Acreage to Distribute $300 Million in Option Premium to its Shareholders


Ryan Allway

June 25th, 2019

News


Further to the June 21st, 2019 announcement by Acreage Holdings, Inc. (CSE:ACRG.U) (OTC:ACRGF) (FRA:0VZ), Acreage has set the record date for entitlement to the pro rata portion of the $300,000,000 USD in option premium being paid by Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) (FRA:11L1) as consideration for granting the Canopy Growth Call Option as described in the Acreage press release.

It is expected that the option premium will be distributed to such holders of record on or before the third business day following the initial effective date of June 27th, 2019.

According to the Notice of Distribution issued by the Canadian Securities Exchange, “pursuant to the payment of the Option Premium, each holder of Subordinate Voting Shares and certain other eligible holders of securities exchangeable for Subordinate Voting Shares will receive approximately US$2.63 per Subordinate Voting Share (on an as converted to Subordinate Voting Share basis), with the final amount to be received by each holder determined based on the number of Subordinate Voting Shares into which all of the eligible securities would be converted at the close of business on the record date.”

Symbol/Symbole: ACRG.U
Ex-distribution Date/Date ex-distribution: le 25 juin/June 2019
Record Date/Date d’enregistrement: le 26 juin/June 2019

Shares of Acreage Holdings are up over 1.6% following the distribution announcement. Be sure to subscribe to updates here so you never miss an important development.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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