11:17:51 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Canopy Growth Corp
Symbol WEED
Shares Issued 394,422,604
Close 2022-05-18 C$ 7.18
Market Cap C$ 2,831,954,297
Recent Sedar Documents

Globe/CP say Canopy aiming to buy California company

2022-05-19 08:35 ET - In the News

The Globe and Mail reports in its Thursday edition that Canopy Growth has signed a deal that will give it the right to acquire California cannabis company Jetty Extracts, if the U.S. federally legalizes the main ingredient in marijuana. A Canadian Press dispatch to The Globe reports that the deal announced Wednesday is structured as two separate option agreements that give a subsidiary Canopy set up the ability to acquire up to 100 per cent of Jetty's equity interests upon legalization or if Canopy exercises its rights earlier. Under the agreements, Canopy will make upfront payments of cash and common shares totalling about $69-million (U.S.) in exchange for a 75-per-cent interest in Jetty, which is registered as Lemurian. Once Canopy exercises its right to acquire all of the interests, it will begin making extra payments through cash and common shares. The deal is meant to lay the groundwork for Canopy's expansion into the U.S. should the country look to turn its patchwork of pot policies into a single federal stance. Federal laws still consider it a Schedule I controlled substance with high risk of abuse and no accepted medical use, putting it in the same class as drugs such as heroin and peyote.

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