Mr. Ali Mahdavi of Mettrum reports
METTRUM RECEIVES COURT APPROVAL IN CONNECTION WITH PROPOSED PLAN OF ARRANGEMENT WITH CANOPY GROWTH CORPORATION
The Ontario Superior Court of Justice has issued a final order approving the proposed acquisition by Canopy Growth Corp. of all of the issued and outstanding common shares of Mettrum Health Corp. by way of a plan of arrangement, as previously announced by the companies on Dec. 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 Nov. 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 Jan. 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 square feet 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 Jan. 31 and Mettrum's common shares will be delisted from the TSX Venture Exchange in the normal course shortly thereafter.
About Mettrum Health
Mettrum Health is a Tier 1 industry issuer listed on the TSX Venture Exchange. With three licences to produce and sell medical cannabis under the access to cannabis for medical purposes
regulations, Mettrum Health 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).
About Canopy Growth
Canopy Growth is the world's 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.
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