Canopy Growth and Hiku Announce Closing of Acquisition

Published: September 5, 2018

Canopy Growth and Hiku Announce Closing of Acquisition

Canopy Growth Corporation and Hiku Brands Company Ltd. officially closed the previously announced acquisition of Hiku by Canopy Growth. Today’s announcement follows Hiku’s special meeting of shareholders held on August 30, 2018 where holders of the common shares of Hiku (the “Hiku Shares”) voted to approve the Transaction.

“Leaves begin to turn. Canopy adds bold new brands. Ready for retail,” commented Bruce Linton, Chairman & Co-CEO, Canopy Growth. “The Tweed and Vert brands we’ve built are now complemented with the likes of DOJA, Tokyo Smoke, Maitri, and Van der Pop, placing the taste-makers of tomorrow’s cannabis industry on the same team.”

As a result of the Transaction, Hiku has become a wholly-owned subsidiary of Canopy Growth and the Hiku Shares are anticipated to be de-listed from the Canadian Securities Exchange on September 6, 2018. Trading of the Hiku Shares was halted on the Canadian Securities Exchange as of noon on August 31, 2018. Pursuant to the Transaction, Canopy Growth acquired 100% of the issued and outstanding common shares of Hiku and Hiku shareholders are entitled to receive 0.046 of a Canopy Growth common share in exchange for each Hiku Share held immediately prior to the closing.

“Since day one we’ve believed in a singular vision – that recreational cannabis is a consumer product and that consumers will ultimately choose brands they identify with from exceptional retail environments,” said Alan Gertner, CEO, Hiku. “Today is a pivotal moment in our journey as it represents the chance to tell our story on the biggest stage with the greatest cannabis company the world has ever seen. We could not be more honoured to bring best in class brands and retail to consumers alongside Canopy Growth.”

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