Canopy Growth finalizes purchase of Mettrum

Canopy Growth finalizes purchase of Mettrum

The Ontario Superior Court of Justice has issued a final order approving the proposed acquisition by LP giant Canopy Growth of all of the issued and outstanding common shares of Mettrum.

The deal, once finalized, will result in six licensed facilities to grow cannabis and a licensed production footprint of approximately 665,000 sq. ft. with significant acreage for expansion. Mettrum will become a wholly-owned subsidiary of Canopy Growth, and trading of Mettrum’s common shares on the TSX Venture Exchange will be halted after closing on January 31.

Mettrum recently made headlines after their products were found to contain banned pesticides.

Completion of the deal remains conditional on certain closing conditions pursuant to the terms of the definitive arrangement agreement dated November 30, 2016. It is anticipated that the arrangement will be completed after the markets have closed on January 31, 2017.

(Why?)
Published at Tue, 31 Jan 2017 00:22:35 +0000