{"id":411779,"date":"2021-01-11T07:33:15","date_gmt":"2021-01-11T12:33:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411779"},"modified":"2021-01-11T07:33:15","modified_gmt":"2021-01-11T12:33:15","slug":"acreage-holdings-adds-katie-j-bayne-as-board-member","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/acreage-holdings-adds-katie-j-bayne-as-board-member\/","title":{"rendered":"Acreage Holdings Adds Katie J. Bayne As Board Member"},"content":{"rendered":"
\n

NEW YORK, Jan. 11, 2021 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (\u201cAcreage\u201d or \u201cCompany\u201d) (CSE: ACRG.A.U, ACRG.B.U), (OTC: ACRHF, ACRDF) announced today that Katie Bayne has been appointed to the Company\u2019s Board of Directors.<\/p>\n

Ms. Bayne brings more than 30 years of consumer marketing and operations experience to her new position on the Board of Directors, including over two decades at The Coca-Cola Company, where she served as President of North America Brands and Chief Marketing Officer for North America. The Founder and President of strategic consulting and advisory firm Bayne Advisors, Ms. Bayne also serves as a Senior Advisor at Guggenheim Securities, and sits on the Board of Directors of Jessica Alba\u2019s purpose-driven lifestyle brand, The Honest Company. She brings over a decade of public Board experience in varied industries, including retail.<\/p>\n

\u201cAchieving long-term success will require Acreage to continue building and nurturing a house of brands that has mass appeal,\u201d said Acreage CEO Peter Caldini. \u201cKatie\u2019s exceptional background includes her stewardship of iconic U.S. brands and I look forward to the valuable insights she will provide to help take Acreage to the next level on our journey to achieving a true leadership position in this emerging market.\u201d<\/p>\n

\u201cKatie is an outstanding addition to Acreage\u2019s Board of Directors,\u201d said Kevin Murphy, Acreage\u2019s Chairman and founder. \u201cOn the heels of announcing our new CEO, Acreage\u2019s future growth will be driven by senior leaders with extensive experience in operations, brand-building, and a proven ability to drive sustainable, long-term growth.\u201d<\/p>\n

\u201cI have watched the upward trajectory of the U.S. cannabis industry with great interest the past few years,\u201d said Katie Bayne. \u201cI have come to understand the undeniable health and wellness benefits of the plant. As more states legalize cannabis and the addressable market continues to grow exponentially, I am excited for the opportunity to help shape Acreage\u2019s strategy and direction at this crucial juncture.\u201d<\/p>\n

Ms. Bayne earned her MBA and undergraduate degrees at Duke University, where she continues to serve as a member of the Board of Visitors for the Fuqua Business School. She also serves on the Executive Board at the Cox School of Business at SMU. She is the sixth member of the Acreage Board of Directors, and will be a member of the Audit Committee.<\/p>\n

\n ABOUT ACREAGE HOLDINGS, INC.<\/strong>\n <\/p>\n

Headquartered in New York City, Acreage is a multi-state operator of cannabis \u200ecultivation and retailing facilities in the U.S., including the company\u2019s national retail store \u200ebrand, The Botanist<\/em>. Acreage\u2019s wide range of national and regionally available cannabis products include the award-winning The Botanist<\/em> brand, the highly recognizable Tweed<\/em> brand, the Prime<\/em> medical brand in Pennsylvania, the Innocent<\/em> edibles brand in Illinois and others. Acreage also owns Universal Hemp, LLC, a hemp subsidiary dedicated to the distribution, marketing and sale of CBD products throughout the U.S. Since its founding in 2011, Acreage has focused on building and scaling operations to create a \u200eseamless, consumer-focused, branded experience. More information is available at www.acreageholdings.com<\/a>.<\/p>\n

On June 27, 2019, Acreage implemented an arrangement under section 288 of the Business Corporations \u200eAct (British Columbia) with Canopy Growth Corporation (\u201cCanopy Growth\u201d), which was subsequently amended on September 23, 2020 (the \u201cAmended Arrangement\u201d)\u200e. Pursuant to the Amended Arrangement, \u200eupon \u200ethe occurrence (or waiver by Canopy Growth) of changes in federal laws in the United States to permit the general cultivation, distribution and possession of marijuana (as defined in the relevant legislation) or to remove the regulation of such activities from the federal laws of the United States (the \u201cTriggering Event\u201d), Canopy Growth will, subject to the \u200esatisfaction or waiver of certain closing conditions, acquire \u200eall of the issued and outstanding Class E subordinate voting shares (the \u201cFixed Shares\u201d) on the basis of 0.3048 of a Canopy Growth share per \u200eFixed Share (following the automatic conversion of the Class F multiple voting shares and subject to adjustment \u200ein accordance with the terms of the arrangement agreement entered into between Acreage and Canopy Growth on April 18, 2019, as amended on May 15, 2019 and on September 23, 2020).<\/p>\n

In addition, Canopy Growth holds an option, exercisable at the discretion of Canopy Growth, to acquire all of the \u200eissued and outstanding Class D subordinate voting shares (the \u201cFloating Shares\u201d) at the time that Canopy Growth acquires the Fixed Shares, for \u200ecash or Canopy Growth shares, as Canopy Growth may determine, at a price per Floating Share based \u200eupon the 30-day volume-weighted average trading price of the Floating Shares on the CSE relative to the trading price of the Canopy Growth shares at the time of the \u200eoccurrence or waiver of the Triggering Event, subject to a minimum price of US$6.41 per Floating Share.<\/p>\n

For more information about the Amended Arrangement please see the Acreage proxy statement and management information circular dated August 17, 2020 (the \u201cCircular\u201d) and the respective \u200einformation circulars of each of Acreage and Canopy Growth dated May 17, 2019, which are available on \u200eAcreage\u2019s and Canopy Growth\u2019s respective profiles on SEDAR at www.sedar.com and filed with the SEC on the EDGAR website at www.sec.gov. For additional information regarding \u200eCanopy Growth, please see Canopy Growth\u2019s profile on SEDAR at www.sedar.com.<\/p>\n

\n FORWARD LOOKING STATEMENTS<\/strong>\n <\/p>\n

This news release and each of the documents referred to herein contains \u201cforward-looking information\u201d and \u200e\u200e\u201cforward-looking statements\u201d within the meaning of applicable Canadian and United States securities legislation, \u200erespectively. All statements, other than statements of historical fact, included herein are forward-looking \u200einformation, including, for greater certainty, statements regarding the Amended Arrangement, including the likelihood of completion thereof, the \u200eoccurrence or waiver of the Triggering Event, the satisfaction or waiver of the closing conditions set out in the Arrangement Agreement and other statements with respect to the proposed transactions with Canopy Growth. \u200eOften, but not always, forward-looking statements and information can be identified by the use of words such as \u200e\u200e\u201cplans\u201d, \u201cexpects\u201d or \u201cdoes not expect\u201d, \u201cis expected\u201d, \u201cestimates\u201d, \u201cintends\u201d, \u201canticipates\u201d or \u201cdoes not anticipate\u201d, \u200eor \u201cbelieves\u201d, or variations of such words and phrases or state that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d, \u200e\u200e\u200e\u201cwould\u201d, \u201cmight\u201d or \u201cwill\u201d be taken, occur or be achieved. \u200e<\/p>\n

Forward-looking statements or information involve known and unknown risks, uncertainties and other \u200efactors which may cause the actual results, performance or achievements of Acreage or its \u200esubsidiaries to be materially different from any future results, performance or achievements expressed or \u200eimplied by the forward-looking statements or information contained in this news release. Risks, uncertainties and other factors involved with forward-looking \u200einformation could cause actual events, results, performance, prospects and opportunities to differ \u200ematerially from those expressed or implied by such forward-looking information, including, but not \u200elimited to financing and liquidity risks, and the risks disclosed in the Circular, Acreage\u2019s \u200emanagement information circular dated May 17, 2019 filed on May 23, 2019, Acreage\u2019s annual report on Form 10-K for the year ended \u200eDecember 31, 2019 \u200edated May 29, 2020 and the amendment thereto on Form 10-K\/A \u200edated August 14, 2020, and Acreage\u2019s other public filings, in each case filed with the SEC on the EDGAR website at www.sec.gov and with \u200eCanadian securities regulators \u200eand available on the issuer profile of Acreage on SEDAR at www.sedar.com. Although Acreage has attempted to identify \u200eimportant factors that could cause actual results to differ materially from those contained in forward-looking \u200einformation, there may be other factors that cause results not to be as anticipated, estimated or intended. \u200e<\/p>\n

Although Acreage believes that the \u200eassumptions and factors used in preparing the forward-looking information or forward-looking \u200estatements in this news release are reasonable, undue reliance should not be placed on such information \u200eand no assurance can be given that such events will occur in the disclosed time frames or at all. The \u200eforward-looking information and forward-looking statements included in this news release are made as of \u200ethe date of this news release and Acreage does not undertake any obligation to publicly update such \u200eforward-looking information or forward-looking statements to reflect new information, subsequent events \u200eor otherwise unless required by applicable securities laws.<\/p>\n

Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed and does not accept \u200eresponsibility for the adequacy or accuracy of the content of this news release.\u200e<\/p>\n\n\n\n\n\n\n
\n Media Contact:<\/strong>\n <\/td>\n\n Investor Contact:<\/strong>\n <\/td>\n<\/tr>\n
Howard Schacter<\/td>\nSteve West<\/td>\n<\/tr>\n
Vice President of Communications<\/td>\nVice President, Investor Relations<\/td>\n<\/tr>\n
h.schacter@acreageholdings.com<\/td>\ninvestors@acreageholdings.com<\/td>\n<\/tr>\n
917-893-5300<\/td>\n917-893-5300<\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Jan. 11, 2021 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (\u201cAcreage\u201d or \u201cCompany\u201d) (CSE: ACRG.A.U, ACRG.B.U), (OTC: ACRHF, ACRDF) announced today that Katie Bayne has been appointed to the Company\u2019s Board of Directors. Ms. Bayne brings more than 30 years of consumer marketing and operations experience to her new position on the Board of Directors, including over two decades at The Coca-Cola Company, where she served as President of North America Brands and Chief Marketing Officer for North America. The Founder and President of strategic consulting and advisory firm Bayne Advisors, Ms. Bayne also serves as a Senior Advisor at Guggenheim Securities, and sits on the Board of Directors of Jessica Alba\u2019s purpose-driven lifestyle brand, The Honest Company. She … <\/p>\n

Continue reading “Acreage Holdings Adds Katie J. Bayne As Board Member”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-411779","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAcreage Holdings Adds Katie J. Bayne As Board Member - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/acreage-holdings-adds-katie-j-bayne-as-board-member\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acreage Holdings Adds Katie J. 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