Calgary, Alberta--(Newsfile Corp. - November 18, 2020) - In accordance with the requirements of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"), High Tide Inc. (the "Reporter") announces that it has acquired beneficial ownership and control over 237,941,274 common shares ("Common Shares") in the capital of Meta Growth Corp. ("Meta"), which represents 100% of the issued and outstanding Common Shares.
This announcement is made in connection with the completion of the plan of arrangement ("Arrangement") on November 18, 2020, pursuant to which the Reporter acquired all of the Common Shares. Under the terms of the Arrangement, each former holder of Common Shares received 0.824 common shares in the capital of the Reporter (each, a "High Tide Share"). For details of the Arrangement, please see the Reporter's press release dated November 18, 2020.
Immediately prior to the closing of the Arrangement, the Reporter did not have beneficial ownership and control over any Common Shares. Immediately after the completion of the Arrangement, the Reporter owns 237,941,274 Common Shares, representing 100% of the issued and outstanding Common Shares. As a result of the Arrangement, Meta became a wholly-owned subsidiary of the Reporter.
The purpose of the Arrangement was to enable the Reporter to acquire all of the outstanding Common Shares. The Reporter holds the Common Shares for investment purposes and may, in the future, increase or decrease its ownership of Common Shares or other securities of Meta, from time to time depending upon, among other things, the business and prospects of Meta and future market conditions.
For further information or to obtain a copy of the early warning report filed under applicable securities legislation in connection with the transactions set forth hereunder, please go to the Reporter's profile on SEDAR, at www.sedar.com, or contact Krystal Dafoe at 403-770-9435.
This news release contains "forward-looking information" within the meaning of applicable securities law relating to, future plans and intentions of the Reporter and associated matters. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things that the plans of the Reporter may change. The statements in this press release are made as of the date of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68550
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