Canopy Growth said on Thursday it would buy weed gummies maker Wana Brands for US$297.5 million, as the world's biggest pot producer looks to expand in the U.S. cannabis market.
Demand for pot edibles such as gummies has risen during the pandemic, as people stuck at home turn to cannabis-related products for relaxation and entertainment.
"The categories that resonate the most with consumers, particularly in THC space are gummies and beverages, we continue to look at other ways of consumption but these two seem to be the ones that are taking off," Canopy chief executive officer David Klein told Reuters.
Tetrahydrocannabinol or THC is the ingredient in marijuana that gets you 'high'.
Wana sells gummies in the U.S. state of Colorado and licenses its intellectual property to partners who manufacture, distribute and sell Wana-branded gummies in states including California, Arizona, Illinois, Michigan and Florida.
Canadian pot producers are looking at cross-border expansion, as the industry has garnered investor interest with some U.S. states legalizing pot and on increased expectations for federal marijuana reform.
"We remain more bullish than others in the regulatory front and feel that our ecosystem in the U.S. is strong enough to grow even without federal permissibility happening in the short term," Klein added.
U.S.-listed shares of Canopy, which are down 46% so far this year, rose nearly 2% to $13.55 in premarket trade.
The acquisition will provide Canopy access to Wana's vertically integrated facility in Colorado and its licensing division, the company said, adding that it would continue operating independently in the state until the deal closes.
The transaction is structured as three separate option agreements allowing Canopy Growth a call option to acquire 100% of the membership interests in each Wana entity, the company said in its statement.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
While some may have been excited and/or amused by the diss-track feud between Drake and Kendrick Lamar, the man many consider to be an elder statesman of hip-hop appears less than enthused about it.
After a long week in court, Donald Trump is heading to the Jersey Shore. And his campaign says he'll be joined by "tens of thousands" of his friends.
Former U.S. President Donald Trump's youngest son, Barron Trump, has declined to serve as a delegate at this summer’s Republican National Convention, according to a senior Trump campaign adviser and a statement from Melania Trump's office.
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
Six guests are set to ascend aboard Spaceship Neptune to the stratosphere, where they will enjoy an immersive dining experience served up by Danish Michelin-starred chef Rasmus Munk.
When Marvin Henschel spotted a strange and hairless creature wandering through a front lawn in B.C.'s Lower Mainland, he could barely believe his eyes.
Next week, teachers in Saskatchewan will vote on a renewed mandate that would implement sanctions beyond the current school year.
Approximately 250 residents of a St. James area apartment building will have to leave their homes immediately, as the City of Winnipeg issued a vacate order over unsafe conditions.
The ferry between Prince Edward Island and Nova Scotia is back on the water for another season and many are hoping issues which plagued the service are a thing of the past.
Workers with Quebec's forest fire agency have voted 99 per cent in favour of a strike mandate as the summer wildfire season approaches.
A new report says the average asking rent for a home in Canada in April was up 9.3 per cent compared with a year ago, while a slight month-over-month increase was also recorded for the first time since January.
Flash floods from unusually heavy seasonal rains in Afghanistan have killed more than 300 people and destroyed over 1,000 houses, the UN food agency said Saturday.
After a long week in court, Donald Trump is heading to the Jersey Shore. And his campaign says he'll be joined by "tens of thousands" of his friends.
Winnie Makinda, 35, says she is facing the worst crisis and lowest moment of her life because of the Kenyan government's response to floods that devastated her poor community in the capital of Nairobi.
The Biden administration said Israel's use of U.S.-provided weapons in Gaza likely violated international humanitarian law but wartime conditions prevented U.S. officials from determining that for certain in specific airstrikes.
A judge put Beach Boys founder Brian Wilson under a court conservatorship to oversee his personal and medical affairs after the legendary songwriter's doctor reported that he has a major neurocognitive disorder.
U.S. President Joe Biden joked on Friday that he wished former president Donald Trump had injected himself with a little bleach.
Justin Trudeau says Meta is making billions off people, but taking no responsibility for the well-being of communities they profit from.
Canada is putting $76 million towards a German-led effort to help Ukraine defend itself from Russian missiles and aircraft, Defence Minister Bill Blair announced Friday.
Canada's longstanding blood donation policy that prohibited sexually active men who have sex with men, as well as some trans people, from donating blood and plasma was harmful and discriminatory, Canadian Blood Services acknowledged on Friday, in issuing an apology to the LGBTQ2S+ community.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
When you're picking something up from the floor or bending over to tie your shoe laces, you're performing "the hinge move," according to movement trainers.
A provincial coroner will be investigating the death of 68-year-old David Lippert, who suffered a cardiac arrest while waiting in a crowded emergency room in Kitchener, Ont.
Justin Trudeau says Meta is making billions off people, but taking no responsibility for the well-being of communities they profit from.
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
A man who was bitten by two sharks in the Bahamas said Thursday he's 'thankful that I'm here' while sharing his story of survival.
While some may have been excited and/or amused by the diss-track feud between Drake and Kendrick Lamar, the man many consider to be an elder statesman of hip-hop appears less than enthused about it.
Hours before the final, Dutch contestant Joost Klein was dramatically booted out by organizers over a backstage incident. He had failed to perform at two dress rehearsals on Friday, and contest organizer the European Broadcasting Union said it was investigating an "incident."
Sean 'Diddy' Combs on Friday asked a federal judge to dismiss a lawsuit alleging that he and two co-defendants raped a 17-year-old girl in a New York recording studio in 2003, saying it was a 'false and hideous claim' that was filed too late under the law.
The union representing WestJet Encore pilots says its members rejected the tentative deal reached last month, with just over half voting the agreement down.
The Ontario government says it will be supporting Ontario Power Generation's plan to refurbish the R. H. Saunders Generating Station on the St. Lawrence River.
Average hourly wages among Canadian employees rose to $34.95 on a year-over-year basis in April, a 4.7 per cent increase, according to a Statistics Canada report released Friday morning.
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
Pregnancy is often an exciting and anxious time for parents-to-be. And while painting the nursery and choosing a stroller are typically on the agenda, experts say preparing financially for a maternity leave can help reduce stress later on as well.
Six guests are set to ascend aboard Spaceship Neptune to the stratosphere, where they will enjoy an immersive dining experience served up by Danish Michelin-starred chef Rasmus Munk.
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
Jesse Compher scored the go-ahead goal with 1:25 left in the third period to give Toronto a 2-0 win and 2-0 lead in its best-of-five semifinal series against Minnesota in Professional Women's Hockey League playoff action on Friday.
Carlos Santana hit a tiebreaking home run in the fifth inning, Joe Ryan pitched seven innings and the Minnesota Twins won for the 16th time in 18 games by beating the Toronto Blue Jays 3-2 on Friday night.
Tesla will spend more than US$500 million to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.
If you're cruising down a highway and realize you have a flat tire, you may want to think twice before stopping to fix it on the side of the road.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
The entire town of Fort Nelson, B.C., as well as the nearby Fort Nelson First Nation, has been ordered to evacuate due to an out-of-control wildfire.
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.
A 15-year-old boy is in critical condition after an apparent stabbing during a fight at a park in Brampton Friday afternoon.
A woman has died following a shooting that happened in Toronto early Saturday morning, according to police.
A man has died following a suspected shooting that happened in Brampton, according to police.
The actions, including the decision to use non-lethal force, to disperse pro-Palestinian protesters from the University of Calgary campus were justified, Alberta Premier Danielle Smith said Friday.
A third-party examination of the City of Chestermere revealed “significant gaps” in the financial management, the province said Friday.
These are the final hours for Eau Claire Market, and the final days for residents of a nearby townhouse complex.
CTVNewsOttawa.ca looks at what you can buy for $727,000 in nine neighbourhoods across the city of Ottawa.
When you're picking something up from the floor or bending over to tie your shoe laces, you're performing "the hinge move," according to movement trainers.
Saturday is going to be mainly cloudy in the capital, with rain showers starting this afternoon, according to Environment Canada.
McGill University has filed a request for an injunction to have the pro-Palestinian encampment removed from its campus.
A woman from Saguenay-Lac-Saint-Jean, Que. won $1 million in a Lotto 6/49 draw and she bought the ticket from her daughter's convenience store.
A 43-year-old man has been charged after a driver was struck and killed while changing a tire on the side of a Highway 15 near Montreal on Thursday.
The Edmonton Oilers beat the Vancouver Canucks 4-3 in overtime late Friday night to even the Round 2 series 1-1.
An evacuation alert was issued for two Wood Buffalo communities Friday night, as crews battled an out-of-control wildfire near Fort McMurray.
David Moss, the man who murdered seven-year-old Bella Rose Desrosiers, broke down in court Friday as the girl's family spoke about the toll her death has taken on them.
RCMP say seven people have been arrested and charged in connection with a kidnapping and assault in Tobique First Nation, N.B.
Emergency Health Services (EHS) LifeFlight helicopters will soon be landing at Canadian Forces Base Windsor Park in the Halifax's west end.
Police in Newfoundland say patrol officers were assaulted Thursday by a "very irate male" wielding a block of cheese.
Businesses in the Clear Lake area are concerned about the future following a temporary ban on watercraft from entering the lake.
Approximately 250 residents of a St. James area apartment building will have to leave their homes immediately, as the City of Winnipeg issued a vacate order over unsafe conditions.
An unusually large solar storm could produce northern light shows that may be visible across most of Canada on Friday and Saturday.
Easier access to certain types of medical care has become more difficult for some residents in southwestern Saskatchewan, according to a Swift Current doctor.
Next week, teachers in Saskatchewan will vote on a renewed mandate that would implement sanctions beyond the current school year.
Regina police say three people have been charged after they seized more than 1,100 grams of a substance believed to be cocaine along with suspected meth and ammunition following a “months long investigation.”
One driver wants the City of Kitchener to cover the thousands of dollars in damage to his car after he ran over a “faulty” manhole cover.
A motorcyclist was airlifted to hospital with critical injuries after a crash in Cambridge on Friday afternoon.
We’re one step closer to finding out the new location of Kitchener-Waterloo’s newest hospital.
Next week, teachers in Saskatchewan will vote on a renewed mandate that would implement sanctions beyond the current school year.
A dump truck was heavily damaged following a crash Friday afternoon on Circle Drive North.
Improved mine automation helped fertilizer giant Nutrien Ltd. increase potash production in the first quarter amid strong demand for its products, the company's chief executive said.
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
A large group of Canadian and U.S. defendants have been fined $178,400 plus $44,525 in surcharges for a variety of moose hunting violations in northwestern Ontario.
In case you missed it, CTV News London has compiled all the top local stories from this week into one video for your convenience.
An uncertain timeline for rolling out more of London’s Whole of Community Response to Homelessness might have eliminated one potential location for a service hub.
OPP in Lambton County are investigating what is being described as a, “sudden death.” Police responded to the call at a farm on Churchill Line in Watford around 9:30 a.m.
Two Barrie men have been charged with fraud in connection with a lengthy OPP investigation after several customers seeking pool installations were allegedly scammed out of thousands of dollars.
The charge against a Wasaga Beach man has been upgraded to second-degree murder after police say the victim died more than two months after an alleged assault.
A recent change in curbside collection has left some green-thumbed enthusiasts scratching their heads as bags of yard waste linger by the curb, awaiting pickup.
In case you missed it, CTV News Windsor has compiled all the top local stories from this week into one video for your convenience.
On Friday, the union announced that James Stewart will fill the role of president, following the May 8-9 election.
Jerry Marentette has broken well over 400 records through 11 different weight classes.
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.
Karen Harrison made the same birthday wish every year from age six to age 50. When she had given up hope, it finally came true.
Police in Saanich, B.C., say an assault investigation is underway following two alleged incidents at a pro-Palestinian protest encampment on the grounds of the University of Victoria.
A suspect is at large after robbing a convenience store at gunpoint in Merritt, B.C., Friday, according to local police.
After four targeted shootings in four days, Mounties in Kamloops are taking the unusual step of warning the public about two men they believe are likely to be targeted in future violent incidents.
Images of steelhead and trout flicker over long sheets of paper, brought to life in blue and green crayon rubbings by the thousands.
Thousands of messages were sent between a teenage girl in the U.S. and an Alberta man posing as a young boy, a police investigation has revealed.
After a dry winter, southern Alberta farmers were expecting it to be another tough growing season.
Rural crime is on the decline, the RCMP said in a media statement released by the Southern Alberta District (SAD) late Wednesday afternoon.
A campaign designed to encourage Indigenous and non-Indigenous men and boys to stand up against violence against women and children in their lives is getting underway.
The Sault Ste. Marie YMCA is no longer heading for closure, but it’s going to take a community effort to ensure the facility stays operational.
Residents of a home on McNabb Street in the Sault received a scary wake-up call this week when a vehicle crashed into their residence.
Police in Newfoundland say patrol officers were assaulted Thursday by a "very irate male" wielding a block of cheese.
Health officials say there is an outbreak of whooping cough in eastern Newfoundland.
Ontario Provincial Police are facing tough questions about their search for a missing Newfoundland trucker whose rig was found two weeks ago in Ontario, then sent back to Newfoundland, where his body was found Monday in the trailer.
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