On May 5, 2022, TerraFarma, the parent company of Thrive Cannabis, was acquired by Aurora Cannabis, a global leader in the cannabis industry, for $38 million, plus additional earnouts of up to $10 million for satisfying certain near-term revenue targets and up to $20 million for satisfying certain long-term revenue targets.
TerraFarma is a vertically integrated cannabis company and is most widely known for its award-winning flagship brand, Greybeard Cannabis Co., which specializes in premium quality, small-batch craft cannabis concentrates and flower products. TerraFarma is also known for its adult-use wellness-oriented brand, Being. The TerraFarma team leverage their expertise in cannabis cultivation, extraction and product development with a singular focus on delivering the highest quality standard products to consumers.
Osler, Hoskin & Harcourt LLP advised TerraFarma with a team led by Trevor Scott and Joanna Cameron and including Andrew MacDougall, Nicole Cargill, Meghan Young, Wesley Cohen (Corporate), Richard Borins, Yasir Samad, Anxhela Adhamidhis (Financial Services), Matthew Ritchie (Real Estate), Shawn Irving and Mark Sheeley (Litigation).