Canopy Growth ($CGC) Accelerates Growth Strategy Into World's Fastest Growing Cannabis Market

Green Stock News LLC

 

Canopy GrowthTheNewswire - (CGC) has announced its U.S. growth strategy to accelerate entry into the United States cannabis industry.  Creation of the new subsidiary will trigger full ownership of its U.S. cannabis investments, which the company says will allow it to capitalize on a growing market opportunity projected to be valued at over $50 billion by 2026.

 

As part of the fast track strategy, Canopy Growth says it will exercise rights to acquire Acreage Holdings, a vertically integrated multi-state cannabis operator with core operations across the northeastern United States. 

 

Additionally, Canopy will move on its option to acquire 100% interests in both Wana and Jetty. Wana is vertically integrated in Colorado and has a rapidly growing licensing division across 13 additional states while also holding the #1 market share position in Canada. Jetty, meanwhile, is a California-based producer of high quality cannabis extract and clean vape technologies.

 

David Klein, CEO of Canopy Growth commented: "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.  We expect to unleash the full power of Canopy's scalable and ideally-positioned U.S. cannabis ecosystem to unlock potential expansion opportunities.”

 

Shares of Canopy Growth trade on the NASDAQ under the ticker symbol CGC. For more information visit www.greenstocknews.com.

  

Source: https://greenstocknews.com/newswire/canopy-growth-cgc-accelerates-growth-strategy-into-world-s-fastest-growing-cannabis-market

 

Disclaimer

 

This content is not financial advice and is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Video content and other materials including web content are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or materials that it publishes electronically.

 

View original video news clips here: https://greenstocknews.com/green-stock-newswire 

  

Copyright (c) 2022 TheNewswire - All rights reserved.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.