On September 14, 2017, Starseed Holdings Inc. (“Starseed”) completed its acquisition of Mettrum (Bennett North) Ltd. (“Bennett Road North”), a wholly-owned subsidiary of Canopy Growth Corporation (“Canopy Growth”). Bennett Road North is licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR) to produce and sell dried cannabis and cannabis oil. Bennett Road North was renamed Starseed Medicinal Inc. after the completion of the acquisition.
Under the terms of the agreement, Canopy Growth was paid $7 million in cash for all the common shares of Bennett Road North and entered into a three-year Supply Agreement for dried cannabis and cannabis oil.
Miller Thomson advised Starseed in this transaction with a team that included Robert Forbes, Alex Lalka, Jay Sernoskie, Ahsan Sadiq and Corey Yermus (corporate/M&A) and Karen Durell (IP).