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Canopy Growth announced that Canopy USA, has exercised options to acquire Wana, a leading cannabis edibles brand, and Jetty, a California-based producer of high-quality cannabis extracts. These acquisitions are expected to drive revenue growth, realize cost synergies, and establish a brand-focused powerhouse in the U.S. cannabis market. Canopy USA will own 100% of Wana and approximately 75% of Jetty upon closing, subject to regulatory approvals.
Canopy Growth announced a financing agreement with an institutional investor to receive approximately US$50 million in gross proceeds and exchange C$27.5 million of existing debt for a new senior unsecured convertible debenture. The company intends to use the proceeds for working capital and general corporate purposes. The offering is expected to close in May 2024, subject to customary conditions.
