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Canopy Growth to Send Up-Front Payment to Acreage Holdings Shareholders This Week

Canopy Growth to Send Up-Front Payment to Acreage Holdings Shareholders This Week

Canopy Growth (NYSE: CGC) is about to trigger the first phase of its merger with peer Acreage Holdings (OTC: ACRGF). The company announced Friday that, as part of the recently amended terms of the acquisition deal both companies agreed to, Canopy Growth will hand over an up-front payment of just over $37.5 million to Acreage shareholders. All investors who hold Acreage shares, or instruments that are convertible or exchangeable into Class A subordinate voting shares of the company as of the previous day, will be eligible for their portion of the payment.