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Canopy Growth to Acquire Hiku Brands

Published: 07/10/2018

Team: Paul M. Stein, Jeffrey P. Roy, Jamie Litchen, Jonathan Sherman, Miriam El Ofir, Carla Potter, Ardy Mohajer, Kwaku Tabi, Chris Hersh, James G. Morand

On July 10, 2018, Canopy Growth Corporation and Hiku Brands Company Ltd. entered into a definitive arrangement agreement pursuant to which Canopy Growth will acquire all of the issued and outstanding common shares of Hiku.

Under the terms of the agreement, Hiku shareholders will receive 0.046 of a Canopy Growth common share in exchange for each common share of Hiku. The transaction will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require the approval of at least 66 2/3% of the votes cast by the shareholders of Hiku at a special meeting.

Cassels Brock is acting for Canopy Growth with a deal team that includes Paul Stein, Jeffrey Roy, Jamie Litchen, Jonathan Sherman and Miriam El-Ofir (Securities, M&A and Cannabis), Carla Potter (Financial Services), Ardy Mohajer and Kwaku Tabi (Real Estate), Chris Hersh (Competition) and James Morand (Taxation).