Canopy Growth completed the acquisition of Acreage Holdings for $750m.

Canopy Growth, a cannabis company, completed the acquisition of Acreage Holdings, an operator of cannabis cultivation and retailing facilities, for $750m. Consideration of 0.4500 of a common share of Canopy in exchange for each Floating Share. “As the growth of the US cannabis market continues rapidly at the state level, this strategy enables us to take control of our own destiny and capitalize on the once-in-a-generation opportunity in the largest cannabis market in the world. We expect to unleash the full power of Canopy’s scalable and ideally-positioned US cannabis ecosystem to unlock potential expansion opportunities. This strategy and positioning are true differentiators, which we expect to enable our investors and brands to realize value in the near term while positioning Canopy for profitable growth and a fast start upon US federal permissibility,” David Klein, Canopy Growth CEO.