Constellation Brands is the owner of beers we know and enjoy, like Corona, Modelo and Pacifico. Now the umbrella of these mega brands has invested $4 billion dollars in the Canadian cannabis company, Canopy Growth.
While Constellation Brands saw a dip in stock after the move, which is likely related to market trends, Canopy Growth saw a 26.6 percent increase in theirs. Canopy Growth CEO Bruce Linton sat down on CNN and said that the investment, “gave them more credibility.”
The two companies have been working together since October 2017, but Linton said, “this shows that Constellation gets it. This is happening globally very quickly.” And that’s the truth. Countries around the world are working on marijuana reform, from the UK to Jamaica, people want their ganja and they don’t want to go to jail for it.
According to Linton, Canopy Growth is the number one cannabis brand as of now. They’re based in Canada, but operate in 11 different countries. Not the U.S. though, where cannabis is still federally illegal despite 30 states and the District of Columbia having implemented their own variations of legalization laws at the state and district levels.
Canopy has been operating under the medical marijuana rules to serve a huge portion of Canadian patients. But when recreational cannabis sales will become fully legal in Canada on October 17, that’s when the market is really going to open up for them. Perhaps imminent legalization contributed to the timing of Constellation’s big investment, right ahead of the curve and right on time.
“It’s kinda like our experiment,” said Linton, “Canada allows us to create formulations from plants, so we think about running clinical trials, both with humans and animals. We use those same plants and extractions to think about, well how can we create beverages that don’t have any calories, that aren’t sponsoring depression or getting quiet, but might make you feel a little more upbeat?”
As long as Canopy continues to think compassionately and outside the box, the path before them will open up to them even more monetarily, but most importantly they’ll have a standard to set. As the largest cannabis company to date, they have the opportunity to do things the right way. In a way that treats all imbibers like sacred human beings and that seeks to find via research the next big breakthrough with the miraculous cannabis plant.
Source: Source link