Shepherd Shepherd HUGO asphalt 26882 - Slippers - asphalt 1be358b

Shepherd Shepherd HUGO asphalt 26882 - Slippers - asphalt 1be358b -

Shepherd Shepherd HUGO asphalt 26882 - Slippers - asphalt 1be358b
Business, Grow, News & Policy, News Canada's largest cannabis company pens historic $5 billion deal
Diadora GAME BOLDER - Trainers - whiteGlobe MAHALO - Skate shoes - rust/tobacco , Cruyff RIPPLE RUNNER - Trainers - black , Levi's? CHULA VISTA - Trainers - blackSteve Madden COHEN - Trainers - whiteSteve Madden BERWICK - Trainers - white/redNew Balance ML574 - Trainers - dan/navy , Tommy Hilfiger MAXIMILIAN - Trainers - black , Pro-Keds ROYAL CLASSIC - Trainers - blackTommy Hilfiger LEON - Trainers - midnightAsics Tiger GEL-LYTE - Trainers - white/peacoat , Calvin Klein NAPOLEON - Trainers - midnightGlobe TILT EVO - Trainers - black/redecco ENNIO - Slip-ons - dark shadow , Lacoste CARNABY EVO - Trainers - white/navy , Skechers Sport MARAUDER - Trainers - grayKentucky's Western Cowboy/Biker boots - tahore arce , Tommy Hilfiger JUUSO - Trainers - midnightPalladium AXEON MID - Trainers - black , Skechers Sport SUNLITE - Trainers - navyBj?rn Borg R106 - Trainers - black , Puma TE-KU PRIME - Trainers - peacoat/white , Millet AMURI - Climbing shoes - black/noir , Diadora B.ELITE - Trainers - white/blue denimK-SWISS ADDISON - Trainers - white/oxblood/lunar rock , Asics Tiger GELSAGA - Trainers - birchScarpa MOJITO - Walking shoes - lakeblueK-SWISS COURT FRASCO - Trainers - brown , Iro CURVE RUNNER - Trainers - black
Peter Nolan-Smith Aug 15, 2018 9:10 am 3,429

Canada’s largest cannabis company has announced they have closed the biggest deal in the history of the legal cannabis industry.

Constellation Brands, the alcoholic beverage company behind such brands as Corona and Svedka Vodka, announced today that they are acquiring 104.5 million shares of Canopy Growth, the country’s largest cannabis producer, for a total of $5 billion CND.

See also

This will increase Constellation Brands ownership interest in Canopy Growth to approximately 38%. The shares are being bought at a price of $48.60 each, which is a 51.2% premium to the closing price on August 14, 2018. The announcement caused Canopy’s stock price to shoot up by over 30% this morning.

“This is rocket fuel,” said Bruce Linton, Chairman and Co-CEO of Canopy Growth, on a company earnings call on Wednesday. “We’re going to be way more global.”

This investment, the largest to date in the cannabis space, will provide a financial means by which Canopy Growth plans to continue to build and acquire assets to expand into the nearly 30 countries pursuing federally permissible medical pot programs.

“Through this investment, we are selecting Canopy Growth as our exclusive global cannabis partner,” said Rob Sands, CEO of Constellation Brands, in a release. “Over the past year, we’ve come to better understand the cannabis market, the tremendous growth opportunity it presents, and Canopy’s market-leading capabilities.”

“We look forward to supporting Canopy as they extend their recognized global leadership position in the medical and recreational cannabis space.”

Founded in 2013, Canopy Growth has become a leader in Canada’s legal cannabis market. It has an established a global presence in 11 countries, while aquiring other names in Canadian pot like Tweed and Spectrum Cannabis.

“Our business can now make the strategic investments required to accelerate our market position globally,” said Linton. “Constellation’s concentration of global cannabis activities exclusively through Canopy, coupled with the investment and its expert capabilities… will be a huge benefit as we look to expand our portfolio in Canada, the United States and emerging cannabis markets around the globe.”

Canopy Growth will remain a Canadian company with its headquarters in Smiths Falls, Ontario, and will continue to be led by its existing management team.

This deal follows the recent announcement by iconic brewer Molson and Canadian cannabis company Hydropothecary that they would be forming a strategic partnership to produce a non-alcoholic beverage infused with cannabis. Neither Constellation or Canopy have indicated if they intend to produce a similar product.

Get direct access to our top weekly content, contests, and perks.

Bruno Premi Ballet Flats - Women Bruno Premi Ballet Flats online on YOOX United Kingdom - 11463374HB , Nike Performance TIEMPO LUNAR LEGENDX 7 PRO IC - Indoor football boots - black/pure platinum/light crimsonCole Haan White Buckle Heels Sandals , Converse CHUCK TAYLOR ALL STAR SYDE STREET blackLiu ?Jo Shoes Ankle Boot - Women Liu ?Jo Shoes Ankle Boots online on YOOX United Kingdom - 11515210KBColors Of California Sneakers - Women Colors Of California Sneakers online on YOOX United Kingdom - 11484025DTmens/womens Nine West Cedar Boots Direct businessman/woman Pikolinos Bali W3L-0922 Heels Acknowledgement feedbackman/woman Clergerie Moots Boots New in stock , mens/womens Sergio Rossi Tea Boots Primary quality , MM6 Maison Margiela Metallic Wide Heel Mule , mens/womens Baretraps Addye Boots Comfortable touch , Zign Slip-ons - dark blue , Adidas POPA ARRECIFE - Platform sandals - silver/blackChi Chi London ELLIE - High heels Colour: black , Men/Women J. Renee Classic Heels Big clearance salePrimabase Sneakers - Men Primabase Sneakers online on YOOX United Kingdom - 11579849HC , Lagoa Espadrilles - Men Lagoa Espadrilles online on YOOX United Kingdom - 44967456PWBikkembergs Sneakers - Men Bikkembergs Sneakers online on YOOX United Kingdom - 11142974KB , Balenciaga Sneakers - Men Balenciaga Sneakers online on YOOX United Kingdom - 11480656RVman/woman SKECHERS Street Traffic - Shoetopia Sneakers & Athletic SKECHERS Street online shopValentino Garavani Boots - Women Valentino Garavani Boots online on YOOX United Kingdom - 11425165JBFitFlop White and Tan A96-194 SandalsMISS Coconuts Shabby Wedges Modern technologyqcqnbr5h Marsell Burraccio Zip Detail BootOrder welcome Anne Klein RosalieSelected materials Bed Stu Charles , Clergerie Laorap Take a chance! The Laorap from Robert Clergerie will keep you sleek and chic. , ladies Frye Burgundy Wedges Easy to clean surface , Ladies Max Mara Ivory Thong Sandals Great classification , 38aa74f73324dc8bea2c9471bbcae5a1?s=96&d=mm&r=g
Peter Nolan-Smith

Shepherd Shepherd HUGO asphalt 26882 - Slippers - asphalt 1be358b -

Peter is the Online Editor at Daily Hive Toronto. He's deeply interested in fringe political movements, issues around cannabis reform and your latest news tip ([email protected]).