Canopy Growth Agrees to Buy Jetty

California-based company produces cannabis extracts, clean vape technology
Canopy Growth and Jetty

SMITH FALLS, Ontario, and OAKLAND, Calif. —Canopy Growth Corp. plans to acquire Lemurian Inc., known as Jetty, upon federal permissibility of tetrahydrocannabinol (THC) in the United States, or earlier if Canopy Growth decides.

Jetty is an Oakland, Calif.-based producer of cannabis extracts and pioneer of clean vape technology, Canopy Growth said. Jetty was one of the first brands to bring to market a vape free of fillers and cutting agents, it said, and it built on that with its solventless vape and concentrate collection that is made from only ice, water, heat and pressure.

“Canopy Growth is building a house of premium cannabis brands with a focus on the core growth categories that will power the market's path forward, now including Jetty—a pioneer of solventless vapes,” said David Klein, CEO of Canopy Growth. "There are significant opportunities for Jetty to scale at the state-level across the U.S. by leveraging Canopy's U.S. ecosystem, and we're actively working on plans to bring the brand to the Canadian recreational market.”

Jetty started in San Diego, in 2013 and now houses about 65 employees in the company’s 14,000-squarefoot warehouse in Oakland. The company uses its production facility to create industry-leading extracts including Solventless Vape, Live Resin Vape and other products.

“Jetty has put the consumer at the heart of our focus since the outset, and we're proud to have pioneered the cleanest vape technology on the market. This agreement between Canopy Growth and Jetty is mutually beneficial and provides long-term growth opportunities for our employees and our brand,” said Ron Gershoni, co-founder and CEO of Jetty. “Along with founding members Nate Ferguson and Rob Ferguson, we look forward to continuing to lead our team at Jetty and working alongside the team at Canopy to further expand our brand.”

Canopy Growth, Smith Falls, Ontario, is a diversified cannabis and cannabinoid-based consumer product company. It offers product varieties in dried flower, oil, softgel capsule, infused beverage, edible and topical formats, as well as vaporizer devices.

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