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Canopy Growth Corp T.WEED

Alternate Symbol(s):  T.WEED.DB | CGC

Healthcare Drug Manufacturers - Major Cannabis Cannabis
Canopy Growth Corporation is a cannabis company. It delivers innovative products with a focus on premium and mainstream cannabis brands, including Doja, 7ACRES, Tweed, and Deep Space, in addition to category-defining vaporizer technology made in Germany by Storz & Bickel. The principal activities of the Company are the production, distribution and sale of a diverse range of cannabis and cannabinoid-based products for both adult-use and medical purposes under a portfolio of distinct brands in Canada. Its Canada cannabis segment includes the production, distribution, and sale of a range of cannabis, hemp, and cannabis related products in Canada. International markets cannabis segment includes the production, distribution, and sale of a range of cannabis and hemp products internationally. Storz & Bickel segment includes the production, distribution, and sale of vaporizers. This Works segment includes the production, distribution and sale of beauty, skincare, wellness and sleep products.


TSX:WEED - Post by User

Canopy Growth Corp > Eight Capital comments on Canopy Growth Corporation
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Comment by Rotalucepson Oct 27, 2022 9:26pm
186 Views
Post# 35054891

RE:Eight Capital comments on Canopy Growth Corporation

RE:Eight Capital comments on Canopy Growth Corporation


We believe a takeout by Constellation Brands (STZ; NR) has become less likely. To maintain legal cover and sufficient distance from US plant touching operations, STZ is distancing itself from WEED by 1) converting all of its WEED common shares (35.7% stake) into new exchangeable shares, 2) forfeiting its remaining warrants, which were sufficient to take a control position, 3) withdrawing its representation from WEED’s board of directors, and 4) severing all commercial agreements with WEED. It is possible that WEED's new legal structure, with ring-fenced US assets owned via exchangeable shares, could make it easier for STZ to acquire full control of WEED while remaining compliant with exchanges and US law. However, we believe that their actions announced yesterday, along with STZ's comments that they "inten[d] not to deploy additional investment in Canopy" more likely signal that STZ is distancing itself from its flagging cannabis investment, at least for the foreseeable future.


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