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Canopy Growth Completes Acquisition of Supreme
Canopy Growth Completes Acquisition of Supreme Canada NewsWire Acquis...
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[{"type":"text","content":"\n \n \n \n Canopy Growth Completes Acquisition of Supreme\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Acquisition solidifies Canopy Growth's leadership position in the Canadian recreational market\n \n \n \n \n SMITHS FALLS, ON\n \n ,\n \n June 23, 2021\n \n /CNW/ - Canopy Growth Corporation (\"Canopy\") (TSX: WEED) (NASDAQ: CGC) and The Supreme Cannabis Company, Inc. (\"Supreme\") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) are pleased to announce the completion of the previously announced arrangement (the \"Arrangement\") whereby Canopy has acquired all of the issued and outstanding common shares of Supreme (the \"Supreme Shares\").\n \n \n \n \n \n \n \n \n \n As Canopy continues to focus on the premium flower segment, the addition of 7ACRES and the 7ACRES Craft Collective enhances Canopy's leading market share position and supplements its production capacity through the acquisition of Supreme's low-cost, scalable cultivation facility in\n \n Kincardine, Ontario\n \n . This facility has a proven capability for producing high-quality flower from sought-after strains that have earned Supreme's brands their loyal consumer followings. Additionally, the acquisition of Supreme further strengthens Canopy's overall leadership position within the Canadian recreational market and creates a pro forma Q4 FY 2021 market share of 18.1%\n \n 1\n \n . Furthermore, the acquisition creates the opportunity for immediate value creation with an estimated\n \n $30 million\n \n in synergies to be captured within the next two years.\n \n \n \"Through the addition of Supreme, we're strengthening our leadership position by offering Canadian consumers a differentiated brand portfolio...