Canopy Growth

45 marijuana firms join forces to set industrywide environmental, ethical goals

An alliance of 45 large marijuana businesses wants the public to know they’re good corporate citizens. The Global Cannabis Partnership, which includes Canada’s Canopy Growth Corp., issued guidelines aimed at minimizing greenhouse gas emissions and promoting ethical conduct and responsible cannabis use. The emerging marijuana industry is “in a unique position to set a new […]

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Marijuana Business This Week: Canopy, Acreage shareholders vote, Springfield selects, OK inspects & more

Here are some notable stories and events to watch for in the coming days: DAY OF DECISION: Shareholders of Canopy Growth and Acreage Holdings are scheduled to vote Wednesday on the much-heralded megamerger of the two companies. If consummated, it would become the first major Canadian/U.S. cannabis transaction. Each company’s shareholders will vote separately. At least […]

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Aurora, Canopy are Canada’s ‘most reputable’ cannabis firms, survey finds; others rank far behind

Alberta-based Aurora Cannabis edged out Ontario’s Canopy Growth as the most reputable marijuana company in Canada, according to a first-of-its-kind survey by market research firm Leger. The survey – conducted from December 2018 to February 2019 – reflects the reputations of cannabis producers in the opening innings of legalization. The marijuana companies were included as […]

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Cannabis capital ‘rotating’ away from Canada to United States, analyst says

Marijuana businesses and investors seeking higher returns and more potential are looking beyond Canada’s relatively small and highly regulated market, according to analysts covering the still-nascent industry. “Many investors we have spoken to have begun to rotate capital from Canada to the U.S. on the fear that Canadian players will be unable to capture growth […]

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Multistate cannabis firm Acreage reports first-quarter net loss of $31.2 million

Acreage Holdings, a New York-based multistate cannabis operator, reported quarterly revenues of $12.9 million for the three months ended March 31, 2019. The company also reported a net loss for the period of $31.2 million. The company did not disclose in its news release how this compared to revenue and profit/loss for the year-ago period. […]

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Acreage to sell cannabis real estate assets to newly formed REIT

New York-based marijuana company Acreage Holdings said it agreed to sell cannabis-related real estate to a newly formed real estate investment trust (REIT), GreenAcreage Real Estate Corp., under a leaseback agreement between the two companies. The price wasn’t disclosed. Acreage holds a 20% interest in GreenAcreage Real Estate Corp. (GARE). Acreage CEO Kevin Murphy also […]

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Danish medical cannabis market sees significant growth in first year

The number of patients who received medical cannabis prescriptions in Denmark more than tripled in the initial year of the country’s program, exceeding expectations of executives in the country. However, more needs to be done to lower prices, expand product selection and further improve access, the executives said. Prescriptions of medical cannabis products in Denmark […]

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Canopy acquires German cannabis company C3 for $253 million

Canadian marijuana giant Canopy Growth has acquired Germany-based C3 Cannabinoid Compound Company from Bionorica in an all-cash deal for 226 million euros ($253 million). The deal is one of the largest cannabis acquisitions in the European market to date. C3 generated revenue of $30 million in 2018 from five products, according to a news release. The subsidiary […]

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Canadian marijuana firm Canopy Growth set to build NY hemp facility this summer

Canopy Growth, a leader in the Canadian marijuana industry, will enter the U.S. cannabis market by building a $150 million industrial park in Kirkwood, New York, for the manufacture of hemp products. Company officials said Monday that construction will begin this summer on a 308,000-square-foot facility on a 48-acre property near the Pennsylvania border. Canopy announced in […]

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