Canopy Growth Corporation and The Supreme Cannabis Company, Inc announced that they have entered into a definitive 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. Under the terms of the Arrangement Agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and $0.0001 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 as of April 7, 2021. The Transaction is expected to provide several benefits to both Canopy and Supreme Cannabis shareholders.
Published Ncv Newswire, New Cannabis Ventures, 04/08/2021 08:46:00