The sector was already shaky before COVID-19, but companies must now have the right mix of cash, pot and sales channels to make it to the other side Before the outbreak of COVID-19, cannabis stocks had plummeted from fattened valuations as they failed to find promised profit and seemed at risk of bankruptcy. The global […]
Canopy Growth Corp.
Cannabis market leader Canopy Growth names Constellation Brands’ CFO as its new CEO
Shares soar 13% as CFO of Canopy’s biggest shareholder takes the helm Canopy Growth Corp. said Monday it has named David Klein, currently chief financial officer at its biggest shareholder, Constellation Brands Inc., as its new chief executive, taking over from Mark Zekulin on January 14. The news sent the U.S.-listed shares up about 13%. […]
Cross-border Cannabis: The Potential Impact of Anti-Money Laundering Laws on International Cannabis Deals
When it was announced in April 2019, Canopy Growth Corp.’s conditional deal to purchase Acreage Holdings Inc. raised eyebrows not only because of its price tag (potentially exceeding US$ 3 billion in total consideration), but also because of the transacting parties’ apparent willingness to test the boundary of U.S. anti-money laundering law (“AML”). Canopy is a […]
Martha Stewart distances herself from ‘cannabis’ ahead of CBD product launch
Martha Stewart commands a massive audience when she cooks, decorates, gardens and appears on television with Snoop Dogg. But the 77-year-old food and lifestyle guru has been tight-lipped about her personal use of cannabis. That took on greater meaning after Canopy Growth Corp. (WEED.TO, CGC) announced in February that Stewart was taking an advisory role at […]
These are the biggest threats to the cannabis industry, according to top CEOs in the space
The nascent marijuana industry has made significant strides over the past several years. Illinois is poised to become the 11th state to allow recreational cannabis sales, after lawmakers last week voted to pass legislation considered to represent the most progressive adult–use bill in the country. The passage of the Farm Bill late last year legalized hemp and declassified it […]
Canopy Growth to Build First U.S. Hemp Plant in New York State
Canopy Growth Corp. will spend as much as $150 million to build its first production facility in the U.S. after the Canadian cannabis company was granted a hemp license by New York state. The U.S. farm bill legalized hemp and hemp-derived cannabidiol last month, creating a rush among Canadian pot firms that were previously unable […]
Pot Is Becoming an Earner for Once Reluctant Toronto Law Firms
Sector has seen 27 deals worth $10.6 billion this year, Davies Ward leads Canadian law firms in cannabis M&A work The legalization of cannabis in Canada may have diminished the need for criminal lawyers, but it’s created a booming business for the country’s most prestigious corporate law firms. The cannabis sector has seen 27 major deals […]
The Statistic in Tilray’s Prospectus That Should Have Marijuana Stock Investors Salivating
Chances are you probably overlooked this big-picture figure prior to Tilray’s initial public offering. In case you haven’t noticed, marijuana stocks are blazing hot once again. This budding industry has taken flight on the expectation of rapidly rising sales and big profits tied to Canada’s legalization of recreational marijuana in 36 days’ time. When it […]
Constellation Brands to invest $5-billion to boost stake in Canopy Growth
Constellation Brands has signed a deal to invest $5-billion in Canopy Growth Corp. to increase its stake in the marijuana company to 38 per cent and make it its exclusive global cannabis partner. Under the agreement, Constellation, a global producer of beer, wine and spirits, will acquire 104.5 million Canopy shares at a price of […]
Canada Is About to Inhale the Global Pot Market. Thanks, Jeff Sessions.
In the dark of a frigid February morning on the outskirts of Ottawa, Canada, a convoy of trucks pulled up to the loading docks of a refurbished Hershey’s factory that’s now the headquarters of the world’s largest marijuana company—Canopy Growth Corp. Horticulturists in Tyvek suits began loading the vehicles with unmarked boxes, each the size of […]
