Canopy Growth acquires Supreme Cannabis in all-stock deal valued at $435 million Announced in November 2019, the joint venture between Canopy Growth and Aubrey Drake Graham revolved around launching the More Life brand, the company’s previously wholly-owned subsidiary, More Life Growth Company, Canopy Growth noted at the time. Drake and Canopy Growth Corp. are going separate ways. The filing shows Canopy Growth “took a $10.3 million impairment charge on the venture in the fiscal fourth quarter ended March 31,” notes Bloomberg. Drake tried to trademark the warning label that appears on Canadian cannabis products, but the bid failed. Furthermore, Canopy Growth “derecognized” almost $33.7 million in remaining minimum royalty obligations owing to More Life that month, according to CP. There were others down points as well.
Drake and Canopy Growth Corp. are going separate ways.
In the clash of the Canadian powerhouses, Bloomberg reports that it was the Smiths Fall, Ont.-based company that opted to end its relationship with the celeb. Citing the financial statement filed this week, the split occurred this past March.
According to The Canadian Press, the filings indicated it was a mutual decision “to terminate...
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