Canopy Growth Corporation Acquires Mettrum Health Corp. for $430 Million
Goodmans LLP represented Mettrum Health Corp. (Mettrum) in connection with the sale of all of its issued and outstanding shares to Canopy Growth Corporation (Canopy) by plan of arrangement, whereby Mettrum shareholders received 0.7132 common shares of Canopy for each Mettrum common share held, representing consideration of $8.42 per common share and a total transaction value of approximately $430 million, based on the respective closing prices prior to announcement of the transaction.
With three licenses to produce and sell medical cannabis under the Access to Cannabis for Medical Purposes Regulations, Mettrum is a leading producer and vendor of medical cannabis. In addition, through its wholly-owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals™, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada).
Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. With its acquisition of Mettrum, Canopy Growth will add two national brands to its portfolio, increase its production platform and create room for further expansion.
Featured Work
-
Mergers and Acquisitions
Scholastic closes investment in 9 Story Media Group
Goodmans LLP advised 9 Story Media Inc. in the acquisition by Scholastic Corp. of 100% of the economic interest and a minority of voting rights in 9 Story for C$250 million from ZMC and other sellers… -
Mergers and Acquisitions
Primo Water and BlueTriton agree to merge
Goodmans LLP is advising Primo Water Corporation in its definitive agreement to merge with an affiliate of BlueTriton Brands, Inc., to create a leading North American pure-play healthy hydration… -
Restructuring
Contract Pharmaceuticals CCAA proceedings and sale to Aterian Investment Partners
Goodmans LLP acted as counsel to Contract Pharmaceuticals Limited and its affiliates in connection with their CCAA proceedings and other restructuring… -
Mergers and Acquisitions
Apotex Inc. acquires Searchlight Pharma Inc.
Goodmans LLP advised Apotex Inc. in connection with its acquisition of Searchlight Pharma Inc… -
Mergers and Acquisitions
Chord Energy and Enerplus combine in $11 billion transaction
Goodmans LLP acted as Canadian counsel for Chord Energy Corporation in connection with its acquisition of Enerplus Corporation for US$3.7 billion in stock and cash, creating a leading producer in the… -
Cannabis
Organigram Holdings Inc. to receive $124 million investment from BT DE Investments Inc.
Goodmans LLP is acting for Organigram Holdings Inc., the parent company of Organigram Inc., a leading licensed producer of cannabis, in connection with its C$124.6 million follow-on strategic equity…