Canopy Growth To Acquire MTL Cannabis
Canopy Growth Corporation (NASDAQ:CGC) has agreed to acquire MTL Cannabis Corp. (OTCQX:MTLNF) in a cash-and-stock transaction valued at approximately 125 million Canadian dollars on a fully diluted equity basis, or about 179 million Canadian dollars on an enterprise value basis.
The acquisition will be completed through a court-approved plan of arrangement and includes the settlement of all MTL debt and debt-like instruments.
Under the agreement, MTL shareholders will receive 0.32 of a Canopy Growth common share and 0.144 Canadian dollars in cash for each MTL share.
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The …