Canopy Growth issued 15.2 million common shares to Les Serres Stephane Bertrand as part of an amended agreement for the Canadian cannabis company to buy a 45% stake in Les Serres Vert Cannabis.
Canopy Growth WEED, +9.09% CGC, +13.24% owns 55% of Les Serres Vert Cannabis. If the deal is completed, Canopy Growth will own the entire company.
Les Serres Vert Cannabis is a licensed medical-marijuana producer in Quebec.
Earlier this month, Canopy Growth agreed to sell a facility in Smiths Falls, Ontario, to Hershey for 53 million Canadian dollars ($ 39.2 million) in an effort to contain costs. It was the seventh property the company has sold since April.