Canada’s cannabis giant, Canopy Growth Corp, has made a public announcement in which they support the free market plan which is supposed to go into action in Manitoba come July 2018.
The decision by the Government of Manitoba to allow for private retail distribution of cannabis was opposed only by the Manitoba Government and General Employees’ Union.
Cannabis producers Delta 9 and Canopy Growth plan to work together within boundaries of the proposed Manitoba framework.
The cannabis giant recently sold nearly 10% of its shared to Constellation Brands, most likely in order to get into the cannabis-infused drinks market.
Both Canopy Growth and Delta 9 say it is their responsibility as responsible existing cannabis businesses to provide Manitobans with quality, locally grown recreational cannabis.
“As provinces continue to roll out distribution and retail strategies we are starting to gain a clearer understanding of our operational needs leading into next year,” said Mark Zekulin, the President of Canopy Growth.
Even though this plan is announced solely for Manitoba so far, both Canopy Growth and Delta 9 plan on having operations outside of the province.
“As a cannabis producer headquartered in Winnipeg, our team is very pleased at the prospect of expanding our operations to include physical locations in addition to our existing e-commerce solution,” said Delta 9 Co-Founder and CEO John Arbuthnot.
Canopy Growth (TSX: WEED) Shares Moving On Volume
Canopy Growth Inc shares yesterday have moved a lot. On closing, November 6th the price per share was nearly 17 CAD, and it climbed to 21 CAD today.
This is happening most likely due to the fact that Canopy Growth has reached a deal with Farm to Farma, in which they signed a definitive licensing agreement for the for FTF’s innovative Trokie® lozenges.
“We are very pleased to have entered into this license agreement for the Trokie® lozenges, a cannabis product that we believe has broad medical and legal adult access market opportunities,” said Mark Zekulin.
Farm to Farma Inc. plans on combining Canopy Growth’s vision for the future of cannabis in consumer products, and their own unique line of products in order to position themselves as the most-respected cannabis company in the world.
Farm to Farma will be adding products such as transdermal patches and capsules to the suite of products available under the Trokie® brand.
This deal with Farm to Farma is the latest and probably not the last Canopy Growth will be making. Just recently they signed a deal with a cannabis growing company from Brittish Columbia.
The BC Greenhouse Operator is to be given $20 million USD cash and 310,316 common shares of Canopy Growth over two tranches, and a further $2.75 million worth of common shares in two remaining tranches.