SPRWF - Canopy Growth to acquire The Supreme Cannabis Company for $435M

Canopy Growth Corporation (CGC) +0.90% premarket, has agreed to acquire Supreme Cannabis (SPRWF) for ~$435M on a fully-diluted basis. Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and $0.0001 in cash in exchange for each share held, representing premium of ~66% on the closing prices of the Supreme Cannabis Shares and Canopy common shares on the Toronto Stock Exchange as of April 7, 2021.The transaction combines Canopy's preeminent position with Supreme Cannabis' Top-10 position in Canada to create a pro forma Canadian recreational market share of 13.6% and combined pro forma market share estimated to be 23.3% of the premium flower segment in Ontario and 21.4% in British Columbia.The addition of Supreme Cannabis' premium brands, 7ACRES and 7ACRES Craft Collective will strengthen Canopy's brand portfolio, with both brands expected to continue to grow with further investment and expansion. "As we continue to expand our leading brand portfolio, we're excited to reach more consumers through

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Canopy Growth to acquire The Supreme Cannabis Company for $435M