SMITHS FALLS, ON, June 28, 2018 /CNW/ - Canopy Growth Corporation (TSX:WEED) (NYSE: CGC) ("Canopy Growth") and Canopy Rivers Corporation ("Canopy Rivers", together with Canopy Growth, the "Acquirors") today announced that they have filed an early warning report under National Instrument 62-103 in connection with the closing of the previously announced qualifying transaction (the "Transaction") of LiveWell Canada Inc. (formerly Percy Street Capital Corporation) ("LiveWell").
Pursuant to the Transaction, in exchange for their common shares of LiveWell Foods Canada Inc., the Acquirors received an aggregate of 17,589,552 common shares of Livewell ("Common Shares"), representing approximately 14.01% of the issued and outstanding Common Shares on a non-diluted basis. Canopy Growth holds 11,726,364 Common Shares and Canopy Rivers holds 5,863,188 Common Shares. Prior to the Transaction, the Acquirors did not hold any Common Shares or convertible securities of LiveWell.
Certain of the Common Shares held by the Acquirors are subject to escrow provisions. While the Acquirors currently have no plans or intentions with respect to the LiveWell securities, subject to the escrow provisions noted above, depending on market conditions, general economic and industry conditions, trading prices of LiveWell's securities, LiveWell's business, financial condition and prospects and/or other relevant factors, the Acquirors may develop such plans or intentions in the future and, at such time, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the Common Shares or other securities of LiveWell.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget" "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved". Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Acquirors to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to the Acquirors' expectations in connection with the sale or purchase of additional common shares of LiveWell in the future, on the open market or in private transactions. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Acquirors believe the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Acquirors do not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
SOURCE Canopy Growth Corporation
For further information: A copy of the early warning report filed by the Acquirors will be available under LiveWell's profile on SEDAR at www.sedar.com or by contacting Phil Shaer, Chief Legal Officer of Canopy Growth at 613-706-2185 or Matthew Mundy, General Counsel and Corporate Secretary of Canopy Rivers at 647-475-0437. Canopy Growth and Canopy Rivers' head offices are located at 1 Hershey Drive, Smith Falls, Ontario, K7A 0A8 and LiveWell's head office is located at 340 Albert Street, Suite 1400, Ottawa, Ontario, K1R 0A5.