07:38 AM EDT, 05/07/2024 (MT Newswires) -- Canopy Growth Corporation ( CGC ) confirmed Tuesday that Canopy USA, LLC has exercised the options to acquire Wana and Jetty.

"With these acquisitions now triggered, Canopy USA has taken a crucial step forward in bringing together these high potential businesses and will soon be able to demonstrate the full potential of this ecosystem across the U.S. cannabis market," said David Klein, Chief Executive Officer. "In addition to the positive signals we're seeing on near term regulatory reform in the U.S., there's significant potential in putting together leading brands like Wana and Jetty, and we're excited to see how these brands can collaborate to become even stronger."

It said there is no additional consideration to be paid by Canopy USA for the exercise of the options to acquire each.

The closing of the acquisitions is subject to certain customary closing conditions, including receipt of regulatory approvals. Following the initial closing, Canopy USA will own 100% of the outstanding equity interests in Wana and approximately 75% of the outstanding shares of Jetty.