On August 28, 2017, Canopy Growth Corporation solidified their New Brunswick expansion strategy with the acquisition of Spot Therapeutics Inc., an ACMPR applicant based in Fredericton, New Brunswick. Under the terms of the transaction, shareholders of Spot Therapeutics will receive common shares of Canopy Growth in separate two tranches, with an adjustment for liabilities on closing and certain payments to be made prior to the second tranche payment.
The new facility will operate under the Tweed brand and support Canopy Growth’s global operations with high quality, large scale cannabis production capabilities. Once licensed, the initial footprint is anticipated to produce over 4,000 kg of dried cannabis annually.
Cassels acted as external counsel to Canopy Growth with a team comprised of John Vettese, Jonathan Sherman, Nicola Geary (Business, Cannabis and Mergers & Acquisitions) and Carly Cohen (Cannabis and Advocacy).