1933 Industries Inc C.TGIF

FROM BNN this week

[jfogarty12]

THIS WEEK'S TOP STORIES
 

Georgia Senate runoff results show clear pathway for U.S. cannabis legalization

Georgia was on a lot of people's minds this week after the U.S. state's Senate race resulted in two more Democrats joining the legislative body, giving the party control over both houses of Congress as well as the White House. That is expected to result in a clear pathway for cannabis to be legalized in the U.S. sometime in the next couple years, as a Democrat-led government is expected to move quickly to introduce pro-cannabis legislation. Pot stocks on both sides of the border rallied in the wake of Georgia's results, with several U.S. companies taking advantage of the rise in sentiment and raising millions of dollars in fresh financing to help fuel further growth. 

Canopy Growth CEO expects U.S. expansion to occur later this year 

And U.S. legalization may happen sooner than that, according to Canopy Growth's CEO. In an interview with BNN Bloomberg, David Klein expects Canopy to be operating in the U.S. by the end of the year once cannabis is deemed to be federally permissible. That should see Canopy wholly acquire Acreage Holdings while take a long look at expanding its presence through its ownership stake in TerrAscend. Canopy is also working "closer than ever" with its main financial backer Constellation Brands, with Klein expecting the beer maker to exercise its warrants to take majority control of the pot giant sometime after U.S. legalization occurs