Of votes cast to date, 99.23% are in favour of the transaction
CannaRoyalty Corp, Origin House, a North American cannabis products and brands company, today announced that, based on the votes cast to date, the Company has received overwhelming support in respect of the statutory plan of arrangement (as amended, the "Arrangement") pursuant to which Cresco Labs Inc. ("Cresco Labs") will acquire all of the issued and outstanding shares of Origin House.
As of the close of markets on December 12, 2019, the trading day prior to the dissemination of this press release, of the votes cast, 99.23% are in favour of the Arrangement, with votes representing 23.17% of all eligible votes having been cast to date.
The Board of Directors of Origin House encourages shareholders to vote in favour of the Arrangement, before the deadline of Friday, December 27, 2019, at 10:00 am ET.
Under the terms of the Arrangement, Origin House shareholders will ultimately receive 0.7031 of a subordinate voting share of Cresco Labs ("Cresco Labs Share") for each common share of Origin House held and 70.31 Cresco Labs Shares for each class A compressed share of Origin House held, provided that such share entitlement may be subject to downward adjustment in accordance with the terms and conditions of the Arrangement.
The board of directors of Origin House unanimously recommends that shareholders vote for the Arrangement
Disclaimer: Past performance is not an indicator of future performance.
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