California Marijuana

SMITHS FALLS, Ontario – After posting a $2-billion loss for the second quarter, Canopy Growth Corporation is sideloading its American assets into a separate holding company that will be domiciled in the United States. Operating at arm’s length from the parent company, Canopy USA LLC will exercise Canopy Growth’s previously secured options to acquire Acreage Holdings , Wana Brands , and Jetty Extracts immediately instead of waiting for the U.S. to federally legalize as originally planned, allowing the company to monetize fallow investments. “As the growth of the U.S. cannabis market continues rapidly at the state level, this strategy enables us to take control of our own destiny and capitalize on the once-in-a-generation opportunity in the largest cannabis market in the world,” said Canopy Growth Chief Executive Officer David Klein. “We expect to unleash the full power of Canopy’s scalable and ideally positioned U.S. cannabis ecosystem to unlock potential expansion opportunities. Thi...