Canopy Growth to acquire The Supreme Cannabis Company

On April 8, 2021, Canopy Growth Corporation ("Canopy") and The Supreme Cannabis Company, Inc. ("Supreme Cannabis") announced that they entered into a definitive arrangement agreement under which Canopy will acquire all of Supreme Cannabis' issued and outstanding common shares in a transaction valued at approximately C$435 million on a fully-diluted basis.

Under the terms of the arrangement agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and C$0.0001 in cash in exchange for each Supreme Cannabis share held.

The transaction will be effected by way of a court-approved plan of arrangement under the Canada Business Corporations Act, requiring the approval of at least two-thirds of the votes cast by shareholders of Supreme Cannabis voting at a special meeting to consider the transaction expected to be held in June 2021.

Closing of the transaction is expected to occur by end of June 2021, assuming timely receipt of all necessary court, shareholder, regulatory and other third-party approvals and the satisfaction of all other conditions.

Further information can be found on PR Newswire’s website.

Supreme Cannabis is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, it has emerged as one of the world's most premium producers of recreational, wholesale and medical cannabis products.

Canopy Growth is a world-leading diversified cannabis and cannabinoid-based consumer product company.