In a sign that marijuana has truly hit the big time, Smiths Falls, Ontario’s Canopy Growth Corp. (TSE:WEED) turned a lot of heads yesterday by announcing a partnership with beer and liquor giant Constellation Brands.
The move gives the US-based Constellation a ten per cent stake in Canopy and effectively signals to other producers in the burgeoning cannabis trade that the corporate world is finally warming up to the pot business.
Then why are fund managers still so cagey about marijuana?
It’s not about optics, for sure, the big players in Canada’s pot scene are run by folks who are pretty far from being hippy potheads in dreadlocks. By now, they’re all C-Suite execs with plenty of corporate experience: Bruce Linton is head of Canopy, Vic Neufeld is at Aphria, Barry Fishman is at ABcann —the list goes on.
Jayson Maclean – canatech letter – October 31, 2017.
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