Company Website:
http://www.CanniMedTherapeutics.com
SASKATOON, Saskatchewan -- (Business Wire)
CanniMed Therapeutics Inc. (“CanniMed” or the “Company”)
(TSX:CMED) announces it has determined to postpone the Special
Shareholders’ Meeting (the “Meeting”) originally scheduled for
January 23, 2018 to Thursday, January 25 at 10:00 am (EST). The cut off
time for the deposit of proxies will be at 10:00 am (EST) on Tuesday,
January 23, 2018, being 48 hours prior to the time of the Meeting.
Newstrike Resources Ltd. (“Newstrike”) has consented to such
postponement. The Meeting will be held at the offices of Borden Ladner
Gervais LLP, Bay Adelaide Centre East Tower, 22 Adelaide Street West,
Toronto, ON M5H 4E3, 34th floor.
CanniMed has determined to postpone the Meeting to allow discussions
regarding a possible transaction with Aurora Cannabis Inc. (“Aurora”)
as permitted under the terms of the Arrangement Agreement between
CanniMed and Newstike, dated November 17, 2017. There is no certainty
that any such discussion will result in an agreement among the parties
in respect of a transaction or in any change to the terms of Aurora’s
offer dated November 24, 2017 (as amended).
CanniMed and Aurora have each agreed to a standstill until January 21,
2018 at 11:59 pm (EST), and until such time, and in connection therewith
(i) neither CanniMed nor Aurora will solicit any proxies of CanniMed
shareholders, (ii) Aurora will not, directly or indirectly, acquire
control or direction over any additional shares of CanniMed, (iii)
neither CanniMed nor Aurora will make any announcement or public
statements in respect of a potential transaction nor will Aurora make or
publicly announce any changes to its offer dated November 24, 2017 (as
amended) unless mutually agreed; and (iv) and neither CanniMed nor
Aurora will solicit an alternative transaction or enter into any
discussions or negotiations with respect to an alternative transaction
during the standstill period.
The Meeting has been called to consider an ordinary resolution of the
shareholders of CanniMed approving the issuance or reservation for
issuance of such number of common shares of CanniMed as may be required
pursuant to the plan of arrangement relating to the acquisition of
Newstrike, all as more particular described in the management
information circular of CanniMed dated December 8, 2017 available at www.sedar.com.
The Meeting will proceed on January 25, 2018 unless adjourned or
postponed further.
Advisors
Kingsdale Advisors is acting as strategic shareholder and communications
advisor. AltaCorp Capital Inc. is acting as financial advisor to the
Board and Borden Ladner Gervais LLP is acting as legal advisor to the
Board. Cormark Securities Inc. is acting as financial advisor to the
Special Committee and Stikeman Elliott LLP is acting as legal advisor to
the Special Committee.
About CanniMed Therapeutics Inc.
CanniMed is a Canadian-based, international plant biopharmaceutical
company and a leader in the Canadian medical cannabis industry, with 17
years of pharmaceutical cannabis cultivation experience,
state-of-the-art, GMP-compliant production process and world class
research and development platforms with a wide range of
pharmaceutical-grade cannabis products. In addition, the Company has an
active plant biotechnology research and product development program
focused on the production of plant-based materials for pharmaceutical,
agricultural and environmental applications.
The Company, through its subsidiaries, was the first producer to be
licensed under the Marihuana for Medical Purposes Regulations, the
predecessor to the current Access to Cannabis for Medical Purposes
Regulations. It was the sole supplier to Health Canada under the former
medical marijuana system for 13 years, and has been producing safe and
consistent medical marijuana for thousands of Canadian patients, with no
incident of product diversion or recalls.
For more information, please visit our websites: www.cannimed.ca
(patients) and www.cannimedtherapeutics.com
(investors).
View source version on businesswire.com: http://www.businesswire.com/news/home/20180118005976/en/
Contacts:
Media:
Kingsdale Advisors
Ian Robertson, 416-867-2333
Executive
Vice President, Communication Strategy
irobertson@kingsdaleadvisors.com
Cell:
647-621-2646
or
Shareholders:
Kingsdale Advisors
Toll
free: 1-888-518-1554
contactus@kingsdaleadvisors.com
Source: CanniMed Therapeutics Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.