"...curious about the 2/3 majority requirement..."

For an event such as this - the acquisition of all shares of a company by another, based on the Alberta Corporations Act (the BC Act is similar I believe), would require a 2/3 majority of the voting shareholders.

I don't think there would be any problem for the insiders to have the required majority since most of the retail shareholders usually don't even bother to vote.

This requirement is governed by the Provincial Business Corporation Act (or similar title) where the company's head office is located, and in this case, it would be BC. Most of the Provincial Corporation Acts are similar.