Bedrocan Announces Shareholder Approval of Plan of Arrangement with Tweed Marijuana Inc.

TORONTO , Aug. 24, 2015 /CNW/ - At a special meeting held today, shareholders of Bedrocan Cannabis Corp. (BED.V) ("the Company" or "Bedrocan") overwhelmingly approved the proposed plan of arrangement (the "Arrangement") involving the acquisition by Tweed Marijuana Inc. (TWD.V) ("TMI" or "Tweed") of all of the issued and outstanding common shares of Bedrocan. The Arrangement remains subject to the final approval of the Superior Court of Justice of Ontario at a hearing scheduled to be held on August 26, 2015 and subject to satisfaction or waiver of all other conditions specified in Bedrocan's management information circular dated July 20, 2015 . It is expected that the Arrangement will be completed on or about August 28, 2015 .

"The resounding approval of our shareholders, strongly validates our strategy of combining the complementary strengths of Tweed and Bedrocan, to create the clear market leader in Canadian cannabis," said Marc Wayne...

Rate this article: 

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.