Canopy Growth's Canopy USA Buys Wana

(RTTNews) - Cannabis company Canopy Growth Corp. (CGC, WEED.TO) confirmed Wednesday that Canopy USA, LLC has completed its acquisition of Wana. The company said the deal unlocks new growth opportunities across both state-legal markets and through hemp-derived products across the U.S.

The acquisition of Wana includes Wana Wellness, LLC, The CIMA Group, LLC, and Mountain High Products, LLC.

Wana recently launched Wanderous, a first-of-its-kind direct-to-consumer marketplace designed to offer consumers a curated selection of high-quality hemp-derived products. These includes Delta-9-THC and non-intoxicating CBD gummies from brands like Wana, Cann, Happi, Charlotte's Web, Martha Stewart CBD, and MXXN.

As part of the launch, Wana introduced its new line of Wana Beverages, ready-to-drink infused sparkling beverages that combine hemp extracts, real fruit juice, and other beneficial ingredients.

Canopy Growth noted that Canopy USA, together with the completed acquisition of around 75% stake in Lemurian, Inc. or Jetty, expects to form a brand-focused cannabis company in the U.S.

The company noted that the completed acquisitions of Wana and Jetty, followed by the contemplated acquisition of Acreage Holdings, Inc., are expected to enable Canopy USA to realize significant financial benefits, including revenue growth and cost synergies across the Canopy USA ecosystem.