Canopy Growth Buying U.S. Firm for $425M

Canopy Growth logo

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.

@CanBizJournal

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