Cresco Labs Inc. and Origin House have provided additional information to the U.S. Justice Department regarding the companies' C$1.1 billion deal.
Chicago-based Cresco Labs, which manufactures medical cannabis products in the U.S., agreed to acquire all existing and outstanding shares of Origin House, formerly CannaRoyalty Corp., in April.
The U.S. Justice Department in July asked both companies for antitrust information regarding the deal, resulting in a delay in the completion of the transaction. The companies have now provided certifications of substantial compliance to the agency's anti-trust division.
If the federal agency does not obtain an order against the deal, the companies will be able to proceed with closing after a 30-day waiting period, which expires on or around Oct. 17. Closure of the transaction has been extended to Nov. 15.
The deal is already approved by the shareholders of Ottawa, Ontario-based Origin House and the Ontario Superior Court of Justice.
