Canopy Growth

Canopy cannabis woes drives huge loss at alcohol giant Constellation

Published October 3, 2019

Constellation Brands, the New York-state based alcohol giant, on Thursday reported a net loss of $525.2 million in its most recent quarter, with most of the loss coming from its 38% stake in cannabis company, Canopy Growth. The red ink underscores the uncertainties mainstream companies face when partnering with a business involved in the emerging […]

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Linton back in cannabis business as chairman, investor and adviser

Published September 17, 2019

Ousted Canopy Growth co-CEO Bruce Linton is getting back into the marijuana business in a big way, resurfacing as a senior executive, investor and adviser in three separate companies in the U.S. and Canada. Linton is joining Michigan-based Gage Cannabis Co. as executive chairman, parent company Wolverine Partners said Tuesday. Gage said in a release […]

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Aurora Cannabis closes new loan deal worth as much as CA$200 million

Published September 11, 2019 | By Matt Lamers

Alberta-based Aurora Cannabis closed an expansion of a loan deal with three of Canada’s biggest banks, making it among the largest nonconvertible debt facilities in the marijuana industry to date, according to analysts. Aurora said it closed term loans worth an additional 160 million Canadian dollars ($120 million) with a syndicate of lenders led by […]

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Cannabis firm Atlas expands to Denmark, plans large indoor production

Published September 3, 2019 | By Matt Lamers

Edmonton, Alberta-based Atlas Biotechnologies is expanding to Denmark, where the Canadian producer plans to repurpose a sprawling indoor mushroom farm for medical cannabis cultivation. The initiative, expected to cost 40 million-50 million Canadian dollars ($27 million-$37 million), aims to be fully operational by the end of 2020. Atlas follows in the footsteps of Canada-based international […]

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Constellation expects $54 million loss from marijuana giant Canopy Growth

Published August 28, 2019

Alcohol giant Constellation Brands said it expects to report a $54.3 million loss in its quarter ending Saturday related to its stake in Canadian cannabis producer Canopy Growth. The six-month loss ending Saturday attributed to the investment in Smiths Falls, Ontario-based Canopy is expected to be $132.5 million, according to an 8-K filing with the […]

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Linton continues investing in marijuana giant Canopy after dismissal

Published August 20, 2019

Bruce Linton, the former co-CEO of Canopy Growth who was fired by the Canadian company last month, on Tuesday told CNBC’s “Squawk Box” he has since acquired more shares in the cannabis giant. “It was a right time for them to make the change, and it was the right time to buy the stock,” Linton said […]

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Marijuana giant Canopy’s revenues soar, but losses widen

Published August 14, 2019

The world’s largest marijuana company, Canopy Growth, on Wednesday reported improved revenue in its latest quarter, but its losses widened substantially from the same period a year ago. Smiths Falls, Ontario-based Canopy saw revenue rise 250% in the first fiscal quarter of 2020 to 90.5 million Canadian dollars ($67 million) compared with the same period […]

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Acreage reports improved cannabis revenue, net loss for quarter

Published August 13, 2019

Acreage Holdings, a New York-based multistate marijuana operator, on Tuesday reported net quarterly revenue of $17.7 million for the three months ended June 30, up more than five times from the same period last year. Net loss totaled $33.9 million for the company, which is due to be acquired by Canadian cannabis giant Canopy Growth […]

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Linton’s firing by Canopy follows string of losses, may raise concerns about cannabis sector-mainstream partnerships

Published July 3, 2019 | By Nick Thomas

Former Canopy Growth co-CEO Bruce Linton may have had suspicions about his future when a special board meeting of the Canadian cannabis giant was convened last Friday. Even though Linton was also Canopy’s chair, he didn’t call the meeting. By Wednesday, Linton was filling up his car with gas at Costco and contemplating his future […]

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