Canopy Growth Corp. of Smiths Falls, Ont., has formed a joint venture to share ownership of the Agripharm indoor growing operation in Creemore, Ont., with Amsterdam-based Green House Brands.
Canopy Growth (TSX:WEED) says it will retain 40 per cent of Agripharm and the rest will be owned by Green House Holdings North America Inc. and Colorado-based Organa Brands.
The venture will create a new Canadian home base for Green House Brands and Organa while Canopy Growth has the right to purchase all the cannabis products produced by Agripharm for distribution through its Canadian system.
Green House Brands and Organa will also grant Canopy an exclusive, royalty-free licence in Canada to certain technology and intellectual property.
Green House Brands was formed in 1985 and was a pioneer in creating a European cannabis coffee shop market. It now operates in Europe, Africa, South America and North America.
Note to readers: This is a corrected story. A previous version said Organa Brands is an affiliate of Green House Holdings based on information from the source.
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