HEXO Corp (HEXO)

[blueyedguy]

NEWS: Press Release: Newstrike Obtains Final Order Approving Plan of Arrangement with HEXO
Today 3:01 PM ET (Dow Jones)Print

Newstrike Obtains Final Order Approving Plan of Arrangement with HEXO

Canada NewsWire

TORONTO, May 22, 2019

TORONTO, May 22, 2019 /CNW/ - Newstrike Brands Ltd. (TSX-V:HIP) ("Newstrike" or the "Company") today announced that it has obtained a final court order from the Ontario Superior Court of Justice approving the previously announced plan of arrangement under the Business Corporations Act (Ontario), in which HEXO Corp. ("HEXO") (TSX: HEXO; NYSE-A: HEXO) will acquire all of Newstrike's issued and outstanding common shares by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement").

Receipt of the final order follows the annual and special meeting of shareholders of Newstrike held on May 17, 2019, where shareholders approved the Arrangement by a special resolution.

Pursuant to the Arrangement, holders of common shares of Newstrike will receive 0.06332 shares of HEXO for each common share of Newstrike held. Closing of the Arrangement remains subject to the satisfaction (or waiver) of other customary closing conditions, including final approval by the TSX Venture Exchange. Subject to satisfaction of these closing conditions, it is anticipated that the Arrangement will be completed on or around May 24, 2019