GATINEAU, QC--(Marketwired - January 18, 2018) - The Hydropothecary Corporation ("THCX" or the "Company") (
Advance Notice By-Law
The purpose of the Advance Notice By-Law is to ensure that an orderly nomination process for directors of the Company is observed, that Shareholders are well-informed about the identity, intentions and credentials of director nominees and that Shareholders vote in an informed manner after having been afforded reasonable time for appropriate deliberation. The Advance Notice By-Law is effective as of the date it was approved by the Board of Directors, being December 7, 2017. In accordance with the policies of the TSX Venture Exchange (the "TSX-V"), the adoption of the Advance Notice By-law is subject to the receipt of TSX-V approval.
Shareholder Rights Plan
The Rights Plan is intended to protect the Company and its Shareholders from unfair, abusive, or coercive take-over bids or acquisition of control tactics and to provide the Board of Directors with adequate time to consider other alternatives to maximize shareholder value and to allow competitive bids to emerge. The Rights Plan will also help to ensure, to the extent possible, that all Shareholders are treated equally and fairly in connection with any take-over bid or similar proposal to acquire shares in the capital of the Company.
The Board of Directors has determined that it is in the best interest of the Company to implement the Rights Plan. The Rights Plan is effective as of December 8, 2017. In accordance with the policies of the TSX-V, the adoption of the Rights Plan is subject to the receipt of TSX-V approval.
For further details on the Advance Notice By-law and the Rights Plan, please refer to the Company's management information circular dated December 8, 2017, which is available on SEDAR at www.sedar.com.
About The Hydropothecary Corporation
The Hydropothecary Corporation is an authorized licensed producer and distributor of medical cannabis licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulations (Canada). Hydropothecary creates award-winning innovative, easy to use and easy to understand products. Hydropothecary is rapidly increasing its production capacity in the lead-up to recreational adult-use cannabis. Expansion plans will result in a total of 1.3 million sq. ft. of production space, producing 108,000 kg of dried cannabis per year, making Hydropothecary one of the largest producers in the country. With industry-leading cash cost per gram of $0.89, Hydropothecary is one of the lowest cost producers in the country. The first licensed producer in Quebec, the Company is headquartered in Quebec.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information based on current expectations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable securities legislation. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's Annual Information Form and continuous disclosure filings, which are available at www.sedar.com.