representative work

Canopy Growth Acquires Option to Maintain Pro Rata Ownership Interest in TerrAscend of Approximately 20%


On January 13, 2021, Canopy Growth Corporation entered into an agreement with a shareholder of TerrAscend Corp. to acquire an option to purchase 1,072,450 common shares of TerrAscend, conditional upon the occurrence or waiver of amendments to federal laws of the United States to permit the general cultivation, distribution and possession of marijuana (as defined in 21 U.S.C 802) or to remove the regulation of such activities from the federal laws of the United States, for aggregate consideration of approximately US$10.5 million. Upon the occurrence or waiver of the triggering event, Canopy Growth may exercise the option and pay the balance of the purchase price in order to acquire the common shares subject to the option.

Cassels represented Canopy Growth.

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