Alberta
Canopy Growth signs deal with Indiva for Wana brand of edibles
SMITHS FALLS, Ont. — Cannabis company Canopy Growth Corp. has signed a deal with Indiva Ltd. for the exclusive rights and interests to manufacture, distribute and sell Wana branded edible products in Canada.
The companies also signed a contract manufacturing agreement that grants Indiva the exclusive right to manufacture and supply Wana branded products in Canada for five years, with the ability to renew for an additional five-year term upon mutual agreement.
Under the deal, Canopy Growth will buy about 37.2 million Indiva shares for a purchase price of 5.79 cents per share for a total of nearly $2.2 million giving it a 19.99 per cent stake in Indiva.
The company will also pay Indiva additional consideration representing a value of $844,383 and a cash payment of $1.25 million on May 30, 2024.
Canopy Growth chief executive David Klein says the agreements provide the company more complete ownership over the value chain for the Wana brand in Canada, while ensuring the continuity of high-quality manufacturing.
In addition to Wana, Indiva produces cannabis edibles under the Bhang and Pearls by Grön brands as well as its own banner.
This report by The Canadian Press was first published May 30, 2023.
Companies in this story: (TSX:WEED)
The Canadian Press
Alberta
Official statement from Premier Danielle Smith and Energy Minister Brian Jean on the start-up of the Trans Mountain Pipeline
Alberta
Protecting the right to vote for Canadian citizens: Minister McIver
Minister of Municipal Affairs Ric McIver issued the following statement in response to Calgary City Council’s vote to extend the right to vote to permanent residents:
“Yesterday, Calgary city council passed a motion advocating for permanent residents to be extended the right to vote in civic elections. Alberta’s government has been clear since the beginning: only Canadian citizens are able to vote in civic elections. That will not be changing.
“The Canadian Charter of Rights and Freedoms affirms the right of every Canadian citizen to vote and to run as a candidate. This right extends to voters in municipal, provincial and federal elections.
“Protecting our democracy is of the utmost importance. Our provincial election legislation, like the Local Authorities Elections Act, has also been clear since its inception that voting is a right of Canadian citizens.
“Alberta’s government is also ensuring that voting is accessible for more Albertans. The Municipal Affairs Statutes Amendment Act proposes to enable special ballot access for any voter who requests it, without having to provide any specific reason such as physical disability, absence from the municipality or working for the municipal election. The ministries of Seniors, Community and Social Services and Service Alberta and Red Tape Reduction are also making it easier for individuals to obtain the identification Albertans need for a variety of services, including the ability to cast a ballot.
“Our government will continue to protect the integrity of our elections and make sure voting is accessible for all Albertans who are Canadian citizens.”
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