Canopy Growth Buying U.S. Firm for $425M
CBJ — Canopy Growth, Canada’s largest cannabis grower, has signed a deal to buy Colorado-based hemp researcher Ebbu in a deal said to be worth more than $425 million. It’s a part stock, part cash deal whereby Canopy will pay $25 million in cash, with the rest coming through the issuance of shares.
The acquisition will primarily help Canopy Growth with its hemp and THC-rich cannabis genetic breeding program.
Cannabis use in Canada is legal as of October 17.