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Canopy Growth closes acquisition of cannabis research incubator

Canada's Canopy Growth Corp. completed the acquisition of Canopy Health Innovations Inc. and its unit Canopy Animal Health Inc.

Both companies were amalgamated to form a unit of Canopy Growth, and their owners received 0.3790 common shares of Canopy Growth for every share of the amalgamated company held.

Canopy Growth expects the acquisition to accelerate its medical cannabis research programs. The company formed Canopy Health Innovations in 2016, with North American investors providing initial funding.

Canopy Growth grows and sells medical cannabis in Canada.