Canopy Growth is a cannabis consumer product company which is situated in Canada. The company serves adult-use clients with extensive cannabis products via its Tweed and Tokyo branded Canadian dispensaries. The firm is also popularly known for operating the medical brand Therapeutics in Canada and Germany.
The acquisition of the Wana brand by Canopy Growth is a massive move from the top-rated edible companies. The Canopy Growth Corporation, through the CEO, announced that it has entered into a contract of acquiring Wana Brands by market share worth $300 million.
Once the THC products have been legalized in the US, the company will secure its options through the huge purchase. This will, in return, create a strong market bond in Canada and the US.
The right to purchase the Wana brands will also give the US a direct pathway in the THC Canada market and top-rated cannabinoid gummies brands. According to the CEO, the future growth of the cannabis industry is promising, and the opportunities with Wana are amazing. The contract offers Canopy Growth the right to purchase the entire membership interests in Wana Brands.
In addition, Canopy gets the related mountain High Products, the Cima Group, and Wana Wellness. When exercising the option, it will mean that Canopy Growth will need to make an extra payment translating to 15% of the fair market value of every entity during the acquisition period.
Independent operation for the two companies will continue up to the time that the options will be exercised.