Cannabis company Canopy Growth Corp. has signed a deal with Indiva Ltd. for the exclusive rights and interests to manufacture, distribute and sell Wana branded edible products in Canada.
The companies also signed a contract manufacturing agreement that grants Indiva the exclusive right to manufacture and supply Wana branded products in Canada for five years, with the ability to renew for an additional five-year term upon mutual agreement.
Under the deal, Canopy Growth will buy about 37.2 million Indiva shares for a purchase price of 5.79 cents per share for a total of nearly $2.2 million giving it a 19.99 per cent stake in Indiva.
(Sponsored)
Inspired by love and loss, donor Tom Moore triples Giving Tuesday donations
For Tom Moore, a retired tech executive and longtime Ottawa resident, giving back to The Ottawa Hospital isn’t just a gesture of generosity. It’s personal. Tom grew up on a
Invest with confidence: Hydro Ottawa funds technical studies for business retrofits
For Ottawa businesses, the opportunity to improve building performance has never been greater. Energy retrofits can cut emissions, strengthen operations, extend the life of assets, reduce operating costs, and position
The company will also pay Indiva additional consideration representing a value of $844,383 and a cash payment of $1.25 million on May 30, 2024.
Canopy Growth chief executive David Klein says the agreements provide the company more complete ownership over the value chain for the Wana brand in Canada, while ensuring the continuity of high-quality manufacturing.
In addition to Wana, Indiva produces cannabis edibles under the Bhang and Pearls by Gr?n brands as well as its own banner.
