Canopy To Acquire Spectrum Cannabis

Canopy Growth (TSX:WEED; NYSE:CGC) announced the complete acquisition of Spectrum Cannabis Chile.

As quoted in the press release:

This transaction brings Spectrum Cannabis Chile fully under the Canopy Growth umbrella and directly supports the Company’s plans for development within the LATAM region which is home to more than 600 million people. Thanks to progressive regulations and Government support, Chile is known throughout Latin America as an ideal location for medical and pharmaceutical research. The country has more clinical studies per resident than any other in Latin America.

“Chile is an important part of our strategy for this region and completing this acquisition marks another successful step forward in our plan,” said Mark Zekulin, President and Co-CEO, Canopy Growth. “Spectrum Cannabis Chile, working closely with the team at Canopy Health Innovations in Canada, will continue to lead regional research activities with a focus on developing additional evidence to support the use of cannabis-based medicines across Latin America and the world.”

This transaction also builds on the recent acquisition of Spectrum Cannabis Colombia which, leveraging the unique growing conditions and favourable regulatory climate in Colombia, will serve as a regional production and export hub for Canopy Growth across Latin America.

Click here to read the full press release.