Canopy Growth (CGC) said Monday that Canopy USA has finalized its acquisition of Acreage Holdings.

Canopy Growth issued around 5.89 million shares, valued at nearly $21.2 million, to former Acreage shareholders, along with about 306,000 additional shares for acquiring minority interests in certain Acreage subsidiaries.

Canopy Growth now owns all the issued and outstanding non-voting shares of Canopy USA, representing about 84.4% of Canopy USA's total shares on an as-converted basis, according to a joint statement.

Shares of Canopy Growth were up 4.9% in recent Monday trading.

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