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TORONTO, March 18, 2019 /CNW/ – Cannabis Strategies Acquisition Corp. (NEO: CSA.A, CSA.WT, CSA.RT) (“CSA“) is pleased to announce that its shareholders have overwhelmingly approved its qualifying transaction to concurrently acquire the target businesses of Washoe Wellness, LLC, The Canopy NV, LLC, Sira Naturals, Inc., LivFree Wellness, LLC and CannaPunch of Nevada LLC (collectively, the “Qualifying Transaction“) at its special meeting of shareholders held on March 18, 2019. Over 99.9% of the votes cast by CSA’s shareholders were in favour of the Qualifying Transaction, the amendment of CSA’s articles (including the creation of the multiple voting shares and subordinate voting shares of CSA), and the continuance of CSA from Ontario to British Columbia, and over 93.4% of the votes cast were in favour of CSA’s proposed equity incentive plan, in each case, as further described in CSA’s management information circular dated February 19, 2019, which is available on SEDAR at www.sedar.com under CSA’s profile.
A copy of the complete report on voting at the shareholders’ meeting will be made available under CSA’s profile on SEDAR at www.sedar.com.
CSA is further pleased to announce funding certainty for its Qualifying Transaction, as only 1,000 Class A Restricted Voting shares of CSA (“Class A Restricted Voting Shares“) of the total 13,475,000 Class A Restricted Voting Shares issued and outstanding have been elected for redemption, representing a mere 0.0074% of the Class A Restricted Voting Shares.
CSA Chairman and CEO Jonathan Sandelman commented: “We are excited to reach this milestone for CSA, our operating partners and our investors. Today’s vote represents overwhelming support from our shareholders, over 99.9% of whom voted in favor of the transaction. These votes in favor, as well as the over 99.9% of investors who chose to retain their shares in the company rather than redeem, are a strong