An anonymous director of Blissco reports
BLISSCO CANNABIS CORP. ANNOUNCES 99.28% SHAREHOLDER APPROVAL OF ARRANGEMENT WITH THE SUPREME CANNABIS COMPANY, INC.
At the special meeting of shareholders of Blissco Cannabis Corp., held today, Blissco shareholders voted in favour of a special resolution to approve the previously announced plan of arrangement between Blissco and The Supreme Cannabis Company Inc. Subject to the terms and conditions of an arrangement agreement between Blissco and Supreme Cannabis dated May 16, 2019, Supreme Cannabis will acquire all of the issued and outstanding common shares of Blissco not already owned by Supreme Cannabis. Obtaining approval from Blissco shareholders is one of the conditions to completing the arrangement.
The arrangement resolution required approval by: (i) at least two-thirds of the votes cast by Blissco shareholders present in person or represented by proxy at the meeting; and (ii) a simple majority of the votes cast by Blissco shareholders present in person or represented by proxy at the meeting, excluding the votes cast by such shareholders as are required to be excluded pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions).
The arrangement resolution was approved by approximately 99.28 per cent of the votes cast by Blissco shareholders present in person or represented by proxy at the meeting. In addition, the arrangement resolution was also approved by approximately 99.16 per cent of the votes cast by Blissco shareholders present in person or represented by proxy at the meeting, excluding such shareholders as are required to be excluded pursuant to MI 61-101.
It is expected that Blissco will apply for a final order of the Supreme Court of British Columbia on July 11, 2019. Completion of the arrangement remains subject to other customary closing conditions, including the aforementioned court order. Assuming that the conditions to closing are satisfied or waived, it is expected that the arrangement will be completed on or around July 12, 2019. Following completion of the arrangement, Blissco will be delisted from the Canadian Securities Exchange, and applications will be made for Blissco to cease to be a reporting issuer.
About Blissco Cannabis Corp.
Blissco Cannabis is a Canadian wellness cannabis brand based in British Columbia and a multilicensed processor and distributor of premium cannabis. Blissco owns and operates an 18,000-square-foot, state-of-the-art extraction and processing facility, located in metro Vancouver, B.C. Blissco is supplying premium cannabis products to the Canadian market with supply agreements in British Columbia, Alberta, Saskatchewan and New Brunswick. In support of Blissco's global distribution strategy, the company has initiated its European Union GMP (good manufacturing practices) certification process and has completed its first inspection by German authorities.
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