MISSISSAUGA, ON, Canada — Aegis Brands Inc. today announced that the proposed sale of substantially all of the assets comprising its specialty coffee brand “Second Cup Coffee Co.” to an affiliate of Montréal-based Foodtastic Inc. (the “Transaction”) was overwhelmingly approved by common shareholders at the Company’s special meeting held virtually on April 7, 2021 (the “Meeting”).
The special resolution approving the Transaction was approved by the affirmative vote of 99.62% of the votes represented at the Meeting.
The Transaction remains subject to the satisfaction or waiver of a number of conditions, including but not limited to the receipt of certain third-party consents, and is expected to close in April 2021.
The Company’s full report of voting results on the special resolution is available on SEDAR at www.sedar.com.
About Aegis Brands Inc.
Founded in 1975, Aegis Brands Inc., formerly The Second Cup Ltd., is a Canadian specialty coffee retailer operating franchised and company-owned cafés across Canada. In November 2019, the Company announced its intention to implement a new operating structure in support of its new strategy.
The Company now owns and operates the existing Second Cup Coffee Co. specialty coffee business as part of a portfolio of brands that also includes Bridgehead and Hemisphere Cannabis Co. For more information, please visit www.aegisbrands.ca or find the Company on Facebook and Twitter.