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Curaleaf Shareholders Approve Move to Delaware and Share Capital Changes

Curaleaf Holdings shareholders voted overwhelmingly on June 22 to relocate the company from British Columbia to Delaware. The move, part of a broader corporate restructuring, coincides with a significant amendment to the firm’s share capital and the approval of a new stock option exchange program for employees.

Curaleaf Shareholders Approve Move to Delaware and Share Capital Changes
Photo: Bio & News

The company secured support from 99.93% of voting shareholders for the plan of arrangement, which transitions the cannabis provider’s legal home to the United States. A final court hearing to validate the shift is set for June 25 at the Supreme Court of British Columbia. Alongside the relocation, shareholders signed off on an amendment to remove the automatic conversion feature of multiple voting shares, a change slated to take effect on June 23.

Management also received a mandate to launch an exchange program for over 10 million stock options, targeting those with exercise prices or performance conditions linked to a threshold of US$5.00. This program is expected to roll out on June 30. During the meeting, investors also re-elected all seven board nominees, including Boris Jordan and Michelle Bodner, who each maintained strong support levels exceeding 97%.

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