On April 16, 2018, Canopy Growth Corporation acquired Annabis Medical s.r.o., expanding Canopy’s focus in the European medical cannabis space. Annabis Medical is the leader in the Czech Republic's medical cannabis industry and currently imports and distributes cannabis products pursuant to federal Czech licenses, with products for sale through pharmacy channels across the Czech Republic.
Under the terms of the agreement, Canopy issued 50,735 common shares valued at approximately $1.5 million on closing and, subject to meeting certain milestones, will issue up to an additional 34,758 common shares valued at approximately $1 million. The total value of the consideration payable under the terms of the agreement is approximately $2.5 million.
Cassels Brock acted for Canopy with a deal team composed of John Vettese, Nicola Geary, Jonathan Sherman and Xi Chen (Business, M&A, Securities and Cannabis).