SMITHS FALLS, ON, June 28, 2018 /CNW/ - Canopy Growth Corporation
(TSX:WEED) (NYSE:CGC) ("Canopy Growth") and Canopy
Rivers Corporation ("Canopy Rivers", together with
Canopy Growth, the "Acquirors") today announced that they
have filed an early warning report under National Instrument 62-103
in connection with the closing of the previously announced
qualifying transaction (the "Transaction") of LiveWell
Canada Inc. (formerly Percy Street Capital Corporation)
("LiveWell").
Pursuant to the Transaction, in exchange for their common shares
of LiveWell Foods Canada Inc., the Acquirors received an aggregate
of 17,589,552 common shares of Livewell ("Common
Shares"), representing approximately 14.01% of the issued
and outstanding Common Shares on a non-diluted basis. Canopy Growth
holds 11,726,364 Common Shares and Canopy Rivers holds 5,863,188
Common Shares. Prior to the Transaction, the Acquirors did not hold
any Common Shares or convertible securities of LiveWell.
Certain of the Common Shares held by the Acquirors are subject
to escrow provisions. While the Acquirors currently have no plans
or intentions with respect to the LiveWell securities, subject to
the escrow provisions noted above, depending on market conditions,
general economic and industry conditions, trading prices of
LiveWell's securities, LiveWell's business, financial condition and
prospects and/or other relevant factors, the Acquirors may develop
such plans or intentions in the future and, at such time, may from
time to time acquire additional securities, dispose of some or all
of the existing or additional securities or may continue to hold
the Common Shares or other securities of LiveWell.
Notice Regarding Forward Looking Statements
This news
release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and "forward-looking information" within the meaning of applicable
Canadian securities legislation. Often, but not always,
forward-looking statements and information can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget" "scheduled", "estimates", "forecasts",
"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 or information involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Acquirors to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements or
information contained in this news release. Examples of such
statements include statements with respect to the Acquirors'
expectations in connection with the sale or purchase of additional
common shares of LiveWell in the future, on the open market or in
private transactions. Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Although the Acquirors believe the assumptions and
factors used in preparing the forward-looking information or
forward-looking statements in this news release are reasonable,
undue reliance should not be placed on such information and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The forward-looking information and
forward-looking statements included in this news release are made
as of the date of this news release and the Acquirors do not
undertake an obligation to publicly update such forward-looking
information or forward-looking information to reflect new
information, subsequent events or otherwise unless required by
applicable securities laws.
SOURCE Canopy Growth Corporation