Canopy Growth Corporation Acquires Mettrum Health Corp. for $430 Million
|Areas||Cannabis, Commercial Real Estate, Corporate and Commercial, Health Care Law, Litigation, Mergers and Acquisitions|
Goodmans represented Mettrum Health Corp. (Mettrum) in connection with the sale of all of its issued and outstanding shares to Canopy Growth Corporation (Canopy) by plan of arrangement, whereby Mettrum shareholders received 0.7132 common shares of Canopy for each Mettrum common share held, representing consideration of $8.42 per common share and a total transaction value of approximately $430 million, based on the respective closing prices prior to announcement of the transaction.
With three licenses to produce and sell medical cannabis under the Access to Cannabis for Medical Purposes Regulations, Mettrum is a leading producer and vendor of medical cannabis. In addition, through its wholly-owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals™, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada).
Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. With its acquisition of Mettrum, Canopy Growth will add two national brands to its portfolio, increase its production platform and create room for further expansion.