(This story has been updated from an earlier version.) Canopy Growth, a Canadian medical marijuana giant, is taking a massive 5 billion Canadian dollar ($3.8 billion) investment and going all in on worldwide medical and recreational cannabis business opportunities, the company’s CEO, Bruce Linton, said Thursday during an exclusive, wide-ranging question-and-answer session at MJBizConINT’L in Toronto. Constellation Brands […]
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‘Global paradigm shift’: International cannabis business opportunities will accelerate
Hours after Constellation Brands announced its marijuana-industry-record investment of 5 billion Canadian dollars ($3.8 billion) in Canada’s Canopy Growth, experts told cannabis entrepreneurs and investors at MJBizConINT’L in Toronto on Wednesday that global cannabis business opportunities will rapidly accelerate. The move by Constellation – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert […]
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Constellation invests CA$5 billion in cannabis giant Canopy in deal financed by BofA Merrill Lynch
Global liquor giant Constellation Brands plans to significantly increase its ownership in Canopy Growth by investing an industry-record 5 billion Canadian dollars ($3.8 billion) to make the marijuana titan its exclusive global MJ partner. Constellation will acquire 104.5 million shares directly from Canopy Growth for CA$48.60 per share, giving the New York-based company – which owns, […]
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Turning a marijuana pipe dream into a multimillion-dollar head shop: Q&A with Smoke Cartel CEO Darby Cox
In a Savannah, Georgia, warehouse, Smoke Cartel employees file through rows of vaporizers, dab rings and torches, hustling to fill online orders from head shops, dispensaries and consumers across the United States. It’s an operation that less than five years ago began as wishful thinking – launched from the living room of Smoke Cartel co-founders […]
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California marijuana testing labs say product recalls unlikely to be a major concern
A pair of voluntary California cannabis product recalls in late July sparked concerns in the industry that other companies would be put in similar situations – and end up spending time and money to ensure their products arrived on retail shelves. Three testing lab executives told Marijuana Business Daily that such fears are likely overblown […]
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Chart: How much consolidation awaits Colorado’s retail marijuana market?
Colorado’s retail marijuana sector has seen more consolidation as it’s matured, but relative to more established industries, it remains a highly competitive and open market. It’s a reminder that the dust has yet to settle in the nation’s most developed legal marijuana market – and there will likely be far more consolidation in the years ahead. […]
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Ontario scraps government monopoly, adopts private retail plan for adult-use cannabis market
Ontario’s new retail framework for recreational cannabis will start with online-only sales when legalization takes effect Oct. 17, with a network of privately owned stores expected to be in place by April 1.
The new retail plan, first reported by Marijuana Business Daily, is a complete overhaul of the previous government’s commitment to opening only a small number of publicly owned stores.
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Week in Review: New Ohio processing licenses, CA marijuana black market & Florida judge nixes MMJ business cap
Ohio awards provisional medical marijuana processing licenses, a cannabis consumer survey in California confirms licensed MJ businesses are losing market share to illicit operators, and a Florida judge says a state law restricting the number of MMJ businesses runs afoul of a voter-approved constitutional amendment. Here’s a closer look at some notable developments in the […]
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