Acreage files proxy statement related to arrangement with Canopy Growth

Acreage Holdings (ACRGF) announced that it: (i) obtained an interim order of the Supreme Court of British Columbia dated January 18, 2023, as varied on February 13, 2023, in connection with its proposed arrangement involving Canopy Growth Corporation (CGC) and Canopy USA, LLC, to be implemented under a statutory plan of arrangement pursuant to section 288 of the Business Corporations Act; and (ii) filed its proxy statement and management information circular and related materials with the United States SEC in respect of the special meeting of holders of Acreage’s Class D subordinate voting shares to be held on March 15 to approve the Floating Share Arrangement and matters related thereto. The special resolution approving the Floating Share Arrangement must be approved by: (i) at least 66 2/3% of the votes cast by Floating Shareholders, present virtually or represented by proxy and entitled to vote at the Meeting; and (ii) in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, a simple majority of votes cast by the Floating Shareholders, present virtually or represented by proxy and entitled to vote at the Meeting, excluding the votes in respect of Floating Shares cast by any "interested party", any "related party" of an "interested party" or any "joint actor." In addition to satisfying the conditions set forth in the Floating Share Arrangement Agreement, the implementation of the Floating Share Arrangement is subject to obtaining the final order of the Court, approval of the Floating Share Arrangement from Floating Shareholders at the Meeting and satisfaction of certain other conditions to implementing the Floating Share Arrangement, as set forth in the arrangement agreement dated October 24, 2022 among Acreage, Canopy and Canopy USA.