Hiku Brands Company Ltd. (fka DJACF)

[JohnCM]

Canopy Growth to acquire Hiku Brands to strengthen retail and brand portfolio

Jul. 10, 2018 3:50 PM ET

Canopy Growth (CGC -1.8%) and Hiku Brands (OTCPK:DJACF +1.7%) are pleased to announce that they have entered into a definitive arrangement, in 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 provides Hiku shareholders with a premium of 33% based on the 20-day volume weighted average prices of the Canopy Shares and the Hiku Shares as of July 9, 2018, and a premium of 21% based on the closing prices of the Canopy Shares on the TSX and the Hiku Shares on the CSE on July 9, 2018.