Canopy Growth Exercises Option to Acquire Class E Shares of Acreage-February 2024-www.financetom.com

Canopy Growth Exercises Option to Acquire Class E Shares of Acreage

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Canopy Growth Exercises Option to Acquire Class E Shares of Acreage

Jun 4, 2024 8:10 AM

10:54 AM EDT, 06/04/2024 (MT Newswires) -- Canopy Growth ( CGC ) said Tuesday it has exercised the option to acquire all of the class E subordinate voting shares of Acreage Holdings ahead of the completion of the agreement that will make Acreage a unit of Canopy USA.

Closing of the Acreage acquisition remains subject to conditions under the fixed and floating share arrangement agreements with Acreage, Canopy Growth ( CGC ) said.

The company also said it partially exercised its option to acquire certain Acreage debt.

Canopy Growth ( CGC ) added that Wana Wellness, CIMA Group and Lemurian are now units of Canopy USA, while Canopy USA's acquisition of Mountain High Products is expected to close in the first half of fiscal 2025.

Shares of Canopy Growth ( CGC ) were down 2.4% in recent trading.

Price: 7.83, Change: -0.19, Percent Change: -2.37

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