Canopy, Indiva sign edibles deal

Cannabis company Canopy Growth Corp. has signed a deal with Indiva Ltd. for the exclusive rights and interests to manufacture, distribute and sell Wana branded edible products in Canada. The companies also signed a contract manufacturing agreement that grants Indiva the exclusive right to manufacture and supply Wana branded products in Canada for five years, with the ability to renew for an additional five-year term upon mutual agreement. Under the deal, Canopy Growth will buy about 37.2 million Indiva shares for a purchase price of 5.79 cents per share for a total of nearly $2.2 million giving it a 19.99 per cent stake in Indiva.