VANCOUVER, July 30, 2019 /CNW/ - Hempco Food and Fiber Inc (TSXV:HEMP) ("Hempco") today announced that Institutional Shareholder Services Inc. ("ISS"), a leading independent proxy advisory firm, has recommended that shareholders of Hempco vote FOR the shareholder resolution (the "Arrangement Resolution") pertaining to the acquisition by Aurora Cannabis Inc. ("Aurora") (NYSE: ACB) (TSX: ACB) (Frankfurt: 21P; WKN: A1C4WM), of all of the issued and outstanding shares of Hempco which Aurora does not already currently own. Aurora currently holds 51% of the outstanding common shares of Hempco.
If the Arrangement Resolution is passed by Hempco shareholders, each Hempco shareholder other than Aurora, will receive $1.04 per Hempco share, payable in common shares of Aurora shares at a deemed value of $12.01, resulting in an exchange ratio of approximately 0.08659 Aurora shares for each Hempco share.
The meeting to approve the Arrangement Resolution is scheduled for August 13, 2019, at 9:00am Vancouver time. The deadline to vote is August 9, 2019, at 9:00am Vancouver time.
Shareholders may vote via the internet, by phone or fax following the instructions found on their voting form. If you have any questions or require assistance voting your shares, please contact Hempco's proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in North America, or call collect outside North America at +1 416 304-0211, or by e-mail at [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Hempco Food and Fiber Inc.
For further information: John Ross, Interim Chief Executive Officer and Chief Financial Officer, +1.647.291.4234, [email protected]; Darlene Webb, Investor Relations Strategist, +1.647.992.3806, [email protected]