The leading executives of Canopy Growth (NYSE:CGC,TSX:WEED) and Acreage Holdings (CSE:ACGR.U,OTCQX:ACRGF) held the stage together at the kickoff of the MJBizConINTL event in Toronto to discuss the state of consolidation in the cannabis space. In April, the two marijuana firms announced an acquisition plan by way of a transaction valued at US$3.4 billion. Part of the deal states that Canopy Growth will complete the transaction should cannabis become legal in the US.
However, the companies have hinted that the passing of the STATES Act, a policy that has opened the doors for states to regulate their cannabis programs without federal interference, could also trigger the acquisition. Mark Zekulin, CEO of Canopy Growth, added that if an investor today believes the triggering action for the deal — the legalization of cannabis in the US — is set to take place, investing in his firm represents future exposure to the entire US market...." Investing News Network https://quotes.freerealtime.com/quotes/CGC/News |