SMITHS FALLS, ON, April 7, 2016 /CNW/ - Canopy Growth Corporation
(TSXV: CGC) ("Canopy Growth" or the "Company") announced that it
has entered into an engagement agreement with XIB Consulting Inc.
("XIB"), to assist Canopy Growth with corporate development
initiatives including, but not limited to, acquisitions, strategic
networking and market awareness.
"We made a number of strategic acquisitions over the past two
years to leverage large-scale production platforms, brand diversity
and innovative customer engagement. These acquisitions have
helped Canopy become a dominant marijuana company in Canada," said Bruce
Linton, Chairman & CEO, Canopy Growth.
Added Linton, "The principals at XIB have developed a broad
network and in-depth knowledge and experience in the sector. They
will assist us in evaluating the landscape as we explore additional
opportunities to expand our leadership position."
"We look forward to working with Canopy Growth as it
continues to build upon its unique and scalable portfolio of
cannabis brands and world-class cannabis production platforms,"
said Sean McNulty, Principal at
XIB.
Subject to the approval of the TSX Venture Exchange (the "TSXV")
and pursuant to the engagement agreement, which has an initial term
of six months, the Company shall satisfy the engagement fee payable
to XIB by issuing 38,656 of Common Shares in the capital of Canopy
Growth to XIB, which may be credited against incremental success
fees payable under certain circumstances. The Common Shares will be
issued at a price of $2.59 per
share.
The appointment of XIB as a consultant of Canopy Growth and the
corresponding share issuance remains subject to standard regulatory
acceptance of applicable filings with the TSX Venture Exchange.
About Canopy Growth:
Canopy Growth Corporation ("Canopy Growth") is one of the
world's leading diversified cannabis companies. Through the
operations of its wholly-owned subsidiaries, Tweed Inc., Tweed
Farms Inc., and Bedrocan Canada Inc., Canopy Growth offers diverse
brands and curated cannabis strain varieties in dried and oil
extract forms, all supported by three state-of-the-art production
facilities with over half a million square feet of indoor and
greenhouse production capacity. For more information,
www.canopygrowth.com.
About XIB Consulting:
XIB Consulting Inc., part of the XIB Financial group of
companies, is a Toronto-based
capital markets consulting and advisory firm founded by
Sean McNulty and Peter Hatziioannou. With over 15 years of
combined mergers and acquisitions advisory, institutional equity
sales, and event-driven hedge fund experience, XIB offers clients
corporate consulting services from a unique perspective in the
Canadian capital markets.
Forward-Looking Statements
This news release contains forward-looking statements. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "estimates", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Canopy Growth Corporation, Tweed
Inc., Tweed Farms Inc. or Bedrocan Canada Inc. to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. The
forward-looking statements included in this news release are made
as of the date of this news release and Canopy Growth Corporation
does not undertake an obligation to publicly update such
forward-looking statements to reflect new information, subsequent
events or otherwise unless required by applicable securities
legislation.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation