Canopy Growth has signed a deal with Indiva Limited and have secured exclusive rights to manufacture, distribute and sell Wana branded edible products across Canada.
Canopy Growth, which announced earlier this year mass layoffs and the closure of its large plant in Smiths Falls leaving hundreds of locals seeking work, will buy 37.2 million Indiva shares for about $2.2 million, giving them a one point under 20% stake in the company.
The companies also agreed to a manufacturing agreement to allow Indiva to supply and Wana branded products in Canada for five years exclusively.
Story by Grant Deme
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