Klein on Acreage PabloZuanic
David, just going back to the US. I appreciate your conviction that you will be able to sell cannabis in the US before year end. I mean if that's the case and looking at the context of the Canadian stocks in January, February have actually outperformed the US stocks, why not lock other deals right now with other MSOs, right? Because, sure, we could say way to take control of Acreage, year end and then use that an acquisition vehicle. But by then, valuations will even be higher for the US stocks, of course, right? So just that's the question. The other thing I’d add also maybe a reminder why Acreage and TerrAscend are the right assets for you in the US? In TerrAscend, it's only a 20% stake, you have Jason while doing business with Bruce Linton at Gauge Cannabis, Acreage, it's a bit of a retrenchment mode. So just some color there would help?
DavidKlein
So some good points there, Pablo. So I think as it relates to the US, we think that Acreage has put itself on a really strong path, especially with its concentration on the Northeast, if we think that we have permissibility or legalization actually in New York state. A massive market, likely in our view, will be only second to California over time. And so we like that positioning there. And as I said in my prepared remarks, we like Peter Kelvin. We think he's a really strong operator. And so we don't rule out Acreage actually looking at other potential acquisitions in the US to expand their footprint. And as it relates to TerrAscend, we think that's just a really well run business. And we're highly respectful of what Jason Wild and Jason Ackerman have been able to do in that business. And we think that those businesses in and of themselves can create a lot of value for us at some point down the road.
In the interim, we're somewhat limited in what we can do in the US, but that doesn't mean we're not doing things like building out our routes to market, building our production infrastructure and keeping our eye very closely on the market, developing products specifically for North American consumers that will test out in Canada and be able to bring to the US. So we feel like we have a lot of good things going on that will unlock value for our shareholders even if we can't be in the plant touching business during this calendar year. But if we can, we think then that's a super exciting position to be in.
Canopy Growth Corporation (CGC) CEO David Klein on Q3 2021 Results - Earnings Call Transcript | Seeking Alpha