Are they begging ?
Votes already cast point to support for both the Authorized Shares Proposal and the Governance Proposals
Tilray urges stockholders to vote immediately in support of long-term value creation
NEW YORK & LEAMINGTON, Ontario–(BUSINESS WIRE)–Aug. 19, 2021– Tilray, Inc. (“Tilray” or the “Company”) (NASDAQ | TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today convened and then adjourned the Special Meeting of Stockholders intended to approve two shareholder proposals:
(1) a proposal to increase the authorized number of shares of common stock (“Authorized Shares Proposal”); and
(2) a number of governance enhancements to increase stockholder rights (the “Governance Proposals”). The Special Meeting was adjourned to September 10, 2021, at 11:00 a.m. Eastern Time.
Based on a preliminary assessment of votes received by the Company’s proxy solicitor, the majority of votes cast to date support both the Authorized Shares Proposal and the Governance Proposals. The adjournment of the Special Meeting is intended to provide Tilray with additional time to solicit proxies and to give Tilray shareholders additional time to consider information relevant to Proposal 1, including the announcement of Tilray’s strategic investment in MedMen convertible notes and the importance of Proposal 1 in enabling Tilray to optimize the execution of that transaction.
Irwin D. Simon, Tilray’s Chairman and CEO said, “We urge stockholders who have not yet voted to participate in the success of their investment in Tilray by voting FOR all proposals on the agenda for the Special Meeting. By doing so, stockholders will be actively supporting Tilray’s ability to pursue and optimize growth opportunities, including our game-changing investment in MedMen convertible notes, expand and generate strong performance, increase stockholder rights and, ultimately, drive stockholder value. No matter how many or how few shares you own, your participation will enable us to maximize our potential to create value for our stockholders in the near-term and in the future.”
The approval of the Authorized Shares Proposal requires the affirmative vote of holders of at least a majority of the voting power of shares outstanding and entitled to vote. The record date for the adjourned Special Meeting remains June 22, 2021. Stockholders who have already voted do not need to recast their votes unless they wish to change their vote. Stockholders who have not already voted or wish to change their vote are strongly encouraged to do so promptly using the instructions provided in their voting instruction form or proxy card.
Also, see
MedMen to Raise $100 Million Selling Units at $0.24
MedMen Announces Backstopped US$100M Equity Investment Led by Serruya Private Equity to Fund Expansion and Transform Balance Sheet
LOS ANGELES, August 17, 2021–(BUSINESS WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a premier U.S. cannabis retailer, today announced that investors, led by Serruya Private Equity (“SPE”), are purchasing US$100 million of units (“Units”) of Medmen at a purchase price of US$0.24 (C$0.32) per Unit (the “Private Placement”). Certain investors associated with SPE agreed to backstop the US$100 million to be raised in the Private Placement (the “Backstop Commitment”).
The US$100 million in proceeds from the Private Placement will allow MedMen to expand its operations in key markets such as California, Florida, Illinois and Massachusetts and identify and accelerate further growth opportunities across the United States.
