Acreage Announces Amendment of Warrant Terms

NEW YORK, Aug. 17, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage” or “Company”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) today announces its intention to amend the term and exercise price of the 6,085,192 Class A subordinate voting share purchase warrants (the “Warrants”) issued as part of the Company’s private placement which closed on February 10, 2020.
Under the current terms, each Warrant can be exercised to acquire one Class A subordinate voting share of Acreage (each, a “Warrant Share”) until 4:00 p.m. on February 10, 2025 at an exercise price of US$5.80 per Warrant Share. Subject to all conditions to the Amended Arrangement (as hereinafter defined) being satisfied (to the extent capable of being satisfied at the relevant time), the Company intends to modify the exercise price of the Warrants to US$4.00 per Warrant Share immediately prior to the Amended Arrangement becoming effective. The expiry date, and all other terms of the warrants, will remain unchanged.In connection with the amendment of the terms of the Warrants, the holders of the Warrants have entered into voting support and lock-up agreements, pursuant to which they have agreed, among other things, to vote in favour of the ‎resolution to approve the implementation of the previously announced amended and restated plan of arrangement involving the Company and Canopy Growth Corporation (“Canopy Growth”) pursuant to the Business Corporations Act (British Columbia) (the “Amended Arrangement”)‎.ABOUT ACREAGE
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