Bluma Wellness Inc. is pleased to announce that the Company has obtained a final order of the Supreme Court of British Columbia approving the previously announced acquisition of the Company by Cresco Labs Inc., by way of a plan of arrangement under the Business Corporations Act.
If the Arrangement is completed, Cresco will, among other things, acquire all of the issued and outstanding common shares in the capital of the Company, in exchange for which holders of Bluma Shares will receive 0.0859 of a subordinate voting share of Cresco for each Bluma Share held, subject to adjustment in accordance with the terms of the Arrangement.
The Arrangement was approved by the Bluma Shareholders at the special meeting of Bluma Shareholders held on March 19, 2021. The completion of the Arrangement remains subject to a number of conditions, including but not limited to the receipt of regulatory approval of the Florida Department of Health Office of Medical Marijuana Use.
