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Canopy Growth to Acquire The Supreme Cannabis Company
Canopy Growth to Acquire The Supreme Cannabis Company Canada NewsWire ...
About this update from Canopy Growth Corporation
[{"type":"text","content":"\n \n \n \n Canopy Growth to Acquire The Supreme Cannabis Company\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: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n , and SMITH FALLS, ON,\n \n April 8, 2021\n \n /CNW/ - Canopy Growth Corporation (\"Canopy\") (TSX: WEED) (NASDAQ: CGC) and The Supreme Cannabis Company, Inc. (\"Supreme Cannabis\" or \"Supreme\") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) are pleased to announce that they have entered into a definitive arrangement agreement (the \"Arrangement Agreement\") under which Canopy will acquire all of Supreme Cannabis' issued and outstanding common shares (the \"Supreme Cannabis Shares\") in a transaction valued at approximately $435 million on a fully-diluted basis (the \"Transaction\").\n \n \n \n \n \n \n \n \n \n Under the terms of the Arrangement Agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share (the \"Exchange Ratio\") and\n \n $0.0001\n \n in cash in exchange for each Supreme Cannabis Share held. The Transaction provides Supreme Cannabis shareholders with a premium per Supreme Cannabis Share of approximately 66% based on the closing prices of the Supreme Cannabis Shares and Canopy common shares on the Toronto Stock Exchange (the \"TSX\") as of\n \n April 7, 2021\n \n .\n \n \n The Transaction is expected to provide several benefits to both Canopy and Supreme Cannabis shareholders. Notably, following completion of the acquisition, Canopy will possess a strengthened brand portfolio including one of\n \n Canada's\n \n leading premium brands, 7ACRES. Brand growth is anticipated with distribution supported by Canopy's robust sales and distribution network as well as superior consumer insights and R&D capabilities. In addition to receiving a mark...