Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

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Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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This post was updated on .
NEWS INSIDERS

Constellation Brands spending $5B to increase stake in Canopy Growth

Business
National

by The Canadian Press

 Last Updated Aug 15, 2018 at 8:01 am EDT

    Constellation Brands has signed a deal to invest $5 billion in Canopy Growth Corp. to increase its stake in the marijuana company to 38 per cent and make it its exclusive global cannabis partner.

    Under the agreement, Constellation, a global producer of beer, wine and spirits, will acquire 104.5 million Canopy shares at a price of $48.60 per share.

    Canopy shares closed at $32.15 on the Toronto Stock Exchange on Tuesday.

    “Over the past year, we’ve come to better understand the cannabis market, the tremendous growth opportunity it presents, and Canopy’s market-leading capabilities in this space,” Constellation Brands chief executive Rob Sands said in a statement.

    “We look forward to supporting Canopy as they extend their recognized global leadership position in the medical and recreational cannabis space.”

    The investment follows a deal last year that saw Constellation acquire a nearly 10 per cent stake in Canopy for $245 million.

    The agreement Wednesday will see Constellation nominate four directors to Canopy Growth’s seven-member board of directors.

    Constellation is also receiving 139.7 million new warrants, which are exercisable over the next three years. If Constellation exercises all of its existing and new warrants, its ownership in Canopy would exceed 50 per cent.

    “Our business can now make the strategic investments required to accelerate our market position globally,” Canopy chairman and co-chief executive Bruce Linton said in a statement.

    “Constellation’s concentration of global cannabis activities exclusively through Canopy, coupled with the investment and its expert capabilities in brand-building, marketing, consumer insights and M&A will be a huge benefit as we look to expand our portfolio in Canada, the United States and emerging cannabis markets around the globe.”

    The investment, which is expected to close by the end of October, is subject to customary closing conditions, including Canopy shareholder approval and regulatory approvals.

    The investment deal came as Canopy reported a loss of $80.3 million or 40 cents per share for the quarter ended June 30 as it continued to ramp up its operations ahead of the legalization of recreational marijuana in Canada later this year.

    The loss compared with a loss of nearly $9.1 million or six cents per share a year ago.

    Revenue for the three-month period totalled $25.9 million, up from nearly $15.9 million in the same quarter a year earlier.
 
canopy growth|constellation brands

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note from canadiana:there is a short video commentary on the link below.

https://www.680news.com/2018/08/15/constellation-brands-canopy-growth/
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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And ex Mexican President Fox joins another Board of Director's Canadian Pot company this 1 out of Columbia for medicinal and grows pot crops on his ranch.
https://mexiconewsdaily.com/news/marijuana-firm-names-ex-president-to-its-board/?utm_source=Mexico+News+Today&utm_campaign=a521a01763-newsletter_COPY_01&utm_medium=email&utm_term=0_f1536a3787-a521a01763-349512513
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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This post was updated on .
The DEA gave the OK for the biggest pot company worth more than American Airlines to ship south of the border (US/Canada border)to do medical research and the stocks are going crazy!Less than a month away til pot legalization and that's all the news talks about up here.Even Coca Cola wants to get in on the action!I really think this is all about the big conglamorites taking over small companies which there won't be any left and at the end of a year or 2 it's all about which 'big box store' stands.

http://www.msn.com/en-ca/money/topstories/how-the-canadian-cannabis-company-tilray-became-worth-more-than-american-airlines/ar-BBNA7t6?li=AAggNb9&ocid=iehp
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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In 8 days most of the  west coast north of Mexico will have legalized recreational pot clean up to Alaska.Will it become the 'new Amsterdam' after 'pot tourism' travel companies get on board to promote?Interesting.
https://www.msn.com/en-ca/money/topstories/will-pot-tourism-be-a-boon-to-economies-or-be-a-blight-on-communities/ar-BBO86Ge
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

ElGrandeRojo
The govs are finally realizing how much revenue they can make with legalization. I have a small rec shop in a rural area in Western Wa. I did 1.2 mill in sales last yr, and will do about 2.3-2.5 mill this yr. The gov gets about a third at the end. I'm a small shop with hudreds of competitors (legal) within an hour. Do the math. Was, and Colo. paved the way. Our economies are booming.
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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With pot federally legal in the 1st G7 country to legalize in less than 26 hours away (Canada) from the New York Times here's what California's recreational pot industry is doing.

http://www.msn.com/en-ca/news/cannabis/dear-canada-this-is-what-marijuana-legalization-looks-like-in-california/ar-BBOq2Q9?li=AAggNb9&ocid=iehp#image=BBOq2Q9_1|5
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

ElGrandeRojo
It's crazy ...I never thought legalization would ever happen.
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

leChef
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As Canada legalizes pot, other countries likely to follow

By:  GENE JOHNSON

More than two dozen countries have relaxed their marijuana or other drug laws, and a number could consider legalizing in the not-too-distant future. The South American nation of Uruguay was first to legalize marijuana in 2013. Canada became the second on Wednesday and its size and global standing likely will encourage others to follow. Here's a look at other nations that could be influenced by Canada's legalization:

NEW ZEALAND

The government announced late last year that medical marijuana would be allowed, and the country is due to hold a national referendum by 2020 on whether to legalize and regulate adult use of marijuana. The exact language and scope of the referendum question remain unclear.

"That they've agreed to have a referendum shows how far the debate has come in New Zealand," says Steve Rolles, a senior policy analyst at Transform, a global drug law reform organization based in England. "And the fact they have a model in Canada — a country they have good relations with, that they're quite similar to culturally — can only help the reform cause."

For now, recreational cannabis remains illegal, with possible penalties ranging from a $500 fine for possession to a 14-year jail term for its growth or distribution.

___

MEXICO

Ravaged by drug war violence and corruption, Mexico decriminalized the possession of small amounts of marijuana and other drugs in 2009. A series of Mexico Supreme Court rulings beginning in 2015 began laying the groundwork for marijuana legalization by holding that people should have the right to grow and distribute marijuana for personal use.

The country's incoming interior minister, Olga Sánchez Cordero, participated in some of those rulings as a Supreme Court justice and has said she will push for broad marijuana legalization. She has the blessing of incoming President Andres Manuel Lopez Obrador, who won office in July and whose party controls both houses of Mexico's Congress.

"Mexico is really the significant comer in this debate," says John Walsh, of the advocacy group Washington Office on Latin America. "It's likely they'll be debating legislation to regulate their national cannabis market next year."

Former President Vicente Fox, who calls himself a soldier in the global campaign to legalize marijuana, earlier this year joined the board of directors of venerable cannabis publication High Times to advance his agenda.

___

THE NETHERLANDS

Hoping to keep pot users away from dealers of harder drugs, the Netherlands in the late 1970s began allowing "coffee shops" to sell marijuana. The shops remain a popular attraction, especially in Amsterdam, but the drug remains illegal elsewhere in the country and purveyors have long complained about having to resort to the black market to obtain it since cultivation is outlawed. Critics say the system has allowed criminal organizations and money laundering to persist.

That could be changing. The new Dutch government has committed to a trial program by which it will license a producer to provide marijuana in six to 10 cities.

___

SOUTH AFRICA

South Africa's Supreme Court ruled last month that adults can use marijuana and grow it for personal consumption — in private.

It remains a conservative country, but Rolles says the ruling, combined with Canada's move, has "opened the door for a more serious debate about how legalization might proceed in South Africa."

___

ITALY

Reform advocates have been promoting marijuana legalization in Italy for years, without success. But in late 2016, a law legalizing production of hemp — a very low-THC version of cannabis favored for myriad industrial uses — took effect. Since then, the dried flowers of those plants have been sold in some shops, giving supporters new hope for future legalization efforts.

A marijuana regulation measure has been making its way through Italy's parliament and still needs support from more legislators. Italy could be a "dark horse in the race to be the first country to legalize in Europe," Rolles says.

___

UNITED STATES

With its northern neighbor legalizing and its southern neighbor mulling it, can the world's most influential proponent of the drug war be far behind?

"I don't think Canada legalizing is going to move the ball with regard to legalization in the U.S., especially with this administration," says Hannah Hetzer, who tracks international marijuana policy for the New York-based Drug Policy Alliance.

While President Donald Trump has said he would likely support a congressional effort to ease the federal prohibition, his attorney general, Jeff Sessions, is a marijuana critic and legalization opponent.

For decades the U.S. required other nations to cooperate in the drug war or risk losing foreign aid, even as some Latin American countries wracked by violence criticized America for failing to curb its appetite for cocaine, marijuana and other drugs. Now, more than 30 states have OK'd the medical use of marijuana, and nine have approved recreational use by adults. Two more states — North Dakota and Michigan — have ballot measures on recreational legalization next month.

Canada's legalization has left proponents in the U.S. calling for Congress to act. Sen. Ron Wyden, a Democrat who represents Oregon, one of the legal marijuana states, called prohibition a "failed policy that wastes resources and destroys lives."

"Now that our neighbor to the north is opening its legal cannabis market, the longer we delay, the longer we miss out on potentially significant economic opportunities for Oregon and other states across the country," he said in a written statement.

Source:
https://www.wane.com/news/national-world/as-canada-legalizes-pot-other-countries-likely-to-follow/1532993917
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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I guess legalization day yesterday a lot of stock was sold out and stores closed.There is going to be a shortage legal kind anyway as they said it takes 4 months to grow stock and not enough stores yet approved and approvals are still ongoing for grows.There was hardly any other news on the news yesterday except the pot subject completely saturated all news sources.
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

ElGrandeRojo
It was the same here first few weeks....prices were sky high for awhile, now...dirt cheap...you can get a lb of the best shit on Earth for 900-1k.....Real good stuff,10x better than anything grown outdoors anywhere on Earth I sell for $125 oz....my avg sales.now are $3800 a day....7 days a week.Im taxed a total of 34.2% after my deductions. So the gov is making bank. My shop is 800sq ft in a rural area. I'm a tiny fish.
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

canadiana
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This post was updated on .
Wow that's pretty good sales for a small shop!The business of the 'vice's' is where it's at!Like gambling machines in bars (1 armed bandits) I used to bartend in 1 and each machine pulls in $1,000 a day way more than the alcohol sales and this in a small lounge!
I did overhear on the news here that over 30 % of the population smokes pot!I was quite surprised it was that high and they also said 11% of the population smokes cigarettes so who outnumbers who now?I work in the federal housing industry and been dealing lately with many landlords (but not on this issue) and they volunteerily tell me they are extremely concerned and many immediately put clauses in their leases and more than 1 landlord that  previously allowed cigarette smoking even if it was only the balcony are banning all of it because they say there will be complaints about the smell and they will lose all their majority non smoking tenants.They are also worried about the 4 plants people are allowed to grow (mold,fire hazard).1 landlord said to me that has done it for 40 years said mental illnesses have exploded within the last 10 years in rentals and issues with that and now this.I thought of another thing that could be a can of worms.What if a medicinal pot guy has a prescription and he's the only 1 in the building that smokes pot.He cries discrimination because building won't allow him to take his medicine and can't do it in another form than smoke it as edibles are still illegal.He can't smoke it in his car and in some places not any public spot and he doesn't own his own place,he rents and landlord won't allow it well what's a guy to do?
Where does he do it?I could see these court cases coming up.
This opinion article from the Washington Post:
http://www.msn.com/en-ca/news/cannabis/opinions-justin-trudeau-now-owns-canada%e2%80%99s-marijuana-mess/ar-BBOzPwp?li=AAggNb9&ocid=iehp
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

ElGrandeRojo
I never dreamed that we would sell at this rate. There's still a huge black market here too. I used to grow illegally, and  would bring in about 40k USD, every 6-8 weeks. Good money 20 yrs ago, but was constantly scared of getting caught. You could do serious time for growing then. This is much better. Weird edibles aren't legal. Perhaps your neighbor could use a vaporizor. No smoke and very lil odor.  There will be lawsuits. If you pop a urine test say for a job, for pot, why is that different than drinking alcohol on your time. Makes no sense. Still a ways to go. Legal pot use is already showing signs of helping to reduce hard drug OD's, Domestic Violence, and most crime in general. Stoners don't cause trouble. They just want Doritos, and a movie or video game. I think they should test weed effects on prisoners. I bet there's be less violence, and trouble in general. Plus, it's cheap, non addictive pain relief.
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Re: Makers of Corona sink $5 billion into the largest cannabis company in time for national legalization in 2 months in Canada

Warpig
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I really hope Mexico and the U.S legalizes weed. It's time.