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Canopy Growth to Acquire Jetty Extracts in California.

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Vincent

MANews-(C)2009-2022

Canada-based cannabis and cannabinoid-based consumer product company Canopy Growth Corp. (TSX: WEED) (NASDAQ: CGC) and California cannabis extracts producer and clean vape technology specialist Lemurian, Inc have entered into definitive agreements providing Canopy Growth, by way of a wholly-owned subsidiary, the right to acquire, upon federal permissibility of THC in the US or earlier at Canopy Growth's election, up to 100% of the outstanding capital stock of Jetty, the companies said.

Founded in 2013, Jetty is a top 10 cannabis brand in California, and a top 5 brand in the Vape Category.

These agreements present Jetty with potential opportunities to collaborate across Canopy's robust US THC ecosystem, which already includes the right to acquire both Acreage Holdings, Inc. and Wana Brands, as well as a significant conditional ownership interest in TerrAscend Corp.

The two companies are also exploring avenues through which Jetty could bring the brand and its innovative product line up to the Canadian recreational market to fully realize the North American, cross-border potential of Jetty's IP.

Under the Agreements, Canopy Growth will make aggregate upfront...

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