SMITHS FALLS, ON and
TORONTO, Jan. 31, 2017 /CNW
Telbec/ - Canopy Growth Corporation (TSX: CGC) ("Canopy Growth" or
"the Company) and Mettrum Health Corp. ("Mettrum") (TSX.V:MT)
(together, the "Companies") today announced the closing of the
acquisition of Mettrum by Canopy Growth pursuant to the terms of an
arrangement agreement dated November 30, 2016, as
amended, and previously announced by the Companies on
December 1, 2016 (the "Transaction").
"We are extremely pleased that we have been able to complete
this acquisition," said Bruce
Linton, Chairman & CEO, Canopy Growth. "With Mettrum now
under the canopy, our cannabis product offerings, brands,
production capacity, financial strength, and growth potential, both
in Canada and abroad, is truly
unparalleled."
As a result of the closing of the Transaction, Mettrum has
become a wholly-owned subsidiary of Canopy, trading of Mettrum
shares has been halted, and in the normal course, these shares will
no longer be listed on TSX Venture Exchange. Upon the
completion of the Transaction, Mettrum shareholders will receive
0.7132 common shares of Canopy Growth for each Mettrum common share
held immediately prior to the closing.
The process for exchanging the Mettrum common shares is
described in the Joint Management Information Circular of the
Companies dated December 22, 2016
that was mailed to Mettrum shareholders and is available on
SEDAR. Questions related to the share exchange process are to
be directed to the Offices of the Depositary, Computershare
Investor Services Inc. at 1-800-564-6253.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis company, offering diverse brands
and curated cannabis strain varieties in dried and oil extract
forms. Through its wholly‑owned subsidiaries, Canopy Growth
operates numerous 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. For more
information visit www.canopygrowth.com.
About Mettrum Health Corp.
With three licenses to
produce and sell medical cannabis under the Access to Cannabis
for Medical Purposes Regulations, Mettrum Health Corp. 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). For
more information visit www.mettrum.com.
Notice Regarding 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 and its subsidiaries 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 TSX nor its Regulation Services Provider (as that
term is defined in policies of the TSX) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation