Updated Arrangement Between Canopy Growth and Acreage

Acreage Obtains Final Order from Court for Amended Plan with Canopy Growth and Confirms Upfront Payment Date.

Canopy Growth Corporation (TSX:WEED) and Acreage Holdings, Inc. (CSE:ACRG.U) are pleased to announce that Acreage has obtained a final order from the Supreme Court of British Columbia approving the previously announced amended arrangement under section 288 of the Business Corporations Act (British Columbia) involving Canopy Growth.

Acreage and Canopy Growth anticipate implementing the Amended Arrangement on or about September 23, 2020. Holders of Acreage shares and certain securities convertible or exchangeable into Class A subordinate voting shares of Acreage as of the close of business on September 22, 2020, the business day immediately preceding the Amendment Date, will be entitled to receive their pro-rata portion of US$37,500,024 being paid by Canopy Growth. It is expected that the Upfront Payment will be distributed to such holders of record on or before the third business day following the Amendment Date.

In connection with the Upfront Payment, each holder of shares of Acreage and certain other holders of securities convertible or exchangeable for Subordinate Voting Shares will receive approximately US$0.30 per Subordinate Voting Share (on an as-converted to Subordinate Voting Share basis), with the final amount to be received by each holder to be determined based on the number of Subordinate Voting Shares into which all of the eligible securities would be converted at the close of business on the Record Date.

Shareholders of Acreage as of the Record Date with questions regarding the Upfront Payment should contact their broker for additional information.

As previously announced, Acreage received the required shareholder approval in connection with the Amended Arrangement at its special meeting of shareholders held on September 16, 2020.

To learn more about Canopy Growth, visit their company HQ here.

To find out more about Acreage, visit their company HQ here.

Disclaimer: Past performance is not an indicator of future performance.

Disclaimer: Past performance is not an indicator of future performance.

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Mikayla Chadwick
Mikayla Chadwick

Mikayla Chadwick is a Melbourne-based writer, focused on human and legal rights, global affairs and popular culture. Mikayla holds a Bachelor of Arts Degree and is currently completing a research degree in sex work policy reform.

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