Acreage Holdings, Inc.: M&A transaction — Canopy USA completes acquisition of Acreage Holdings for ~$21.2M in Canopy Growth shares

Acreage Holdings, Inc.

Canopy USA acquired 100% of Acreage on Dec 9, 2024; shareholders received ~0.045 Canopy Growth shares per Acreage share.
Canopy Growth issued ~5.89M shares (~US$21.2M) to former Acreage holders, plus ~306k shares for minority interests.
Additional consideration: ~US$19.5M in Bonus Payment Canopy Shares and issuance of 1.3M shares and 1.2M warrants to satisfy put liability.
John Boehner and Bill Van Faasen resigned from board; Corey Sheahan becomes sole director/officer.
Acreage shares to be delisted from CSE; company to cease being a reporting issuer in Canada.

item 2.01 item 3.03 item 5.01 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Acreage Holdings, Inc. completed an acquisition involving Canopy USA, LLC for approximately US$21.2 million (closed 2024-12-09).

Action: acquisition
Counterparty: Canopy USA, LLC
Consideration: approximately US$21.2 million
Closing: 2024-12-09

Exact text from the filing

Fixed Share Arrangement (the “ Fixed Share Consideration ”). In aggregate, Canopy Growth issued approximately 5.89 million Canopy Shares (with a value equal to approximately US$21.2 million) to former Acreage shareholders, as well as approximately 306,000 Canopy Shares issuable in connection with Canopy USA’s acquisition of the minority interests of certain

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Acreage Holdings, Inc. underwent a change of control involving Canopy USA, LLC for approximately US$21.2 million (closed 2024-12-09).

Action: change of control
Counterparty: Canopy USA, LLC
Consideration: approximately US$21.2 million
Closing: 2024-12-09

Exact text from the filing

Fixed Share Arrangement (the “ Fixed Share Consideration ”). In aggregate, Canopy Growth issued approximately 5.89 million Canopy Shares (with a value equal to approximately US$21.2 million) to former Acreage shareholders, as well as approximately 306,000 Canopy Shares issuable in connection with Canopy USA’s acquisition of the minority interests of certain

View on SEC.gov

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Source: SEC EDGAR

accession 0001628280-24-050452

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