Canopy Growth issues shares to acquire stake in Manitoba retail business

canopy growth
Posted on: October 25, 2018

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On October [25], 2018, Canopy Growth Corporation (“Canopy”) (TSX:WEED, NYSE:CGC) issued to Flight North Inc. (“Flight North”) and Willmont Capital Ltd. (“Willmont Capital”, together with Flight North, the “Vendors”) an aggregate of 60,488 common shares of Canopy in connection with the share purchase agreement between Canopy, TS Brandco Holdings Inc. (“TS Brandco”) and the Vendors (the “Agreement”). Pursuant to the Agreement, TS Brandco, an indirect wholly-owned subsidiary of Canopy, purchased 10% of the issued and outstanding Class A common shares of 10006215 Manitoba Ltd. (“ManitobaCo”) from the Vendors, bringing TS Brandco’s total ownership of ManitobaCo to 89.9%. ManitobaCo is a corporation existing under the laws of the Province of Manitoba that has been selected by the Government of Manitoba as a prospective licensee under Manitoba cannabis legislation.

The transaction will further enhance Canopy subsidiaries’ market share of retail operations in the province of Manitoba.

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