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BRIEF-Supreme Cannabis To Acquire Premium Wellness Cannabis Company Blissco

Published 2019-05-16, 08:34 a/m
Updated 2019-05-16, 08:40 a/m
© Reuters.  BRIEF-Supreme Cannabis To Acquire Premium Wellness Cannabis Company Blissco

May 16 (Reuters) - The Supreme Cannabis Company Inc FIRE.TO , BlissCo Cannabis Corp BLIS.CD :

* SUPREME CANNABIS TO ACQUIRE PREMIUM WELLNESS CANNABIS COMPANY BLISSCO

* SUPREME CANNABIS COMPANY INC - ACQUISITION VALUED AT APPROXIMATELY C$48 MILLION.

* SUPREME CANNABIS COMPANY INC - SUPREME CANNABIS SECURED SUPPORT FROM SHAREHOLDERS OF BLISSCO REPRESENTING ABOUT 52%, INCLUDING CEO DAMIAN KETTLEWELL

* SUPREME CANNABIS COMPANY INC - SHARE-BASED ACQUISITION ALLOWS BLISSCO SHAREHOLDERS TO CONTINUE TO PARTICIPATE IN UPSIDE OF COMBINED COMPANIES

* SUPREME CANNABIS COMPANY INC - EACH BLISSCO SHARE WILL BE EXCHANGED FOR 0.24 OF A COMMON SHARE OF SUPREME CANNABIS

* SUPREME CANNABIS - ARRANGEMENT UNANIMOUSLY APPROVED BY BOTH CO'S BOARDS , AND BY SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS OF BLISSCO

* SUPREME CANNABIS COMPANY - UPON CLOSING, BLISSCO'S CEO, DAMIAN KETTLEWELL WILL CONTINUE TO LEAD BLISSCO

* SUPREME CANNABIS - KETTLEWELL HAS COMMITTED TO REMAINING EMPLOYED AT SUPREME CANNABIS, RETAINING AT LEAST 75% OF HIS SHARES FOR A MINIMUM OF 2 YEARS

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