth and Mettrum (excluding Saturdays, Sundays
and holidays).
Shareholders that require assistance in voting or have questions
regarding the arrangement are asked to contact the Companies' proxy
solicitation agent, Shorecrest Group 1-888-637-5789 (toll free) or
outside North America at
647-931-7454 (collect) or by email at
contact@shorecrestgroup.com.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis company, offering diverse brands
and curated cannabis strain varieties in dried and oil extract
forms. Through its wholly‑owned subsidiaries, Canopy Growth
operates numerous state-of-the-art production facilities with over
half a million square feet of indoor and greenhouse production
capacity. Canopy Growth has established partnerships with leading
sector names in Canada and abroad.
For more information visit www.canopygrowth.com.
About Mettrum Health Corp.
Mettrum Health Corp. is a
Tier 1 Industry Issuer listed on TSX Venture Exchange. With three
licenses to produce and sell medical cannabis under the Access to
Cannabis for Medical Purposes regulations, Mettrum Health Corp. is
a leading producer and vendor of medical cannabis. In addition,
through its wholly-owned subsidiary Mettrum Hempworks, Mettrum also
is a licensed producer and distribution of industrial cannabis
(hemp) products, including Mettrum's functional food line, Mettrum
Originals™, under the Industrial Hemp Regulations
(Canada) issued pursuant to the
Controlled Drugs and Substances Act (Canada). For more information visit
www.mettrum.com.
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but
not always, forward-looking statements 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 involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Companies and their respective
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Examples of such statements include
future operational and production capacity, the impact of enhanced
infrastructure and production capabilities, and forecasted
available product selection. The forward-looking statements
included in this news release are made as of the date of this news
release and neither Canopy Growth Corp. nor Mettrum undertakes any
obligation to publicly update such forward-looking statements to
reflect new information, subsequent events or otherwise unless
required by applicable securities legislation.
Neither the TSX Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation
