Canopy Growth’s $435 Million Acquisition of The Supreme Cannabis Company, Inc.

BLG represented Supreme Cannabis in the transaction. Cassels acted as strategic and legal advisor to Canopy Growth Corporation.

On April 8, 2021, The Supreme Cannabis Company, Inc. (Supreme Cannabis) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) and Canopy Growth Corporation (Canopy) (TSX: WEED, NASDAQ: CGC) announced they had entered into a definitive arrangement agreement under which Canopy will acquire all of Supreme Cannabis’ issued and outstanding common shares in a transaction valued at approximately $435 million on a fully-diluted basis.

The Transaction was approved by the board of directors of each of Canopy and Supreme Cannabis, and Supreme Cannabis’ board of directors recommends that Supreme Cannabis shareholders vote in favour of the Transaction during a special meeting of shareholders, expected to be held in June 2021.

This transaction is expected to provide several benefits to both Canopy and Supreme shareholders, as bringing these two Canadian market leaders together will present a significant value creation and brand opportunity for both companies. Following the completion of the acquisition, Canopy will possess a brand portfolio including one of Canada’s leading premium cannabis brands, 7ACRES.

The BLG team was led by Andrew Powers (Picture) and inlcuded  Philippe Tardif, Cameron MacDonald, Andrew McLean, Colin Cameron-Vendrig, Jonas Farovitch (Securities), Kim Maguire, Danielle Lewchuk (Tax), David Wood, Todd Keeler, LuAnne Morrow (Intellectual Property), Xue Yan, Parisa Hurst (Real Estate), F.F. (Rick) Coburn (Environmental) Denes Rothschild (Competition), James Fu (Employment), Caitlin Sainsbury and Graham Splawski (Litigation).

The Cassels’ team included Jonathan Sherman, Jamie Litchen, Tayyaba Khan, Thea Gaertner (Securities, M&A and Cannabis), Chuck Rich, Daniel Cipollone, Paras Patel (Banking & Specialty Finance and Cannabis), Chandimal Nicholas, Marco Ciarlariello (Regulatory, Intellectual Property and Cannabis), Chris Hersh and Katelyn Leonard (Competition & Foreign Investment), Kwaku Tabi (Real Estate & Development and Cannabis) and Erin Minuk (Employment & Labour).

Involved fees earner: Colin Cameron-Vendrig – Borden Ladner Gervais; F.F. Coburn – Borden Ladner Gervais; Jonas Farovitch – Borden Ladner Gervais; James Fu – Borden Ladner Gervais; Parisa Gerami Hurst – Borden Ladner Gervais; Todd Keeler – Borden Ladner Gervais; Danielle Lewchuk – Borden Ladner Gervais; Cameron MacDonald – Borden Ladner Gervais; Kim Maguire – Borden Ladner Gervais; LuAnne Morrow – Borden Ladner Gervais; Andrew Powers – Borden Ladner Gervais; Denes Rothschild – Borden Ladner Gervais; Caitlin Sainsbu – Borden Ladner Gervais; Graham Splawski – Borden Ladner Gervais; Philippe Tardif – Borden Ladner Gervais; David Wood – Borden Ladner Gervais; Xue Yan – Borden Ladner Gervais; Marco Ciarlariello – Cassels Brock & Blackwell LLP; Daniel Cipollone – Cassels Brock & Blackwell LLP; Thea Gaertner – Cassels Brock & Blackwell LLP; Chris Hersh – Cassels Brock & Blackwell LLP; Tayyaba Khan – Cassels Brock & Blackwell LLP; Katelyn Leonard – Cassels Brock & Blackwell LLP; Jamie Litchen – Cassels Brock & Blackwell LLP; Erin Minuk – Cassels Brock & Blackwell LLP; Chandimal Nicholas – Cassels Brock & Blackwell LLP; Paras Patel – Cassels Brock & Blackwell LLP; Chuck Rich – Cassels Brock & Blackwell LLP; Jonathan Sherman – Cassels Brock & Blackwell LLP; Kwaku Tabi – Cassels Brock & Blackwell LLP;

Law Firms: Borden Ladner Gervais; Cassels Brock & Blackwell LLP;

Clients: Canopy Growth Corp.; Supreme Cannabis Company, Inc.;

Print Friendly, PDF & Email
Martina Bellini

Author: Martina Bellini