Canopy Growth Corp will become a cannabis industry giant after getting court approval to complete its acquisition of Mettrum Health Corp. This was the final hurdle to clear and makes Canopy the largest cannabis player in Canada with six licensed facilities and a licensed production footprint of approximately 665,000 sq. ft. with significant acreage for expansion. Mettrum Health Corp will now be a wholly-owned subsidiary of Canopy Growth Corp.
The Mettrum deal is just the latest piece of the puzzle for Canopy as it cements its leading market position. Prior to the Mettrum deal, Canopy acquired German pharmaceutical distributor MedCann GmbH Pharma and Nutraceuticals. Canopy is using its strong share price to acquire entities in all stock deals.
Mettrum Health Corp brings a lot to the table for Canopy. Mettrum received its first license from Health Canada under the Marihuana for Medical Purposes Regulations on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada under the MMPR on December 11, 2014 for its other wholly-owned subsidiary, Agripharm Corp., at Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada under the MMPR on December 17, 2015 for Mettrum Ltd. at its new 60,000 square foot production and distribution facility in Bowmanville, Ontario. Mettrum is also a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum’s functional food line, Mettrum Originals.
