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Canopy Growth Announces Filing of Early Warning Report regarding TerrAscend Corp.
Canopy Growth Announces Filing of Early Warning Report regarding TerrAscend Corp. ...
About this update from Canopy Growth Corporation
[{"type":"text","content":"\n \n \n \n Canopy Growth Announces Filing of Early Warning Report regarding TerrAscend Corp.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ACQUISITION OF OPTION TO MAINTAIN PRO RATA OWNERSHIP INTEREST OF APPROXIMATELY 20% FOLLOWING TERRASCEND FINANCING\n \n \n \n \n SMITHS FALLS, ON\n \n ,\n \n Jan. 14, 2021\n \n /CNW/ - Canopy Growth Corporation (\"\n \n Canopy Growth\n \n \" or the \"\n \n Company\n \n \") (TSX: WEED) (NASDAQ: CGC) today announced that the Company has filed an early warning report under National Instrument 62-103 in connection with the acquisition of an option (the \"\n \n Option\n \n \") to purchase 1,072,450 common shares (the \"\n \n Common\n \n \n Shares\n \n \") of TerrAscend Corp. (\"\n \n TerrAscend\n \n \"), conditional upon the occurrence or waiver of amendments to federal laws of\n \n the United States\n \n to permit the general cultivation, distribution and possession of marijuana (as defined in 21 U.S.C 802) or to remove the regulation of such activities from the federal laws of\n \n the United States\n \n (the \"\n \n Triggering Event\n \n \"). Upon the occurrence or waiver of the Triggering Event, the Company may exercise the Option and pay the balance of the purchase price in order to acquire the Common Shares subject to the Option.\n \n \n \n \n \n \n \n \n \n On\n \n January 13, 2021\n \n , the Company entered into an agreement with an existing shareholder of TerrAscend to acquire the Option for aggregate consideration of approximately\n \n US$10.5 million\n \n . The acquisition of the Option resulted in an increase in the Company's interest in the Common Shares of approximately 0.7% on a partially diluted basis. In addition, since the previous early warning report filed by the Company, the Company has acquired beneficial ownership, control or direction over 22,474,130 Common Share purchase warrants (together with the acquisition of the Option, the \"\n \n Acquisitions\n \n \"), representing an increase in the Company's interest in the Common Shares o...