Thursday, October 9, 2025

Latest

Canopy Growth Divests Stake in AusCann Group Holdings

Canopy Growth Corp (TSX: WEED) (NYSE: CGC) has disposed of its 13.2% stake in AusCann Group Holdings (ASX: AC8), an Australia-based cannabis operator. The two firms have had a partnership that stretches back to 2016, when AusCann Group was originally to provide Canopy with expertise in regards to cultivation activities.

The divestment reportedly took place during Friday’s trading session, when Canopy dropped its entire stake in the Australian issuer. In total, over 42 million shares of the issuer were divested, with Merchant Funds Management Pty Ltd taking approximately 11.43% of the shares at a price of AUD$0.15 per share.

The price per share paid by Merchant Funds denotes a significant loss for Canopy Growth, who acquired the shares via direct investments and warrant exercises at a range between AUD$0.20 and $1.10. The most recent transaction, which took place this past June, saw Canopy exercise 7.677 million warrants at a price per share of $0.20.

Within the associated press release issued by AusCann, it did not identify whether the sale Canopy’s stake in the firm would impact the current supply agreement between the two firms. Canopy and AusCann had originally entered into a supply agreement in September 2017, wherein Canopy was to provide medical cannabis to the Australian firm through its Spectrum Cannabis subsidiary on an exclusive basis. That supply agreement was further built upon in April 2018, when AusCann acquired certain import permits specifically for Canopy oil products.

Despite the sale at a price per share of $0.15, Auscann is currently trading at a price of $0.325 on the Australian Securities Exchange. Canopy Growth closed Friday’s session at US$19.43 on the New York Stock Exchange.

The Canadian Dollar (CAD) is currently trading at $1.12 per Australian Dollar (AUD).


Information for this briefing was found via The ASX and AusCann Group Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Canopy Growth Lays Off 200 Additional Staff Members

Canopy Growth Corp (TSX: WEED) (NYSE: CGC) is laying off an additional 200 employees as...

Wednesday, April 29, 2020, 03:40:58 PM

Is the Termination of the Hiku Merger the Best Thing to Happen to WeedMD?

A little over a year ago, it was announced that Hiku Brands would be acquiring...

Tuesday, May 7, 2019, 09:16:36 AM

Canopy Growth Announces Five New Ontario Retail Locations

Canopy Growth Corp (TSX: WEED) (NYSE: CGC) is increasing its focus on retail operations across...

Monday, January 6, 2020, 08:48:06 AM

Constellation Brands Lets Canopy Growth Warrants Expire Unexercised

Constellation Brands (NYSE: STZ) appears to have walked away from the idea of investing further...

Sunday, November 5, 2023, 11:36:00 AM

Canopy Growth Sells Off Five Facilities In Q1 2023

Canopy Growth (TSX: WEED) continues to shed assets as it works to improve its liquidity...

Thursday, June 29, 2023, 09:27:07 AM