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Canopy Growth closes acquisition of Hiku Brands

Ontario-based Canopy Growth Corp. has completed the acquisition of Canadian cannabis company Hiku Brands Co. Ltd.

Hiku Brands' stockholders voted to approve the deal in a special meeting of shareholders held Aug. 30.

Under the transaction, Hiku shareholders will receive 0.046 of a Canopy Growth common share for every share they own, valuing their securities at C$1.91 each.

According to a Sept. 5 news release, trading of Hiku shares was halted on the Canadian Securities Exchange on Aug. 31 and the shares will be delisted from the exchange Sept. 6.