Media

Good to see something in the media, Even if not MSM it's still nice to see.

http://www.*.com.au/companies/news/...or-medicinal-cannabis-play-auscann-71301.html



TW Holdings Ltd to make takeover bid for medicinal cannabis play, AusCann

Friday, September 30, 2016 by Proactive Investors

http://www.*.com.au/genera//img/companies/news/acquisition_4_358_57ede5e919727.jpg
TW Holdings Ltd (ASX:TWH) will make a conditional off-market takeover bid for 100% of the shares in AusCann Group Holdings Ltd.

The bid is part of its strategy to acquire 100% of AusCann as indicated to the market in May 2016.

AusCann aims to bring the cultivation and manufacture of high value medicinal cannabis products into Australia.

TW Holdings will offer 1 ordinary share and 0.1924 performance shares for each AusCann share on issue.

A shareholder meeting to approve the change in the nature of TWH activities is scheduled for 31 October 2016.

A prospectus to raise up to $5 million will be lodged in early October 2016.


Indicative timetable

- 29 September: Lodge notice of General Meeting with ASX and despatch to shareholders;
- 3 October (week commencing): Lodge prospectus with ASIC and ASX and open public offer;
- 3 October (week commencing): Lodge bidder’s statement with ASIC and despatch;
- 12 October: Despatch of AusCann Target Statement;
- 31 October: Suspension of TWH securities from trading on ASX at opening of trading;
- 31 October: Hold General Meeting;
- Early November: Public offer closes;
- Mid November: Completion of proposed acquisition and issue of shares; and
- Late November: TW Holdings to re-list as AusCann Group Holdings Limited.


AusCann Group Holdings Ltd

AusCann was established in 2014 to bring world’s best practice into Australia for the cultivation and manufacture of high value medicinal cannabis products.

It’s founding shareholders and directors comprise a group of high profile and seasoned executives with backgrounds in government, medicine, law enforcement, bio-pharmaceuticals and capital markets.

The company’s approach is to build strong and long-lasting partnerships and collaborations with leading groups across the globe to ensure that AusCann remains at the forefront of the continually evolving medical cannabis landscape in Australia.   

These collaborations include partnerships with European breeding companies, leading universities in Australia, clinical stage biotech companies and US-based groups dealing direct with patients and with a deep understanding of treatment regimes including dosing and protocols.  


AusCann board recommends bid

TW Holdings has been informed by the AusCann board of directors that:

- subject to TWH shareholders approving all relevant resolutions at the General Meeting; and  
- in the absence of a superior proposal for AusCann,  

they will unanimously recommend that AusCann shareholders accept the offer.

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