Brought to you by Daily Marijuana Observer
Canadian giant Canopy Growth Corp. (NYSE:CGC) (TSX:WEED) is poised to take another leap forward in its ongoing expansion into global cannabis markets. As of Thursday, April 18, 2019, the mega company secured the right to acquire Acreage Holdings, Inc. (CSE:ACRG.U) (OTC:ACRGF) for $3.4 billion – contingent upon cannabis legalization in the United States. Acreage is a multi-state operator that includes a diverse portfolio of cannabis cultivation, processing, and dispensing operations across the U.S. Its contribution to Canopy’s already extensive production facilities, well-known brands, and strategic assets will provide significant opportunity for new value creation. Naturally, this was not lost on the markets as both companies saw shares jump at news of the transaction.
In the meantime, Canopy can also continue to list its shares on both
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