Columbia Care Announces Approval Of Business Combination With Cresco Labs At Special Meeting Of Shareholders

Columbia Care Inc. CCHW CCHW CCHWF 3LP announced that the proposed business combination with Cresco Labs Inc. CL CRLBF was approved at its special shareholders' meeting.

Columbia Care Inc. shareholders voted in favor of a special resolution to approve the previously announced plan of arrangement under the Business Corporations Act (British Columbia) whereby, Cresco Labs will acquire all of the issued and outstanding shares of Columbia Care Inc described in a circular dated June 6, 2022, and filed on SEDAR and with the United States Securities and Exchange Commission.

“Overwhelming Columbia Care shareholder support with 98.5% of votes cast in favor of the business combination, 1.41% against and 0.04% abstain " reads in a press release.

A total of 169,938,646 Columbia Care Shares were represented in person or by proxy at the meeting - which means 42.6% of the Columbia Care Shares issued and outstanding as of the close of business on May 10, 2022, and entitled to vote at the meeting as of the record date.

“We are grateful for the overwhelming support of our shareholders as we move forward with the combination with Cresco Labs that will reshape the industry and redefine leadership in cannabis,” said Nicholas Vita, co-founder and CEO of Columbia Care. “As we celebrate this milestone, we remain steadfast in executing our strategic objectives through the close of the transaction, which we anticipate will be near the end of this year.”

The report of voting results for the meeting has been filed on SEDAR.
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