Mettrum Health Corp. (Mettrum) completed the sale of all of its issued and outstanding shares to Canopy Growth Corporation (Canopy) by plan of arrangement, whereby Mettrum shareholders received 0.7132 common shares of Canopy for each Mettrum common share held, representing consideration of $8.42 per common share and a total transaction value of approximately $430 million, based on the respective closing prices prior to announcement of the transaction.
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 also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum’s functional food line, Mettrum Originals™, under theIndustrial Hemp Regulations (Canada)issued pursuant to the Controlled Drugs and Substances Act (Canada).
Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. With its acquisition of Mettrum, Canopy Growth will add two national brands to its portfolio, increase its production platform and create room for further expansion.
Mettrum was represented in-house by Trevor Fencott, Chief Legal Officer and Donald Henderson, General Counsel and externally by Goodmans LLP with a team that was led by Victor Liu and included Sheldon Freeman, Leah Boyd, Emily Weizel, David Rosenblat, Sarah Macchione and Laura Magisano (corporate), Ken Saddington (tax), Peter Kolla (litigation) and Ira Barkin (real estate).
Mettrum’s special committee of the board of directors was represented by Aird & Berlis LLP with a team led by Margaret Nelligan and included Daniel Everall and John Andrew (corporate).
Canopy Growth was represented by LaBarge Weinstein LLP with a team led by Debbie Weinstein and included Dan Scott, Kyle Lavender and Tayyaba Khan (corporate) and Estelle Duez and Dineen Beath (tax).
Sheldon Freeman,Ira S. Barkin,Margaret T. Nelligan,Trevor A.S. Fencott
Goodmans LLP,Aird & Berlis LLP