Canopy Growth closes $374 mln buy of VC-backed BC Tweed
Canopy Growth Corp (TSX: WEED) has closed its acquisition of a 33 percent stake of cannabis production brand BC Tweed Joint Venture Inc not owned by the company. Canopy Growth issued $374 million of shares to BC Tweed's minority investors. Payments will be released over three years with the achievement of milestones. Launched in 2017, BC Tweed today has over 1.7 million square feet of licensed production to meet forthcoming recreational cannabis demand. It was spun out of SunSelect Produce Inc, a Delta, British Columbia-based vegetable producer backed by Canadian investors Avrio Capital and InvestEco Capital.
5 July 2018•3 mins read
