Photo courtesy of Canopy Growth
Canopy Growth’s latest business venture is their newest agreement with the #1 cannabis edibles brand in North America, Wana Wellness. The agreement gives Canopy Growth the right, upon federal legalization, to acquire 100% of Wana’s outstanding membership interests.
Wana operates in Colorado and sells gummies in the state, but they also license their intellectual property to partners who manufacture, distribute, and sell Wana gummies across states like California, Arizona, Illinois, Michigan, and Florida. Wana products even reach the great white north, Canada.
The gummies brand plans to obtain license agreements in more than 20 states across the country, including for future adult use in New York and New Jersey, before the end of 2022.
“Today’s announcement reflects the culmination of more than a decade of hard work, dedication, and vision put forth by our employees and partners, as well as an unwavering commitment to the plant and our customers,” said Nancy Whiteman, CEO, and co-founder of Wana Brands.
“We have long considered what the next phase of our growth might look like, and this deal is not only a great testament to our focus on bottom-line growth and fiscal diligence, but also to the value we believe Wana can bring to Canopy and its shareholders now and in the future.”
Until THC is federally permissible, Canopy Growth and Wana Wellness will continue making plans for the anticipated and monumental moment.
The moment we have been waiting for.
A rundown on New Mexico's latest news on legal cannabis.