Another billion CCash is king in the right hands and it looks like anticipation is very high that the US is going to swing open the doors or that Canopy is going to barge through them. The onerous Federal descheduling of marijuana may be tossed aside in favour of State law protection imho. I haven't noticed one incident of the Feds over-riding State permissions and there are several well established MSOs that have been built with reliance on State protection. Not to mention Canadian LPs who are starting to lean towards the same reliance, although a bunch of them backed off when it was first announced by the NYSE that they would pull listings of stock symbols for anybody handling the products.
Rumour was that it was just a couple of lawyers that raised the alarm and the TSE jumped on board, totally ignoring the fact that it is a Canadian exchange and protected by the legalities of Canadian law.
At any rate, this $1 billion financing that Canopy has just secured through King is a big deal and speaks volumes for the direction we are headed. The US is the big enchilada and will consume huge amounts of dollars to convert the bricks and mortar and IP to cash flow and profit. For the volume I anticipate with the imminent US greenrush launch, Canopy is going to need production facilities for the big profit generators, especially beverage manufacturing facilities which Canopy is pushing hard.
Don't forget that we have Constellation Brands taking controls of Canopy and they are beverage giants that will bring their business accumen to Canopy and they are already well experienced in US beverage businesses.
I view this recent arrangement of securing financing as very positive for the US doing what is necessary to legalize marijuana such that like minded companies will be able to function and thrive with access to all the business tools available to others, especially Big Alcohol. glta and dyodd