At the Meeting, Company Shareholders passed a special resolution (the "Arrangement Resolution") approving the Arrangement, pursuant to which, among other things and subject to the satisfaction (or waiver) of all applicable conditions precedent, HEXO will acquire all of the issued and outstanding common shares of the Company (the "Company Shares") in exchange for 0.01772 of a common share of HEXO for each Company Share. Company Shareholders also passed an ordinary resolution (the "HEXO Debenture Conversion Resolution") approving, if applicable and required, the issuance of more than 213,260,324 Company Shares upon the conversion of a
The total number of Company Shares represented by Company Shareholders present in person or represented by proxy at the Meeting was 354,853,538, representing approximately 39.04% of the issued and outstanding Company Shares as at
The Arrangement Resolution and the HEXO Debenture Conversion Resolution required approval by 662/3% and a majority, respectively, of the votes cast by Company Shareholders present in person or represented by proxy at the Meeting. Details on the voting results at the Meeting are as follows:
Resolution | Votes For | % Votes For | Votes Against | % Votes Against |
Arrangement Resolution | 347,379,154 | 97.9% | 7,474,384 | 2.1% |
HEXO Debenture Conversion Resolution | 342,281,880 | 96.5% | 12,571,658 | 3.5% |
A report of voting results will be filed under the Company's profile on SEDAR at www.sedar.com.
Approval of the Arrangement Resolution was a condition precedent to the completion of the Arrangement. Completion of the Arrangement remains conditional upon approval of the
Further information regarding the Arrangement is set out in the management information circular of the Company dated
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