Emerald Health Therapeutics Inc. - Director & Chairman, Jim Heppell.
Director & Chairman, Jim Heppell.
Source: Emerald Health Therapeutics Inc.
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  • Emerald Health Therapeutics Inc. (EMH) announced its shareholders’ approval supporting the proposed plan of arrangement with Skye Bioscience Inc.
  • The plan was approved by 87.07 per cent of votes cast by shareholders
  • Its next step is to seek a final order from the Supreme Court of British Columbia to approve the arrangement
  • The merger is expected to close sometime in October or November
  • Also, Emerald Health stated it has completed the wind-down of its cannabis operations
  • Emerald Health Therapeutics Inc. (EMH) is up 12.50 per cent and is trading at $0.04 per share as of 2:22 p.m. ET

Emerald Health Therapeutics (EMH), has received shareholders’ approval for the proposed plan of arrangement with Skye Bioscience Inc.

The plan of arrangement was approved by 87.07 per cent of the votes cast. One resolution also received the majority of the minority approval, excluding interested parties under applicable law.

“I want to thank Emerald Health Therapeutics’ shareholders for their strong voting participation and their clear support of the proposal to merge with Skye Bioscience… [the company] excited about this business opportunity and the potential of Skye’s initial drug candidate to treat patients suffering from primary open angle glaucoma, the most common form of glaucoma,” Jim Heppell, Chairman of Emerald, said.

Emerald Health’s shareholders also re-elected Heppell, Punit Dhillon and Bobby Rai as directors of the company and approved MNP LLP as an auditor.

The company’s next step is to seek a final order from the Supreme Court of British Columbia to approve the arrangement. The merger is expected to close sometime in October or November.

In other news, Emerald Health stated it has completed the wind-down of its cannabis operations and is continuing efforts to exit remaining leases and to find a purchaser for its Quebec production facility.

Emerald Health Therapeutics Inc. (EMH) is up 12.50 per cent and is trading at $0.04 per share as of 2:22 p.m. ET.


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