Brief: Canopy Growth To Acquire Hiku Brands

Entourage Health

10/07/2018 20:25

July 10 (Reuters) - Hiku Brands Company Ltd  HIKU.CD :
    * CANOPY GROWTH TO ACQUIRE HIKU BRANDS TO STRENGTHEN RETAIL
AND
BRAND PORTFOLIO
    * HIKU BRANDS COMPANY LTD - HIKU SHAREHOLDERS WILL RECEIVE
0.046
OF A CANOPY GROWTH COMMON SHARE IN EXCHANGE FOR EACH COMMON
SHARE OF HIKU
    * HIKU BRANDS COMPANY LTD - BOARD OF DIRECTORS OF HIKU HAS
UNANIMOUSLY APPROVED AGREEMENT WITH CANOPY GROWTH
    * HIKU BRANDS COMPANY LTD - BOARD OF DIRECTORS OF CANOPY
GROWTH
HAS UNANIMOUSLY APPROVED AGREEMENT WITH HIKU BRANDS CO
    * HIKU BRANDS - AGREEMENT WITH CANOPY GROWTH ALSO PROVIDES
FOR
PAYMENT OF A C$15 MILLION TERMINATION FEE, IF TRANSACTION
TERMINATED IN CERTAIN CIRCUMSTANCES
    * HIKU BRANDS - BOARD UNANIMOUSLY DETERMINED THAT CANOPY
GROWTH
TRANSACTION CONSTITUTES "SUPERIOR PROPOSAL" AS PER APRIL 19
AGREEMENT BETWEEN CO, WEEDMD
    * HIKU BRANDS - WEEDMD AGREEMENT HAS BEEN TERMINATED AND CO
HAS
PAID A TERMINATION FEE OF C$10 MILLION TO WEEDMD PURSUANT THE
TERMS OF THE WEEDMD AGREEMENT

Source text for Eikon:  ID:nCNWg2CjYa 
Further company coverage:  HIKU.CD  WEED.TO  WMD.V 

 ((Reuters.Briefs@thomsonreuters.com;))