SHARES IN CANOPY GROWTH MAY GROW SOME MORE ON NEW SUPPLY DEAL; FILES EARLY WARNING REPORT WITH CANOPY RIVERS INN CONNECTION WITH CLOSING OF LIVEWELL QUALIFYING TRANSACTION
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08:19 AM EDT, 06/29/2018 (MT Newswires) -- Dual listed Canopy Growth (WEED.TO, CGC) -- a diversified cannabis and hemp company -- may add to the 9.7% gained Thursday (to $40.51 apiece, nearer a 52-week high $48.72), after completing a supply agreement with the Manitoba Liquor and Lotteries Corporation. The deal involves up to 6,500 kilograms of cannabis products over the next 12 months "to meet demand from the adult use recreational cannabis market set to open on October 17, 2018," said the company.
Moreover, on late Thursday, Canopy Growth, together with Canopy Rivers, filed an early warning report under National Instrument 62-103 in relation to the closing of the previously announced qualifying transaction of LiveWell Canada Inc. In a statement the company said that in exchange for their common shares of LiveWell Foods Canada, the acquirors received an aggregate of 17.6 million common shares of Livewell, representing approximately 14.0% of the issued and outstanding common shares on a non-diluted basis.
According to a statement, Canopy Growth holds 11.7 million common shares and Canopy Rivers has 5.9 million common shares. The Acquirors had not held any common shares or convertible securities of LiveWell before the transaction.
Price: 40.51, Change: +3.58, Percent Change: +9.69
