SASKATOON, Saskatchewan--(BUSINESS WIRE)--CanniMed Therapeutics Inc. (“CanniMed” or the “Company”) (TSX:CMED) today announced that it has been notified by the Toronto Stock Exchange (the "TSX") that the TSX will, in accordance with the practice of the TSX in connection with similar rights plans, defer consideration of the acceptance of the Company's previously announced Shareholder Rights Plan (the "Rights Plan") until such time as (i) the TSX is satisfied that the Ontario Securities Commission will not intervene pursuant to National Policy 62-202 - Take-Over Bids - Defensive Tactics, and (ii) the Rights Plan has been ratified by shareholders by May 28, 2018.
Even though the TSX has deferred its review of the Rights Plan, the Rights Plan remains in effect. The TSX normally defers acceptance of shareholder rights plans adopted in response to a specific take-over bid. The Rights Plan was adopted on November 28, 2017 following the announcement of an unsolicited hostile bid (the “Hostile Bid”) by Aurora Cannabis Inc. for all the common shares of CanniMed.
A full copy of the Rights Plan is available at www.sedar.com
Shareholders with questions about the Rights Plan or other matters relating to their CanniMed shares and the Hostile bid are encouraged to call Kingsdale Advisors, the Company’s strategic shareholder and communications advisor, at 1-888-518-1554 or email@example.com.
About CanniMed Therapeutics Inc.
CanniMed is a Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry, with 16 years of pharmaceutical cannabis cultivation experience, state-of-the-art, GMP-compliant production process and world class research and development platforms with a wide range of pharmaceutical-grade cannabis products. In addition, the Company has an active plant biotechnology research and product development program focused on the production of plant-based materials for pharmaceutical, agricultural and environmental applications.
The Company, through its subsidiaries, was the first producer to be licensed under the Marihuana for Medical Purposes Regulations, the predecessor to the current Access to Cannabis for Medical Purposes Regulations. It was the sole supplier to Health Canada under the former medical marijuana system for 13 years, and has been producing safe and consistent medical marijuana for thousands of Canadian patients, with no incident of product diversion or recalls.
For more information, please visit our websites: www.cannimed.ca (patients) and www.cannimedtherapeutics.com (investors).