Canopy Growth Wraps Up Acreage Acquisition Expanding US Cannabis Portfolio, What Investors Need To Know

Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) said on Monday that it has fully acquired Acreage Holdings, Inc. (CSE:ACRG, ACRG.B.U)) (OTCQX: ACRHF, ACRDF) via Canopy USA, LLC, its US-domiciled holding company.

Canopy USA, created in 2022 to streamline the Canadian cannabis giant’s entry into the US market, now owns 100% of the issued and outstanding shares of Acreage.

Background

The $3.4 billion acquisition deal was first announced in 2019. Initially, the deal was to be undertaken should the U.S. legalize marijuana on a federal level. That deal was later restructured.

The deal outlined Canopy's plan to acquire all Class E subordinate voting shares of Acreage. This acquisition followed the purchase of the Class D shares of Acreage, based on an agreement from October 24, 2022.

Acreage pointed out in November the deal could leave holders of Acreage’s Class E shares (fixed ...

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