Aurora Cannabis (TSX:ACB; OTCQX:ACBFF) and Hempco Food and Fiber (TSXV:HEMP) announce that disinterested shareholders of Hempco have resolved, at a meeting of shareholders, to approve the proposed investment by Aurora in Hempco.
As quoted in the press release:
The proposed investment by Aurora in Hempco by way of private placement, as well as approved the option whereby Aurora has the right to buy from two of Hempco’s principal shareholders, additional shares that, if fully exercised and on a fully diluted basis, combined with the private placement shares, would bring Aurora`s ownership of Hempco to in excess of 50%. Details of the investments have been described in detail in a press release dated September 18, 2017 and has been filed on www.sedar.com.
“We are very pleased that Hempco shareholders have resolved to approve our proposed investment,” said Terry Booth, CEO. “Having received approval Hempco now will have additional funds to complete its Nisku facility and aggressively pursue growth. For us the partnership brings product diversification, as well as, subject to anticipated regulation changes, a low-cost source of raw CBD material for extraction through our partnership with Radient Technologies Inc.”