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Canada’s biggest medical marijuana producer unveiled more details about its expansion into Atlantic Canada, a four-province region currently home to only two companies licensed to cultivate and sell MMJ.
Canopy Growth is buying Fredericton, New Brunswick-based Spot Therapeutics for 2.25 million Canadian dollars ($1.8 million) in stock, the company announced in a news release. New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador make up Atlantic Canada.
Spot has applied to Health Canada for a license to produce marijuana.
Canopy – based in Smiths Falls, Ontario, and traded as WEED on the Toronto Stock Exchange –