Canopy Growth Corp. says it is looking to grow its U.S. business with the creation of a new U.S.-domiciled company that will hold its U.S. cannabis investments.
The company says the establishment of Canopy USA LLC will enable it to exercise its rights to acquire U.S. cannabis companies Acreage, Wanna and Jetty.
In addition, Canopy USA will control a conditional ownership position in U.S. cannabis company TerrAscend Corp.
(Sponsored)
OCOBIA eyes Ottawa BIA expansion as it gears up for election year
Michelle Groulx says it’s not difficult to spot the Ottawa neighbourhoods with their own business improvement area (BIA). That’s because, she says, BIAs are a visual and experiential representation of
Iconic spaces, lasting impressions
The Canadian Museum of History and the Canadian War Museum offer more than beautiful spaces; they provide meaningful settings celebrating heritage, culture and design. An architectural landmark overlooking Parliament Hill
Canopy CEO David Klein says the strategy will help the company’s investors and brands realize value in the near term while positioning it for profitable growth and a fast start upon U.S. federal permissibility.
In connection with the creation of Canopy USA, Canopy will hold a shareholder vote on the creation of a new class of non-voting exchangeable shares.
It says the exchangeable shares will provide shareholders that may otherwise have concerns about the company’s exposure to the U.S. cannabis market with an opportunity to retain an interest in Canopy through a non-voting and non-participating share.
