Canopy Growth and Indiva Limited, a Canadian producer of cannabis edibles and other cannabis products, announced today that they have entered into a license assignment and assumption agreement providing Canopy Growth exclusive rights and interests to manufacture, distribute, and sell Wana branded products in Canada which accelerates Canopy Growth's ability to leverage the Wana brand.
Simultaneously, to support continuity of quality supply and aligned to Canopy Growth's asset light strategy for sourcing of cannabis 2.0 formats, Canopy Growth and Indiva also entered into a contract manufacturing agreement, under which Canopy Growth will grant Indiva the exclusive right to manufacture and supply Wana branded products in Canada for a period of five years, with the ability to renew for an additional five-year term upon mutual agreement of the parties.
