TORONTO, April 19, 2018 (GLOBE NEWSWIRE) — Hiku Brands Company Ltd. (“Hiku”) (CSE:HIKU) and WeedMD Inc. (TSX-V:WMD) (OTC:WDDMF) (FSE:4WE) (“WeedMD”), are at the request of IIROC, providing a clarification to their joint press release of earlier today. The companies re-affirm that they are pleased to announce that today they have entered into a definitive agreement (the “Arrangement Agreement”) to merge both companies (the “Transaction”). The Transaction combines two highly-complementary businesses and creates a vertically integrated company. Upon completion of the Transaction, existing Hiku and WeedMD shareholders will own approximately 51.75% and 48.25% of the combined company, respectively, on a fully-diluted basis. Upon closing of the Transaction, it is anticipated that the common shares of the pro forma resulting entity will be listed on the TSX Venture Exchange (“TSX-V”), subject to regulatory approvals. Joint management will be hosting a conference call on Friday, April 20, 2018 beginning at 10:00AM EST. See end of the press release for details.
Clarification and Retraction, Hiku Brands and WeedMD to Merge in Transformational Transaction to Create Vertically Integrated Cannabis Company
by GlobeNewsWire | Apr 19, 2018 | Globe Newswire