Mr. Rob Reid reports
SCYTHIAN BIOSCIENCES ANNOUNCES SUCCESSFUL RESULTS OF SPECIAL MEETING OF SHAREHOLDERS
Scythian Biosciences Corp. has released the results of Scythian's special meeting of shareholders on Sept. 14, 2018.
At the special meeting, shareholders approved the sale of the company's South American and Caribbean assets to Aphria Inc. -- the terms and conditions of which were set out in the company's management information circular dated Aug. 13, 2018. The transaction required the approval of a simple majority of the shareholders and, because Aphria is a related party to Scythian under applicable securities law, also required the approval of the majority of the minority shareholders in accordance with Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The detailed results of the majority of the minority vote were as shown in the attached table.
Special matter Total votes Votes for % votes for Votes against % votes against
Approval of the transaction 10,295,949 10,272,914 99.8% 23,035 0.2%
The closing of the transaction is expected to occur on or about the end of September, 2018.
Scythian's shareholders also approved a special resolution authorizing the amendment of the company's articles to change the name of the corporation from "Scythian Biosciences Corp." to "SOL Investments Corp." The name change will take effect following the completion of the transaction.
On Sept. 14, 2018, the company announced the entering into of a share purchase agreement with MMJ International Investments Inc. and all of the shareholders of MMJ. MMJ owns ABP SA, an Argentinean pharmaceutical distribution company. If completed, and after giving effect to the recently completed acquisitions of MMJ Colombia Partners Inc. and Marigold Acquisitions Inc., the number of issued and outstanding common shares of the company is expected to be 48,849,218.
About Scythian Biosciences Corp.
Scythian is an international cannabis company with a focus on the world's leading markets outside of Canada. Its fast-tracked growth has come through a number of strategic investments and regional partnerships in cultivation, distribution and branded products across Europe, United States, South America and the Caribbean.
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