Daily Archives: April 18, 2019

WillScot to Participate at the Credit Suisse Extreme Services Conference

BALTIMORE, April 18, 2019 (GLOBE NEWSWIRE) — WillScot Corporation (“WillScot”) (NASDAQ: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that Brad Soultz, President and Chief Executive Officer, and Tim Boswell, Chief Financial Officer, will host a day of one-on-one and group meetings with investors at the Credit Suisse Extreme Services Conference to be held at Credit Suisse’s New York City office, on Tuesday, May 7, 2019.

About WillScot Corporation

Headquartered in Baltimore, Maryland, WillScot is the public holding company for the Williams Scotsman family of companies. WillScot trades on the Nasdaq stock exchange under the ticker symbol “WSC,” and is the specialty rental services market leader providing innovative modular space and portable storage solutions across North America. WillScot is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, WillScot serves a broad customer base from over 120 locations throughout the United States, Canada and Mexico, with a fleet of approximately 160,000 modular space and portable storage units.

Additional Information and Where to Find It

Additional information about WillScot can be found on its investor relations website: https://investors.willscot.com

Contact Information

Investor Inquiries:

Mark Barbalato

Media Inquiries:

Scott Junk

Constellation Brands Enters Into Agreement with Canopy Growth Corporation to Modify Warrants and Other Rights

VICTOR, N.Y., April 18, 2019 (GLOBE NEWSWIRE) — Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, today announced that it plans to enter into an agreement with Canopy Growth Corporation (“Canopy”) (TSX: WEED, NYSE: CGC), a leading diversified cannabis company, to modify certain warrants and other rights.  These changes are the result of Canopy’s intentions to acquire Acreage Holdings, Inc. (“Acreage”) upon U.S. Federal cannabis legalization.

Earlier today, Canopy announced (see Canopy press release “Canopy Growth Announces Option to Acquire Leading U.S. Multi-state Cannabis Operator, Acreage Holdings”) it has entered into an agreement with Acreage, a U.S. multi-state cannabis operator, where Canopy plans to acquire the shares of Acreage upon U.S. Federal cannabis legalization (the “Triggering Event”), subject to certain conditions.  This transaction, as well as proposed modifications to certain Constellation warrants, are subject to approval by Canopy shareholders. Constellation has agreed to waive its veto rights to this transaction subject to certain proposed modifications to the warrants and other conditions as outlined below:

In addition to the 18.9 million warrants associated with the November 2017 Canopy investment, Constellation also currently has 139.7 million warrants in Canopy, which upon shareholder approval would become exercisable over a period of five to eight years from November 1, 2018, compared to the previous three-year period.  This includes 88.5 million Tranche A warrants, which are exercisable at a price per share of C$50.40 and 51.2 million Tranche B warrants, of which 38.4 million, or 75 percent, are exercisable at a price per share of C$76.68.  The remaining 25 percent of the original Tranche B warrants will become Tranche C warrants and will be exercisable at Canopy’s five-day volume weighted average price of the common shares on the Toronto Stock Exchange (“VWAP”) immediately prior to exercise.  If Canopy exercises its right to acquire the shares of Acreage and Constellation were to exercise all of their outstanding Canopy warrants, Constellation’s ownership in Canopy is not expected to exceed 50 percent.
Current Warrants Revised Warrants
Expiry Date Shares Price Expiry Date Shares Price
Tranche A warrants Nov. 1, 2021 88.5 M C$50.40 Nov. 1, 2023 88.5 M C$50.40
Tranche B warrants Nov. 1, 2021 51.2 M VWAP (1) Nov. 1, 2026 38.4 M C$76.68 (2)
Tranche C warrants Nov. 1, 2026 12.8 M VWAP (1)
(1) Five-day VWAP of Canopy common shares on the Toronto Stock Exchange immediately prior to exercise
(2) 75 percent of original Tranche B warrants priced at Canopy stock 52-week high
If Constellation exercises Tranche A warrants in full, Canopy has committed to repurchase the lesser of 25 percent of its issued shares to Acreage or a dollar amount equal to 25 percent of the implied enterprise value of Acreage within 24 months of the date of Constellation’s warrant exercise.
Constellation would be permitted to purchase up to 20 million Canopy shares in the open market prior to the warrants being exercised or terminated, provided that for each share purchased by Constellation, the number of Tranche B warrants is decreased by one.
Constellation will continue to maintain its current level of representation on Canopy’s Board of Directors.

About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B), a Fortune 500® company, is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Mexico, New Zealand, Italy and Canada. Constellation is the No. 3 beer company in the U.S. with high-end, iconic imported beer brands such as the Corona and Modelo brand families and Pacifico. Its high-quality, wine and spirits brands include the Robert Mondavi and The Prisoner Wine Company brand families, Kim Crawford, Ruffino, Meiomi and SVEDKA Vodka. The company’s portfolio also includes a collection of highly-rated, wine brands such as SIMI and Mount Veeder Winery wine brands, High West Whiskey and Casa Noble Tequila, as well as new wine innovations such as Cooper & Thief and Spoken Barrel.

Based in Victor, N.Y., the company believes that industry leadership involves a commitment to brand building, our trade partners, the environment, our investors and to consumers around the world who choose our products when celebrating big moments or enjoying quiet ones. Since its founding in 1945, Constellation’s ability to see, meet and stay ahead of shifting consumer preferences and trends across total beverage alcohol has fueled our success and made us the No. 1 growth contributor in beverage alcohol in the U.S.

To learn more, follow us on Twitter @cbrands and visit www.cbrands.com.

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The word “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to business strategy, future operations, prospects, and plans and objectives of management, as well as information concerning future ownership levels in Canopy and expected actions of third parties, including but not limited to Canopy’s potential transaction with Acreage and Canopy’s potential repurchase of shares issuable in that potential transaction. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements.

The forward-looking statements are based on management’s current expectations and should not be construed in any manner as a guarantee that such results will in fact occur. All forward-looking statements speak only as of the date of this news release and Constellation Brands undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The proposed revision of the warrants held by certain Constellation subsidiaries in Canopy (the “Warrants Revision”) is subject to various conditions, including approval by Canopy shareholders.

Any transaction between Acreage and Canopy would also be subject to various conditions. There can be no assurance either that Canopy’s shareholders will approve the proposed Warrants Revision or the intended transaction with Acreage. There also can be no assurance that any transaction between Canopy and Acreage will occur or that the Triggering Event of Canopy’s intended transaction with Acreage will occur.

In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including the accuracy of all projections and other factors and uncertainties disclosed from time-to-time in the company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2018, as supplemented by the company’s Quarterly Report on Form 10-Q for the fiscal quarter ended August 31, 2018, which could cause actual future performance to differ from current expectations.

Mike McGrew 773-251-4934 michael.mcgrew@cbrands.com Patty Yahn-Urlaub 585-678-7483 patty.yahn-urlaub@cbrands.com
Amy Martin 585-678-7141 amy.martin@cbrands.com Bob Czudak 585-678-7170 bob.czudak@cbrands.com
Tom Conaway 585-678-7503 thomas.conaway@cbrands.com

A downloadable PDF copy of this news release enhanced with multimedia links can be found here: http://ml.globenewswire.com/Resource/Download/729bff5c-bca9-4a8a-90e1-5ff4c9ab8fb2

Expert cautions elections victory vouched by parties triggering chaos

Kupang, E Nusa Tenggara (ANTARA) – The claims of winning the presidential race by the Joko Widodo (Jokowi)-Ma’ruf Amin and Prabowo Subianto-Sandiaga Uno camps, Wednesday, have the potential to trigger chaos in society, Nusa Cendana University Communications Professor Alo Liliweri stated.

“Hence, there is a need to respond cautiously to these claims of victory,” Liliweri remarked during a conversation with ANTARA in Kupang on Thursday in connection with the victory claimed by the two camps of the presidential and vice presidential candidates.

Several members of the community might have trusted the credibility of the results of pollsters contending that the Jokowi-Amin pair’s electability surpassed that of the Subianto-Uno pair and of an exit poll and survey conducted by the Prabowo-Sandi camp.

The professor warned of a pandemonium possibly arising since the public is impelled by its perception on their beliefs.

The duo competing camps presently await the official results of real count by the General Elections Commission (KPU) that will be legally binding.

On Wednesday afternoon, Indonesia’s several television stations telecasted some pollsters suggesting a steady edge for the Jokowi-Amin pair, with their electability overriding that of the Subianto-Uno pair.

Speaking in response to this result, Coordinator of the Prabowo-Sandi pair’s National Winning Body’s spokespersons Dahnil Anzar Simanjuntak averred that an exit poll conducted by his camp indicated that the Prabowo-Sandi pair had pocketed 55.4 percent of the votes.

Responding to the results of several pollsters favoring the Jokowi-Amin pair’s performance, Subianto alleged that several pollsters were attempting to steer the public opinion.

Presidential candidate number 02 Subianto has appealed to his loyalists and volunteers to maintain their composure and secure the ballot boxes.

“Please stay focused on safeguarding all ballot boxes, as the votes are instrumental in fighting all forms of deceit,” he reiterated.

The truth will soon come to light, but West Sumatra Governor Irwan Prayitno has called on the people to maintain peace and national unity.

Prayitno has called on every party and community member to enthusiastically welcome the presidential and vice presidential candidate pair that wins Wednesday’s presidential elections, as the duo will take Indonesia forward.

He also put forth an appeal to loyalists and supporters of the Joko Widodo-Ma’ruf Amin and Prabowo Subianto-Sandiaga Uno pairs to forget past offences or causes of conflict during this election process and reconcile within the Unitary State of the Republic of Indonesia.

Source: ANTARA News

Govt clarifies residential zones to determine hajj pilgrims’ flights

Palembang, S Sumatra (ANTARA) – This year’s flight groups of Indonesian hajj pilgrims, including those in South Sumatra Province, will be segregated on the basis of their residential zones, South Sumatra Religious Affairs Office’s spokesman Saefudin Latief stated here, Thursday.

Speaking in connection with the South Sumatra provincial government’s readiness for the 2019 hajj season, Latief informed journalists that the aircraft capacities and accommodation facilities will also aid in deciding on the flight groups of hajj pilgrims.

Latief explained that a decision will be taken on the number of flight groups in line with the total number of hajj pilgrims scheduled to depart for the holy city of Mecca this year, adding that South Sumatra’s hajj pilgrim quota for this year reaches 6,988.

Palembang will also serve as an embarkation point for Bangka Belitung Province’s hajj pilgrims, who will undergo biometric identification in the city, he revealed.

On Apr 14, Indonesian President Joko Widodo (Jokowi) had held a meeting with King Salman bin Abdulazis al-Saud during which he lauded the 10 thousand additional hajj pilgrimage quota set aside for Indonesia.

Religious Affairs Minister Lukman Hakim Saifuddin recently confirmed to soon hold a meeting with the House of Representatives’ (DPR’s) Commission VIII to discuss about this additional hajj quota.

“The Religious Affairs Ministry will try every possible course of action to ascertain the realization of (the additional quota) this year. However, the government will be unable to attain this on its own without the consent of the House of Representatives’ (DPR’s) Commission VIII,” he affirmed.

Saifuddin admitted to have personally communicated with leaders of the House’s Commission VIII on Monday.

“With their recess ongoing, the government and BPKH (the Hajj Finance Management Board) will shortly organize a working meeting with them for discussing the impacts and outcomes of allocating an additional hajj quota of 10 thousand. We are optimistic that our House of Representatives will give its stamp of approval to the additional hajj quota,” he added.

He is optimistic that the additional hajj quota of 10 thousand would be realized in 2019 and expects to meet with the DPR next week.

Source: ANTARA News