04:55 PM EST, 12/19/2024 (MT Newswires) -- Greenway Greenhouse Cannabis ( GWAYF ) after trade Thursday said it signed an asset purchase agreement with Choice Growers Cannabis.

Greenway acquired all of Choice Growers' consumer packaged goods brands, trademarks, and related intellectual property. In exchange, Greenway will forgive Choice Growers' debt to it and receive a royalty payment based on net revenue over six years, the company said.

The takeover includes brands like Grapefruit God Bud, The Jeffrey, Watermelon Pebbles, Pink Lemonade, and others, the company added.

The financial details of the agreement were not given.

Greenway shares closed up $0.06 to $0.40 on the Canadian Securities Exchange.