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Westleaf and We Grow Announce Filing of Information Circular, Estimated Closing Date, Consent from Debentureholders and Amendment to the Arrangement Agreement
Westleaf and We Grow Announce Filing of Information Circular, Estimated Closing Date, Cons...
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[{"type":"text","content":"\n\n\n\nWestleaf and We Grow Announce Filing of Information Circular, Estimated Closing Date, Consent from Debentureholders and Amendment to the Arrangement Agreement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 21, 2019\n\n\n\nCALGARY, Nov. 21, 2019 /CNW/ - Westleaf Inc. (the \"Company\" or \"Westleaf\") (TSX-V:WL) (OTCQB:WSLFF) announces that it has filed a Joint Information Circular with respect to its proposed December 18, 2019 Westleaf Shareholder Meeting in connection with its previously announced Arrangement with We Grow BC Ltd. (\"We Grow\") and certain securityholders thereof and has obtained approval of the Arrangement from holders of more than 662/3% of the principal amount of Westleaf Debentures. Westleaf also announces that Westleaf and We Grow have agreed to amend certain terms of the previously announced Arrangement Agreement between Westleaf and We Grow. It is anticipated that the Arrangement will close on or about December 20, 2019. A Transaction Presentation is now available on Westleaf's website.\n\n \n \n\n \nAmending Agreement\nWestleaf announces that Westleaf and We Grow have executed an agreement (the \"Amending Agreement\") to amend the terms of the previously announced definitive agreement (the \"Arrangement Agreement\") between Westleaf and We Grow, whereunder the previously announced plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia) between Westleaf, We Grow and certain securityholders of WGBC (the \"Arrangement\") will be affected. \nUnder the terms of the Amending Agreement, conditions with respect to the private placement financing of subscription receipts of We Grow to be completed prior to or concurrently with closing of the Arrangement (the \"We Grow Financing\") have been amended to remove any required minimum raise under the We Grow Financing.\nDebentureholder Consent\nWestleaf has also received consent, in writing, from holders of more than 662/3% of the principal amount of previously issued and outstanding debentures of Westleaf (the \"Westleaf D...