Canopy pushed further into the US CBD market with its acquisition of US energy-drink maker BioSteel Sports Nutrition. The company bought 72% of BioSteel for an undisclosed amount in an all-cash transaction and will produce a line of CBD-infused sports drinks like BioSteel’s pink beverages enjoyed in the dugout by most of my favourite baseball players.
Globe and Mail, Bloomberg
- Constellations Brands CEO Bill Newlands said the company was “pleased” with Canopy, even as the LP’s losses cost Constellation $484.4M this quarter.
Globe and Mail
- 48North purchased US vaporizer company Quill/Rare Industries this summer, indicating the TSX Venture Exchange (on which 48North trades) is relaxing its stance on cannabis firms buying US companies.
MJ Biz Daily
- Canadiana nerds will be stoked both the name and logo of REC retail buyers’ co-op the Saskatchewan Weed Pool refer to the Saskatchewan Wheat Pool, formed in 1923 to get farmers fair prices for grain.
- Organigram shut down and cleaned two of the cooling towers at its Moncton production facility after finding “elevated bacteria counts”—seemingly synonymous with a New Brunswick report identifying western-Moncton cooling towers as the source of a legionnaire’s disease outbreak.
CBC New Brunswick