Bluma Wellness Inc. announced that shareholders of the Company approved all resolutions brought before them at the Company’s Special Meeting of Shareholders held today, including the special resolution to approve the acquisition of the Company by Cresco Labs Inc. (“Cresco”), by way of a plan of arrangement under the Business Corporations Act (British Columbia). If the Arrangement is completed, Cresco will, among other things, acquire all of the issued and outstanding common shares in the capital of the Company, in exchange for which Bluma Shareholders will receive 0.0859 of a subordinate voting share of Cresco for each Bluma Share held, subject to adjustment in accordance with the terms of the Plan of Arrangement. The completion of the Arrangement is subject to a number of conditions, including but not limited to the receipt of regulatory approval of the Florida Department of Health Office of Medical Marijuana Use and final order (the “Final Order”) of the Supreme Court of British Columbia.
Mmp News Author, Medical Marijuana Program Connection, 03/19/2021 20:02:00