Canopy Growth looks to grow U.S. business with new holding company structure



Canopy Growth Corp. says it’s wanting to grow its U.S. business with the creation of a new U.S.-domiciled company that may maintain its U.S. marijuana investments.

The company says the institution of Canopy USA LLC will allow it to train its rights to purchase U.S. marijuana corporations Acreage, Wanna and Jetty.

In addition, Canopy USA will management a conditional possession place in U.S. marijuana company TerrAscend Corp.

Canopy CEO David Klein says the technique will assist the company’s traders and types notice worth within the close to time period whereas positioning it for worthwhile development and a quick begin upon U.S. federal permissibility.

In connection with the creation of Canopy USA, Canopy will maintain a shareholder vote on the creation of a new class of non-voting exchangeable shares.

It says the exchangeable shares will present shareholders which will in any other case have issues in regards to the company’s publicity to the U.S. marijuana market with a possibility to retain an curiosity in Canopy by way of a non-voting and non-participating share.

This report by The Canadian Press was first printed Oct. 25, 2022


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