Canopy Growth Gains Right To Acquire Wana - Quick Facts

(RTTNews) - Canopy Growth Corp. (WEED.TO, CGC) and Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC have reached agreements providing Canopy Growth with the right to acquire 100% of the outstanding membership interests of Wana, a cannabis edibles brand. As consideration, Canopy Growth will make an upfront cash payment of $297.5 million.

Upon exercise of the right to acquire each Wana Entity, Canopy Growth will make a payment equal to 15% of the fair market value of such Wana entity. For the right to acquire each Wana Entity, Canopy Growth may make additional deferred payments.

Wana products are available in 12 US states and 9 Canadian provinces. Wana expects to have license agreements in place in more than 20 U.S. states prior to the end of calendar 2022.