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Canopy Growth to Acquire The Supreme Cannabis Company
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TORONTO, and SMITH FALLS, ON, April 8, 2021 /PRNewswire/ - 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 ).
Canopy Growth has announced a definitive agreement to acquire The Supreme Cannabis Company. (CNW Group/Canopy Growth Corporation)
April 8, 2021 at 8:36 am Published by NCV Newswire
Canopy Growth to Acquire The Supreme Cannabis Company
TORONTO, and SMITH FALLS, ON, April 8, 2021 /PRNewswire/ – 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”).
Under the terms of the Arrangement Agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share (the “Exchange Ratio”) and $0.0001 in cash in exchange for each Supreme Cannabis Share held. The Transaction provides Supreme Cannabis sha
The Supreme Cannabis Company, Inc. (TSX:FIRE) (OTCQX:SPRWF).
The Canadian cannabis giant said Thursday that it agreed to acquire Supreme Cannabis issued and outstanding common shares for about CA$435 million ($345.7 million).
The Canopy-Supreme Transaction Details: Under the terms of the agreement, each Supreme Cannabis share is worth 0.01165872 of a Canopy common share and $0.0001 in cash.
Apart from shareholder and court approvals, under the Canada Business Corporations Act, the transaction is also subject to TSX approval and approval under the Competition Act.
In addition, Supreme Cannabis shareholders will receive a 66% premium per share calculated using Supreme Cannabis and Canopy s Wednesday, April 7 closing prices on the Toronto Stock Exchange.
Canopy Growth (CGC) to Acquire The Supreme Cannabis Company (SPRWF) for ~$435M in Mostly Stock streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.