Mettrum Health Corp. announced the successful closing of the acquisition of Mettrum by Canopy Growth Corporation pursuant to the terms of an arrangement agreement. Under the arrangement, Canopy acquired all of the issued and outstanding common shares of Mettrum, and Mettrum’s shareholders became entitled to receive 0.7132 common shares of Canopy.
As a result of the acquisition, Mettrum has become a wholly-owned subsidiary of Canopy, trading of Mettrum shares has been halted and, in the normal course, Mettrum’s shares will no longer be listed on the TSX Venture Exchange.
With three licenses to produce and sell medical cannabis under the Access to Cannabis for Medical Purposes Regulations, Mettrum is a leading producer and vendor of medical cannabis. In addition, through its wholly-owned subsidiary Mettrum Hempworks, Mettrum is also a licensed producer and distributor of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals™, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada).
Aird & Berlis LLP represented the special committee of Mettrum’s board of directors in connection with the sale, with a team comprised of Margaret Nelligan and Daniel Everall (Corporate Governance and Securities) and John Andrew (Corporate).