TORONTO and SMITHS FALLS,
ON, Jan. 30, 2017 /CNW/ -
Mettrum Health Corp. ("Mettrum") (TSXV: MT) and Canopy
Growth Corporation (TSX: CGC) ("Canopy Growth", and together
with Mettrum, the "Companies") are pleased to announce that
the Ontario Superior Court of Justice has issued a final order
approving the proposed acquisition by Canopy Growth of all of the
issued and outstanding common shares of Mettrum by way of a plan of
arrangement (the "Arrangement"), as previously announced by
the Companies on December 1,
2016.
Completion of the Arrangement remains conditional on certain
closing conditions customary for transactions of this nature
pursuant to the terms of the definitive arrangement agreement dated
November 30, 2016, as amended. Subject to the satisfaction or
waiver of all such closing conditions, it is anticipated that the
Arrangement will be completed after the markets have closed on
January 31, 2017.
The Arrangement, if completed, will 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. Following
completion of the Arrangement, Mettrum will become a wholly-owned
subsidiary of Canopy Growth, trading of Mettrum's common shares on
the TSX Venture Exchange will be halted after closing on
January 31 and Mettrum's common
shares will be delisted from the TSX Venture Exchange in the normal
course shortly thereafter.
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.
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, Tweed, Tweed Farms, and Bedrocan Canada, Canopy
Growth operates three 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements are generally identifiable by use
of the words "expect", "anticipate", "continue", "estimate",
"objective", "ongoing", "may", "will", "project", "should",
"believe", "plans", "intends" or the negative of these words or
other variations on these words or comparable terminology and
include statements with respect to all regulatory approvals and the
completion of the Arrangement. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Mettrum and Canopy Growth
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.
None of the TSX Venture Exchange, TSX Exchange nor their
Regulation Services Provider (as that term is defined in their
respective policies) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Canopy Growth Corporation
