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Canopy Growth Corporation is set to acquire all of Supreme Cannabis' issued and outstanding common shares in a transaction valued at approximately $435 million on a fully-diluted basis.
Under the terms of the acquisition agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and $0.0001 in cash in exchange for each Supreme Cannabis Share held. The transaction provides Supreme Cannabis shareholders with a premium per Supreme Cannabis share of approximately 66 percent based on the closing prices of the Supreme Cannabis shares and Canopy common shares on the Toronto Stock Exchange as of April 7, 2021.