ICC Labs announced at its special meeting of shareholders, investors of the company overwhelmingly voted in favour of a special resolution for an acquisition offer from Aurora Cannabis.
ICC Labs (TSXV:ICC) announced at its special meeting of shareholders, investors of the company overwhelmingly voted in favour of a special resolution for an acquisition offer from Aurora Cannabis (NYSE:ACB,TSX:ACB).
As quoted in the press release:
Subject to the terms and conditions of an arrangement agreement (the Arrangement Agreement) between ICC and Aurora dated September 8, 2018, Aurora will acquire all of the issued and outstanding common shares of ICC (ICC Shares). Obtaining approval from ICC Shareholders is one of the conditions to completing the Arrangement.
The Arrangement Resolution required approval by at least two-thirds of the votes cast by ICC Shareholders present in person or represented by proxy at the Meeting. The Arrangement Resolution was approved by approximately 98.74 [percent] of the votes cast by all of the ICC Shareholders eligible to vote at the Meeting.
It is expected that ICC will apply for a final order of the Supreme Court of British Columbia on November 8, 2018. Completion of the Arrangement remains subject to other customary closing conditions, including the aforementioned court order and the receipt of certain Uruguayan regulatory approvals. Assuming that the conditions to closing are satisfied or waived, it is expected that the Arrangement will be completed in the fourth quarter of 2018.