But it’s dependant on marijuana being legalized in America

The US$3.4-billion deal struck by Canadian pot producer Canopy Growth Corp. for an American cannabis company could inspire some copycats, even if it first requires that the production and sale of cannabis becomes federally legal in the United States.

Smiths Falls, Ont.-based Canopy announced Thursday that it had reached an agreement granting it the right to acquire 100 per cent of the shares of New York-based Acreage Holdings Inc., a multi-state cannabis operator that has dispensaries, cultivation sites and processing facilities located across the U.S.

Canopy’s proposed acquisition of Acreage first requires, however, that there be federal legalization of cannabis in the United States, a press release said.

Read full article here.

Geoff Zochodne – National Post – April 18, 2019.

LEAVE A REPLY

Please enter your comment!
Please enter your name here