MJBizMag May-June 2021 - 20

CompanyNews | U.S., Canada & International
Canopy to Buy Supreme Cannabis
Canopy Growth of Smiths Falls, Ontario, announced
plans to acquire competing Canadian marijuana producer
The Supreme Cannabis Co. in a stock-and-cash deal
valued at roughly $345 million (CA$435 million).
Under terms of the acquisition, Supreme shareholdHexo
Eyes U.S. Entry With $960M Shelf Prospectus
Canadian cannabis producer Hexo
Corp. filed a preliminary short form
base shelf prospectus that could
enable it to raise up to $960 million
(CA$1.2 billion) in capital over a 25-month period. Once
the prospectus is finalized, Ottawa-headquartered Hexo
will be able to issue securities such as common shares,
warrants, subscription receipts and units.
According to the preliminary prospectus, Hexo might
use the proceeds from the sale of securities for general
corporate purposes, to repay debt, expand into the
United States and for potential acquisitions, including
international expansion.
ers will receive approximately 11.66 Canopy shares
and 8 cents for every 1,000 Supreme shares held, a
premium of about 66% based on Supreme and Canopy's
share prices before the deal was announced.
Canopy said potential cost synergies from the acquisition
could total roughly $23.8 million within two years.
Organigram Acquires Edibles Manufacturer
Canadian cannabis producer Organigram Holdings
of Moncton, New Brunswick, acquired The Edibles &
Infusions Corp. (EIC), a cannabis edibles manufacturer
in Winnipeg, Manitoba, from AgraFlora Organics
International and other shareholders.
Organigram paid $17.5 million (CA$22 million) worth
of shares for the acquisition, with further share payments
worth up to $10.3 million if EIC hits certain milestones.
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20 Marijuana Business Magazine | May-June 2021
CANADA DEVELOPMENTS

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MJBizMag May-June 2021

Table of Contents for the Digital Edition of MJBizMag May-June 2021

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