Canopy CEO Bruce Linton said his company partnered with Acreage Holdings because that company’s board of directors “had a great deal of reputational risk if anything went funny. We knew for sure they’re going to be extremely well-governed because in the period of time from now until we bring them over.”
Bloomberg
- The founder of Cresco Capital Partners, an early Acreage shareholder, said he believed Canopy would give the company a capital boost without even closing the deal, which requires U.S. legalization. Canada.com
- Canopy will acquire London, UK skin-care company This Works for $73.8M in cash, and plans to develop a line of CBD-infused skin-care and sleep products. The Star
Quick Hits
- Competition to develop and produce synthetic cannabinoids is escalating. Financial Post
