Canopy Growth to take ownership of VC-backed BC Tweed

Canopy Growth Corp (TSX: WEED) has conditionally agreed to acquire the 33 percent stake of cannabis production brand BC Tweed Joint Venture Inc not currently owned by the company. With the deal's close, Canopy will issue up to $374 million worth of shares to the minority shareholders of BC Tweed. BC Tweed was launched in 2017 in partnership with Canopy and others to develop up to 3 million square feet of greenhouse growing capacity in British Columbia. The business is a spin out of SunSelect Produce Inc, a Delta, British Columbia-based vegetable producer backed by Avrio Capital and InvestEco Capital, both Canadian food and agriculture technology investors.

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