Closing of the Business Combination will require consent from U.S. federal antitrust regulators, final court approval of the Plan of Arrangement, and final approval by the CSE
Vancouver, BC, April 26, 2019 – Cannex Capital Holdings Inc. (CSE: CNNX)(OTCQX: CNXXF) (“Cannex” or the “Company”) is pleased to announce that securityholders of Cannex have voted overwhelmingly in favour of the business combination (the “Transaction”) with 4Front Holdings, LLC (“4Front”) at a special meeting of securityholders (the “Meeting”) of Cannex held on April 18, 2019. Additional information on the Transaction can be found in the management information circular of Cannex dated March 19, 2019, which is available under Cannex’s SEDAR profile at www.sedar.com.
The Transaction, whereby the former securityholders of Cannex and 4Front will become securityholders in the combined company (the “Resulting Issuer”), was approved by 99.97% of holders of common shares of Cannex, 100% of holders of Class A convertible restricted voting shares of Cannex and 100% of the holders of senior convertible notes of Cannex who voted at the Meeting. Cannex will post the voting results under its SEDAR profile.
“We have cleared significant hurdles associated with our business combination with 4Front. Even though the voting agreements had us confident in the outcome of the shareholder vote, 99.97% is a great confirmation on the merits of our merger and its terms for Cannex shareholders,” said Anthony Dutton, CEO of Cannex.
CSE Grants Conditional Approval and to Lift Halt on Stock
The Company is also pleased to announce that the Canadian Securities Exchange (the “CSE”) has conditionally approved the resulting issuer for listing, and will lift the trading halt on April 29th, 2019. Trading will continue as Cannex until the transaction has been completed, at which time the CSE will issue a bulletin announcing the listing of 4Front Ventures Corp.
For further information and a full update on the business combination with 4Front please read the full press release here