Canopy Growth signs deal to buy US pot giant Acreage Holdings

Canopy Rivers founder Chairman & co-CEO Bruce Linton is interviewed on the floor of the New York Stock Exchange Thursday

Canopy Rivers founder Chairman & co-CEO Bruce Linton is interviewed on the floor of the New York Stock Exchange Thursday

Since then, the pair have been making moves.

Canopy Growth Corp. has signed an agreement to buy US company Acreage Holdings Inc. Why else would a well-seasoned player such as Canopy Growth make a bet of $3.4 billion in this market?

The Acreage acquisition is contingent on the USA legalizing pot at the federal level.

In laymen's terms, here's what the deal means, "This is Constellation's way to have a side door entry to the U.S. cannabis market when it becomes legal..."

Acreage has cannabis-related licences in 20 states.

Researchers discover ancient giant 'lion' Simbakubwa
Borths", said Daniel Marenda, a program director at the National Science Foundation, which funded this research. At the same time, the ancient relatives of modern day cats, hyenas and dogs began to filter south.

Constellation controls more than 35 percent of Canopy, after boosting an existing stake last August, and owns warrants to increase its ownership. HEXO (HEXO), which has delivered strong returns so far this year, gained 2.2%, followed by Cronos Group (CRON), which was up almost 1.9%.

"We believe the emerging cannabis market represents one of the most significant growth opportunities of our lifetime".

A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018.

Once cannabis becomes federally legal in the USA and Canopy exercises its right, it will pay an additional 0.5818 of a Canopy share for each Acreage subordinate voting share. Nonetheless, the acquisition news of Acreage Holdings sends an important signal about the possibility of the United States market opening up to cannabis legalization in the near future.

Recommended News

  • Facebook Exposed Millions of Instagram Passwords

    Facebook Exposed Millions of Instagram Passwords

    At the time it said tens of thousands of Instagram users were affected but yesterday upgraded this to millions of users. From there they should choose the gear wheel icon for settings, then privacy and security and then password.
    MJ: Tiger's Masters win was 'greatest comeback I've ever seen'

    MJ: Tiger's Masters win was 'greatest comeback I've ever seen'

    Mentally, you always think you can. "He had to change his game; he had to change his perspective a little bit", Jordan said. He's won a tour event [the Tour Championship]. " His confidence is only going to build from here ".
    Marvel drama The Gifted cancelled

    Marvel drama The Gifted cancelled

    However, it didn't make the cut for Season 3 after losing nearly half its viewership over the course of the season. Scully are set up under overall deals at 20th Century Fox Television, which produced the show.
  • China growth beats forecasts as econ shows stability signs

    China growth beats forecasts as econ shows stability signs

    The reading easily beat analysts' estimates of 5.9 per cent and the 5.3 per cent seen in the first two months of the year. The nation's retail sales rose 8.7%, driven by strong demand for home appliances, furniture and building materials.
    Justice Dept. to end 'catch and release' detention for migrants

    Justice Dept. to end 'catch and release' detention for migrants

    Asylum seekers who presented themselves at legal ports of entry were already unable to be released on bond by immigration courts. Sessions resigned from his position in November, leaving the case to Barr to decide.
    Ohio State QB Baldwin to enter transfer portal

    Ohio State QB Baldwin to enter transfer portal

    Unlike Martell, Baldwin went through the spring season with all intentions of competing with Fields for the starting job. His departure leaves Ohio State with Fields and Chris Chugunov as its only quarterbacks under scholarship.
  • Mueller report: Things we only just learned

    Mueller report: Things we only just learned

    The special counsel's office looked to whether members of the Trump campaign coordinated with Russian election interference. Alexandria Ocasio-Cortez tweeted Thursday that she takes "no pleasure in discussions of impeachment".
    Kate Smith’s

    Kate Smith’s "God Bless America" out at Yankee Stadium over racist songs

    Known as the "Songbird of the South", Smith sold tons of World War II bonds by performing " God Bless America " during the 1940s. Smith also endorsed the " Mammy doll " in 1939, frequently cited as a racist caricature of African-American women.
    Pinterest shares jump 30pc as investors rush into $12.7bn IPO

    Pinterest shares jump 30pc as investors rush into $12.7bn IPO

    The market action comes amid an expect wave of "unicorns", or startups valued at over $1 billion, hitting the public markets. It earns money through advertisements, which are placed among the " pins " or posts that users upload on the site.
  • Zion Williamson helps parents-to-be with epic gender reveal

    Zion Williamson helps parents-to-be with epic gender reveal

    Nolan Elingburg works with the duke university's broadcasting department, the blue devil network. And he helped out as only Zion could, with a high-flying dunk, resulting with blue confetti.
    Report details camera enhancements for 2019 iPhones

    Report details camera enhancements for 2019 iPhones

    Renders of Apple's rear-facing triple camera system recently hit the web and the feedback hasn't exactly been positive. Both of these models will apparently use a 12MP sensor with ultra-wide lens manufactured exclusively by Sony.
    Kendall Jenner has 'awkward' run-in with Jordyn Woods at party

    Kendall Jenner has 'awkward' run-in with Jordyn Woods at party

    And while Kylie isn't cutting Jordyn out of her life entirely, she's also working to strengthen other friendships. Her latest venture has been a faux-eyelash line called Eylure x Jordyn Woods , which she promoted in March.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.