representative work

Canopy Completes Divestiture of Canadian Retail Operations


On January 3, 2023, Canopy Growth Corporation announced that it completed its previously announced transactions to divest its retail business across Canada. OEG Retail Cannabis, a prior Canopy licensee partner that currently owns and operates the Tokyo Smoke stores in Ontario, acquired Canopy’s corporate stores across Manitoba, Saskatchewan, and Newfoundland and Labrador as well as all Tokyo Smoke-related intellectual property. 420 Investments Ltd. also acquired ownership of five of Canopy’s retail locations in Alberta.

As part of the transaction with OEG Retail Cannabis, the Tokyo Smoke brand was transferred, any purchased stores currently branded as Tweed will be rebranded and the master franchise agreement with Canopy for the Tokyo Smoke brand in Ontario was terminated. In addition, the master license agreement between Canopy and Alimentation Couche-Tard Inc. with respect to the use of the Tweed brand for brick-and-mortar retail stores operating in Ontario was also terminated.

Cassels represented Canopy.