-- Jushi Holdings (JUSH.CN) intends to seek shareholder approval of a proposed arrangement which involves, among other things, the continuance of the company out from the province of British Columbia, Canada and the concurrent domestication of the company in the State of Nevada in the United States, it said Friday.
Each issued and outstanding subordinate voting share of the British Columbia-formed Jushi, upon completion of the continuance, among other things, will be deemed to represent one share of the common stock of the Nevada-continued Jushi. Each outstanding option or warrant to purchase subordinate voting shares will be automatically adjusted to become, respectively, one outstanding option or warrant to purchase an equal number of Nevada common stock, in each case on the same terms and conditions set forth in the applicable option or warrant, it said.
The arrangement is not expected to cause any material change in the company's business or operations. Jushi expects the Nevada common stock to be listed for trading on the Canadian Securities Exchange and quoted on the OTCQX in place of the subordinate voting shares and the trading symbols to remain the same after the completion of the arrangement.
Shares of the company were last seen unchanged at $0.69 on the Canadian Securities Exchange.