Link: https://stratcann.com/news/canopy-growth-completes-acquisition-of-mtl-cannabis/
Outlet: SRATCANN
Canopy Growth completes acquisition of MTL Cannabis
MARCH 16, 2026
SARAH CLARK
Canopy Growth Corporation has completed its previously announced arrangement to acquire MTL Cannabis Corp. This deal involved Canopy acquiring all of the issued and outstanding common shares of MTL, with the combined company establishing Canada’s leading medical cannabis platform by revenue.
The acquisition, valued at $125 million, will help Canopy support demand in Canada and international medical markets, including Europe. Additionally, the integration of a profitable, cash-generating business supports Canopy’s objective of achieving positive adjusted EBITDA during fiscal year 2027 (beginning April 1, 2026).
As a result of the arrangement, MTL Cannabis has become a wholly-owned subsidiary of Canopy Growth and the MTL Shares are anticipated to be delisted from the Canadian Securities Exchange on or about March 16, 2026.
The acquisition of MTL also expands Canopy Growth’s operational footprint in Québec, Canada’s second-largest cannabis market, through MTL’s cultivation facilities and portfolio of cannabis flower and hash products.
MTL’s patient network, Canada House clinics, and ABBA Medix online channel, argues Canopy, put the company in the top market share position by revenue, based on internal calculations using publicly available financial statements for the quarter ending December 31, 2025, and expand Canopy Growth’s ability to serve medical cannabis patients nationwide. For the three months ended December 31, 2025, MTL reported $672,884 in net income, a 155% increase year-over-year compared to Q3 FY2024.
“The acquisition of MTL is a defining step forward in strengthening Canopy Growth’s core Canadian business and advancing our path toward sustainable profitability,” said Luc Mongeau, CEO of Canopy Growth. “We have long admired MTL and their approach to cannabis and business, and together we are Canada’s leading medical cannabis company, complemented by a strong and accelerating adult-use platform within the country. Today, we are better positioned to deliver higher-quality products, operate more efficiently, and scale strategically to meet growing demand in international markets.”
“At the heart of this next chapter are our people. We’re thrilled to welcome MTL employees to Canopy Growth. Your talent and dedication make this company exceptional, and we’re excited to move forward together,” Mongeau added.
Effective upon closing of the Arrangement, some members of MTL have joined the Canopy Growth leadership team. The combined team, listed below, strengthens operational depth and positions Canopy for consistent execution and scalable growth:
- Luc Mongeau, Chief Executive Officer
- Tom Stewart, Chief Financial Officer
- Christelle Gedeon, Chief Business Development & Corporate Affairs Officer
- Michael Perron, Chief Operating Officer
- Chrissy McHardy, Senior Vice President, Human Resources
- Andrew Bevan, Senior Vice President, Medical Sales
- Jürgen Bickel, Managing Director and Co-Founder of Storz & Bickel GMBH
In addition, MTL co-founders Richard Clément and Michel Clément will serve as strategic advisors to Canopy, supporting integration and cultivation. Retention of MTL’s leadership, including Perron as CEO, and Richard and Michel Clément in strategic consulting roles, adds deep expertise in cultivation, genetics, and facility operations, according to Canopy.
“MTL was built on disciplined operations and a relentless focus on quality,” said Michael Perron, Chief Operating Officer, Canopy Growth, and former Chief Executive Officer, MTL Cannabis. With Canopy Growth’s scale and reach, we can continue to bring high-quality product to more medical patients and adult-use consumers in Canada and internationally.”
With the transaction now complete, Canopy Growth has commenced integration of MTL’s cultivation and post-harvest operations into its supply chain.
Canopy Growth Corporation reported $90.4 million in revenue for the three months ended December 31, 2025 (Q3 FY2026), gross margin of $54.1 million, a net loss of $62.6 million, and a comprehensive loss of $70.1 million.