NEW YORK, Sept. 09, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) is pleased to announce that Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”), leading independent proxy advisory firms, have each recommended that Acreage shareholders vote “FOR” the resolution (the “Amendment Resolution”) to approve, among other things, the Amended Arrangement (as defined below) at Acreage’s special meeting of shareholders (the “Meeting”) on Wednesday, September 16, 2020.
In reaching its recommendation, ISS stated the following:
“The proposed amended arrangement with Canopy Growth appears to offer shareholders the best path forward. The amended arrangement with Canopy Growth will provide [a subsidiary of] the company with additional funding, an up-front cash payment to shareholders, and additional optionality that the newly-created share classes may be acquired at a significant premium to the unaffected share price.”
The recommendation from ISS follows the report from Glass Lewis, who also recommended that shareholders vote