11:02:05 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Canopy Growth Corp
Symbol WEED
Shares Issued 350,802,447
Close 2020-06-26 C$ 21.82
Market Cap C$ 7,654,509,394
Recent Sedar Documents

Globe/CP say Canopy Growth amends terms of Acreage deal

2020-06-26 07:21 ET - In the News

Also In the News (C-ACRG) Acreage Holdings Inc

The Globe and Mail reports in its Friday, June 26, edition that Canopy Growth is shaking up its Acreage Holdings acquisition deal because of "broader market and economic factors." A Canadian Press dispatch to The Globe reports that Canopy signed an agreement in April, 2019, to take over the New York company if cannabis production and sale became federally legal in the United States. The deal would help Canopy deepen its international opportunities and involved the company agreeing to pay 0.5818 of its share for each Acreage share. As part of the changes, which include an upfront payment for Acreage shareholders and certain convertible security holders totalling $37.5-million (U.S.) or about 30 U.S. cents per share, Acreage shareholders will receive 0.7 of a fixed share and 0.3 of a floating share for each Acreage share they hold. Once the cannabis laws change in the U.S., Canopy has agreed to swap 0.3048 of a Canopy share for each fixed Acreage share. Canopy will also have the option to buy the floating Acreage shares for a price equal to the 30-day volume weighted average trading price, subject to a minimum of $6.41 (U.S.) per share, payable in either cash or shares at Canopy's option.

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