Canopy Growth to Acquire Wana Brands
New York – Paul Hastings LLP, a leading global law firm, announced today that the firm is advising Canopy Growth Corporation, a world-leading diversified cannabis and cannabinoid-based consumer product company, on definitive agreements providing Canopy Growth with the right, upon federal permissibility of THC in the U.S, to acquire 100% of the outstanding membership interests of Wana, the #1 cannabis edibles brand in North America by market share.
The agreements are structured as three separate option agreements whereby Canopy Growth has a call option to acquire 100% of the membership interests in each Wana entity. As consideration for entering into the agreements, Canopy Growth will make an upfront cash payment in the aggregate amount of $297.5 million.
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