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Canopy Growth closes acquisition of Mettrum Health

The takeover of Mettrum Health Corp. by fellow Canadian medical marijuana maker Canopy Growth Corp. is complete.

The companies announced the C$430 million all-stock transaction Dec. 1, 2016.

On the heels of court approval, Mettrum Health is now a wholly owned subsidiary of Smiths Falls, Ontario-based Canopy Growth.

Mettrum Health shares will no longer be listed on Canada's TSX Venture Exchange, and its shareholders will receive 0.7132 common share of Canopy Growth for each Mettrum Health common share held.

Canopy shareholders will hold 77.7% of the combined company with Mettrum shareholders holding the remaining 22.3%.

Canopy Growth also said that its share ticker will change to WEED upon the commencement of trading on the Toronto Stock Exchange on Feb. 1.