Brief: Hiku Brands, Weedmd To Merge To Create Vertically Integrated Industry Leader

Entourage Health

19/04/2018 12:48

April 19 (Reuters) - Hiku Brands Company Ltd  HIKU.CD :
    * PRESS RELEASE - HIKU BRANDS AND WEEDMD TO MERGE IN
TRANSFORMATIONAL TRANSACTION TO CREATE VERTICALLY INTEGRATED
INDUSTRY LEADER
    * HIKU BRANDS COMPANY LTD - WEEDMD SHAREHOLDERS WILL RECEIVE
1.4185 HIKU COMMON SHARES IN EXCHANGE FOR EACH WEEDMD COMMON
SHARE
    * HIKU BRANDS COMPANY LTD -  ARRANGEMENT AGREEMENT HAS BEEN
UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF EACH OF WEEDMD
AND HIKU
    * HIKU BRANDS COMPANY LTD -  UPON COMPLETION OF TRANSACTION,
ALAN
GERTNER WILL REMAIN CHIEF EXECUTIVE OFFICER OF HIKU
    * HIKU BRANDS COMPANY LTD -  UPON COMPLETION , KEITH MERKER,
CURRENTLY CFO OF WEEDMD, WILL ASSUME POSITION OF PRESIDENT OF
HIKU
    * HIKU BRANDS COMPANY - EXPECTED THAT COMBINED CO TO HAVE A
7-MEMBER BOARD, WITH 3 EACH TO BE APPOINTED BY CO, WEEDMED, ONE
MEMBER TO BE MUTUALLY AGREED
    * HIKU BRANDS COMPANY LTD -  UPON COMPLETION, EXISTING CO &
WEEDMD
SHAREHOLDERS TO OWN ABOUT  51.75% AND 48.25% OF COMBINED CO,
RESPECTIVELY
    * HIKU BRANDS COMPANY LTD -  UPON CLOSING, ANTICIPATED THAT
COMMON
SHARES OF PRO FORMA RESULTING ENTITY WILL BE LISTED ON TSX
VENTURE EXCHANGE

Source text for Eikon:  ID:nCNWv0mXSa 
Further company coverage:  HIKU.CD 

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