The news today isHexo taking out Redecan for first place in Canada. Sadly, we are being over-run by ocd dominators seeing who can pisz higher on the pole than the other.
I haven't given up on Canopy and still give them big creds for being an innovative world leader in the cannabinoid business.
Canopy did recently take out FIRE but the rea exciting news is not in Canada but the deal to deal that is waiting on the "trigger" to decriminalize marijuana from Federal jurisdiction in the US. Canopy is proactively positioning, getting rid of deadweight and picking up better assetts but the big deal is the deal they have with Acreage Holdings.
Acreage Holdings in a US based MSO with a big footprint in 13 States with 30 dispensaries with 5 brands and 250 plus skus (products to sell to generate revenue). This is all that Canopy needs for their US launch which could be imminent through bills being presented and a Democrat controlled Senate and House that can vote this in.
The Canopy/Acreage deal is flying under the radar of marijuana and hemp investors to the poing that Acreage shares have been driven so low as to be considered a failure!
Canopy is moving hard on infused beverages as their bread and butter sku and have done branding deals with Acreage to get infused CBD products on shelves in the US with intentions of following up with THC infused.
The Hexo main man that announced the takeout of Redecan, specifically mentioned that they have infused beverages, so momentum for beverages is building.
The big money backer for Canopy and Acreage is Constellation Brands who have positioned themselves within a whisper of owning the controlling shares of Canopy and can take them out anytime they want and they filled Canopy's coffers with enough cash to support Acreage until they get profitable. This trifecta of companies is also backing Terrascend which is another US MSO with a lot of products and promise.
Constellation are the guys with the big stick and the US marijuana and hemp market is in their crosshairs. They are bringing profitmaking knowhow and discipline to the fledgling marijuana and hemp business. Don't make the mistake of them low profiling for inactivity. They were the ones to launch legitimacy for the greenrush with $5 billion Canadian to buy Canopy shares and put themselves in the driver's seat.
glta and dyodd