On September 5, 2018, Canopy Growth Corporation and Centric Health Corporation entered into multi-year supply and service agreements for the provision of medical cannabis. Under the agreements, Canopy will be the preferred education partner and supplier of medical cannabis primarily through its Spectrum Cannabis brand to Centric Health and the seniors it serves in long-term care and retirement residences, as well as seniors living in the community.
In addition, Canopy and Centric Health entered into a separate business development agreement wherein Canopy has advanced funds to Centric Health to help with improved education and assistance programs. As part of the business development agreement, Centric Health issued 850,000 warrants to Canopy at an exercise price of $0.25 per common share for a life of 48 months with the vesting date set at September 4, 2020.
Cassels Brock acted for Canopy with a deal team that includes Luke Woolford, Jonathan Sherman and James Lyle (Business and Cannabis) and Samuel Massie and Taschina Ashmeade (Financial Services).