As previously announced, Canopy Growth (TSX: WEED) (OTC: TWMJF) closed its acquisition of Mettrum after the close of business.
We are extremely pleased that we have been able to complete this acquisition. With Mettrum now under the canopy, our cannabis product offerings, brands, production capacity, financial strength, and growth potential, both in Canada and abroad, is truly unparalleled.
Bruce Linton, Chairman & CEO, Canopy Growth
The company also issued a press release announcing its adoption of its new trading symbol, WEED. The company debuted trading in April 2014 with the symbol TWD when it was known as Tweed. Upon closing the Bedrocan Cannabis acquisition in September 2015, it renamed the company to Canopy Growth and adopted the CGC symbol.
Canopy Growth to Trade as WEED on the TSX
Company to Celebrate with Market Opening Bell Ringing Ceremony
SMITHS FALLS, ON, Jan. 31, 2017 /CNW/ – Canopy Growth Corporation (TSX: CGC) (“Canopy Growth” or “the Company”) is pleased to announce that its share ticker will change to TSX:WEED upon the commencement of trading on the Toronto Stock Exchange (“TSX”) on February 1, 2017.
“Patients, investors and Canadians as a whole are more accepting of the cannabis sector today than ever before,” said Bruce Linton, Chairman and CEO of Canopy Growth. “This is owed to a lot of factors, but we are proud to have played our part in introducing a once-stigmatized topic into Main Street and Bay Street conversations. From our beginnings in an abandoned chocolate factory, to our funding of research to our countless doctor interactions, we have always taken pride in putting people at ease to open the door to a more meaningful conversation. Now, over three years later, we’re thrilled to be marketing WEED on Bay Street.”
The ticker symbol change comes at a transformative time for Canopy Growth. On January 27th, 2017, shareholders voted overwhelmingly in favour of a previously announced acquisition of Mettrum Health Corp. All conditions of an arrangement agreement dated November 30, 2016, as amended, and previously announced by the Companies on December 1, 2016 have been met and the transaction is now officially closed. With Mettrum under the canopy, the Company has created the largest legal cannabis business in the world. Moving forward this means additional production capacity, physician outreach opportunities, research, jobs and economic stimulus across Ontario and Canada.
With a strong portfolio of diverse national brands, unparalleled diversified production capacity, and a strong financial position, Canopy Growth is poised to continue its growth trajectory to meet the demand of domestic and international cannabis markets.
Canopy Growth team members from across the country will “ring the bell” to open trading on the TSX on February 1, 2017. The CGC team is looking forward to celebrating the acquisition of Mettrum, a new ticker, and is looking forward continued to Future Growth.
Watch it here in real time here https://www.youtube.com/watch?v=DGUI5rWwLMo or on BNN television.
An archive of the ceremony will also be made available at http://www.tsx.com/news/market-opens.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. Through its wholly‑owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over 650k square feet of indoor and greenhouse production capacity. Canopy Growth has established partnerships with leading sector names in Canada and abroad. For more information visit www.canopygrowth.com.
Original press release: http://www.newswire.ca/news-releases/canopy-growth-to-trade-as-weed-on-the-tsx-612341993.html