Goodness Growth announces voluntary conversion of super voting shares

Goodness Growth Holdings announced that its Executive Chairman, Dr. Kyle Kingsley, has voluntarily converted of all of his 65,411 Super Voting Shares and, in connection therewith, the Company has issued to Dr. Kingsley 6,541,100 Subordinate Voting Shares of Goodness Growth’s capital stock. Dr. Kingsley originally acquired the Super Voting Shares in connection with the business combination of the Company completed on March 18, 2019. The voluntary conversion is related to a recent financing undertaken by the Company and Dr. Kingsley’s financial interest in Goodness Growth will not change following the conversion. Prior to giving effect to the completion of the voluntary conversion, Dr. Kingsley owns or controls, directly or indirectly, 0 Subordinate Voting Shares and 65,411 Super Voting Shares of the Company. After giving effect to the completion of the voluntary conversion, Dr. Kingsley will own, directly or indirectly, and exercise control over 6,541,100 Subordinate Voting Shares, representing approximately 6.042% of the outstanding Subordinate Voting Shares and will no longer own, directly or indirectly, or exercise control over any Super Voting Shares. The Super Voting Shares were converted pursuant to their terms for no further consideration. The Subordinate Voting Shares owned by Dr. Kingsley are held for investment purposes only. Depending upon the circumstances, Dr. Kingsley may, from time to time, acquire additional securities or related financial instruments of Goodness Growth or dispose of all or a portion of the securities or related financial instruments of Goodness Growth previously acquired.