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Just received a memory from Facebook from August 2014.
Tweed posted the following…”We are now registering customers for our waiting list… “
My how times of changed we’re growing up
Order #952779
Ottawa to review Constellation Brands' blockbuster investment in Canopy Growth
The deal will be the first cannabis-related investment to be reviewed under the Investment Canada Act
A deal that could see U.S.-based alcohol giant Constellation Brands Inc. take a majority ownership stake in leading cannabis producer Canopy Growth Corp. will be reviewed by the federal government, a spokesperson for Innovation, Science and Economic Development Canada confirmed on Friday.
Smiths Falls, Ont.-based Canopy and Victor, New York’s Constellation announced a proposed transaction Wednesday that involves Constellation investing approximately $5 billion in Canopy in a deal that could raise it’s stake in the marijuana firm to around 38 per cent.
The deal also includes warrants that could let Constellation buy even more shares of Canopy potentially growing Constellation’s ownership in Canopy above 50 per cent — at a cost of at least another $4.5 billion. What’s more, the proposed transaction would also allow Constellation to nominate four of the seven directors on Canopy’s board.
Pending shareholder and regulatory approval, the deal is scheduled to close by the end of October.
But the investment, which the companies said would be “the largest to date in the cannabis space,” will apparently draw scrutiny from the Canadian government as well.
“We can confirm that U.S.-based Constellation Brands Inc.’s proposed investment in Canopy Growth Corporation is subject to review under the Investment Canada Act,” said Hans Parmar, a spokesperson for Innovation, Science and Economic Development Canada, in an email on Friday. “The proposed acquisition, like all foreign investment transactions, will be reviewed on its merits based on the overall economic benefit for Canada.”
That review is also likely to be a first for Canada, the spokesperson added.
“The proposed transaction would very likely be the first cannabis-related investment reviewed under the Act given the only recent passing of legislation to legalize cannabis,” Parmar said.
A presentation on the deal by Constellation had suggested the transaction may require approval under the Investment Canada Act, legislation that says it is intended to “provide for the review of significant investments in Canada by non-Canadians.” An order issued under the same act scuttled a proposed takeover of Canadian construction firm Aecon Group Inc. by a Chinese state-owned company earlier this year, albeit in the name of national security.
While it seems doubtful a cannabis deal poses any sort of similar concerns, Parmar said that the federal government is required to review proposed purchases of Canadian companies by foreign businesses when the value of the deal hits a certain level, which is currently $1.5 billion “for investments originating in trade-agreement-partner countries, such as EU member countries.”
Asked if Constellation’s ultimate goal is to take control of Canopy, the head of the pot producer said Wednesday that he couldn’t speak for his U.S. counterparts.
“But I suspect if we do what we’re going to do, which is build a global platform that generates massive amounts of (earnings before interest, taxes, depreciation, and amortization) over the next few years, that is a pretty amazing company that everybody would think is a good one to own,” said Canopy chairman and co-CEO Bruce Linton during a conference call with analysts.
The Canopy-Constellation deal also highlights Canada’s status as a leader in the marijuana industry. When Canada legalizes recreational pot on Oct. 17, it will be the first G7 country to do so, setting itself up as a test case for the rest of the world to watch.
Walid Hejazi, an associate professor of international business at the University of Toronto’s Rotman School of Management, warned that the Canadian government being too overprotective could harm the industry and consumers.
“If we want Canada to be globally competitive in cannabis, we should be open to foreign direct investment that will bring lots of capital and technology to Canada,” Hejazi said in an interview. “And it will force Canadian companies to adopt global best practices.”
https://business.financialpost.com/cannabis/ottawa-to-review-constellation-brands-blockbuster-investment-in-canopy-growth-corp
Canopy Growth Corp’s (TSX:WEED, NYSE:CGC) new buy-in from liquor company Constellation Brands will be key to the licensed cannabis producer’s build out into the international market, says Jason Zandberg of PI Financial.
On Wednesday, the analyst raised his target price for WEED to $60.00 (previously $45.00) while maintaining his “Buy” recommendation.
Overshadowing the company’s fiscal first quarter results, the announced deal will see Constellation acquiring 104.5 million shares from Canopy at $48.60 per share, a more than 50 per cent premium to WEED’s Wednesday share price and equating to roughly $5 billion.
By far the largest deal in Canada’s fledgling cannabis sector, the investment increases Constellation’s ownership interest in Canopy from a previous ten per cent to 38 per cent. The deal also involves Constellation receiving additional warrants of Canopy worth up to another $4.5 billion in shares if exercised, bringing Constellation’s ownership in Canopy above 50 per cent.
Zandberg says the deal will push forward Canopy’s global ambitions. “The ~$5 billion proceeds from the investment will be used to strategically build and/or acquire key assets around the globe in the 30+ countries pursuing federally permissible medical cannabis programs,” says Zandberg in an earnings update to clients yesterday. “This will lay the foundation for the opening up of future recreational markets where WEED will have an early mover advantage.”
The news came as Canopy delivered its fiscal Q1/19 financials, which featured revenue that came in-line with consensus expectations at $25.9 million, up 63 per cent year-over-year, while WEED’s EBITDA was larger than expected: a loss of $22.5 million, compared to a $3.9 million EBITDA loss in Q1/18.
“We are maintaining our Buy rating (risk: Speculative) but increasing our 12-month target price to $60.00 (previously $45.00),” says Zandberg. “The increase in our target reflects the ~$15.00/share in cash provided by this investment. Our target is 43x our FY21 EV/EBITDA estimate (previously 28x) which represents the significant market potential in Canada and the international markets.”
https://www.cantechletter.com/2018/08/canopy-growth-corp-gets-new-60-00-price-target-at-pi-financial/
Yes that’s exactly what he said. He said something along the line it would last a year before it would go stale dated
They won’t get anywhere near nine dollars a gram. Wholesale I’m guessing will be 4.00
We’re writing you today in the interest of keeping you completely up to date on any and all changes we make. It’s our priority to make sure your supply of medicinal products is never disrupted, and keeping you informed is part of that.
What’s happening?
Starting August 22nd, our website will look a little different, as Tweed Main Street becomes SpectrumCannabis.com.
Why are we doing this?
As we get closer to cannabis legalization for adult use in Canada, we remain committed to our medical cannabis customers, and are putting our leading medical brand, Spectrum Cannabis, front and centre. You can continue to rely on a consistent, standardized supply of products — this has always been Spectrum Cannabis’ priority, and that won’t change.
How will this affect you?
Your registration and account login details will not be affected in any way. You will still be registered with Tweed Inc. and your personal information will not be shared with any additional parties. We are simply giving our site a makeover to emphasize our continued focus on serving our medical cannabis customers. SpectrumCannabis.com is dedicated to providing you a full range of medical cannabis products, including product from Tweed and the CraftGrow Collection.
When adult use legalization does come into effect, you’ll be able to explore all of our recreational products on Tweed.com, including Foria, DNA, and Leafs By Snoop. In some provinces, you’ll even be able to purchase these products online from the Tweed.com shop.
Spectrum Cannabis price promise
We know there is concern about the Government of Canada’s proposed excise tax on medical cannabis and its impact on the affordability of your medicine.
To honour our commitment to affordable medical cannabis and pricing predictability, we’ve decided to absorb the excise tax across all Spectrum Cannabis products. On top of this, all Spectrum Cannabis dried flower products are now priced at no more than $8.50 per gram.
And, as always, Spectrum Cannabis products in Canada are eligible for our industry-first Compassionate Pricing Program that helps those on limited incomes afford their medicine.
Spectrum softgels and oils will always be in stock
With almost 6 million square feet of growing space, we’re unlikely to sell out of softgels or oils. But, if we do, we'll give you a 10% discount on the equivalent Spectrum softgel or oil product.
This is all to say…
We continue to evolve and remain focused on ensuring you will have consistent access to the medical cannabis products you need.
Please contact us if you have any questions. We’re here to help.
Totally agree April 1 is ridiculous
WATCH LIVE: The Ontario government is set to announce its approach to the legalization of marijuana.
https://globalnews.ca/news/4385166/marijuana-sales-ontario/
lets try this again...
check out the video, and the advertising. first 17 sec, and at 2.33
check out the video, and the advertising. first 17 sec, and at 2.33
https://www.arthritis.ca/treatment/medication/medical-cannabis
Order #928164
Order #928148
just got more...cheap
Order #913430
I’ve noticed today that the volume of CGC has been higher than WEED
Canopy CEO hopes Hiku deal will lead to cannabis stores like that of Apple, Lululemon
https://www.bnnbloomberg.ca/related/tag?Tag=%20chairman%20and%20CEO%20at%20Canopy%20Growth
I don’t think it will be as much as you think of an increase from Alberta to Ontario. When you look back at the numbers on the governments webpage where they track the lPs locations and amounts. You might be surprised to see Alberta with the second highest registered medical users and not much less than Ontario
Order #889429
COME ON 1,000,000.00
Order #869655
Looking at the aurora medreleaf deal. Aurora agreed to buy them at $29.44 a share.
If the share price goes above the 29.44 should you not sell?
Have we had a Day where the OTC or New York Stock Exchange volume exceeded Canadian volume?
Order #846273
On February 27 when Cronos listed on the NASDAQ it did 2.8 million and then the next day 9.88 million the next day 11.86 million
I say we do 5 million
letting it ride for at least a year
Order #836744
Order #833213
My wife loves her Foria
NDP URGES MORNEAU TO END EXCISE TAX
ON MEDICAL CANNABIS
OTTAWA – NDP Finance Critic Peter Julian, MP (New Westminster-Burnaby), has urged Finance Minister Bill Morneau to eliminate a significant increase in prescription medical cannabis costs by stopping the implementation of a new excise tax on medical cannabis. Finance Canada officials confirmed the increase before the Finance Committee yesterday.
“We believe that the Liberals’ medicinal cannabis tax policy is misconceived, unfair to patients, and damaging to public health. Why wasn’t this tax exempted from the budget implementation act?” asked Julian. “The cost of this prescription medicine is already an obstacle for the over 250,000 authorized cannabis patients. Government should be helping patients ease their financial burden. Unless this government steps in, this excise duty tax could very well push many Canadians and their families into a health crisis, at a time when the need for a universal pharmacare program in our country has never been greater.”
Julian has written to Morneau calling on the Finance Minister to do the right thing by medical cannabis patients, zero-rate medical cannabis tax in line with all other prescription medicine and to exempt medical cannabis from any additional taxes by amending T 3 Amendments to the Excise Act, 2001 (Cannabis Taxation), the Excise Tax Act and Other Related Texts, 69(4) Section 2 of the Act, to support amendments to Bill C-74 in the Standing Committee on Finance to remove this particular new excise tax you had proposed on patients who have prescriptions for medical cannabis.
“Canadians that have a prescription for medical cannabis are currently forced to spend hundreds or thousands of dollars every month to acquire a sufficient amount of medicine, or choose a riskier option, like a prescription opioid, because it’s tax exempt and covered for reimbursement,” said NDP Health Critic Don Davies, MP (Vancouver Kingsway). “This is perverse, and even more illogical given the growing body of data which suggests that cannabis can play a significant role in addressing the opioid crisis.”
Julian has put forward an amendment to Bill C-74, the Budget Implementation Act to end the excise tax on medical cannabis. The Finance Committee will vote on the amendment next month.
-30-
For more information, please contact Ms. Mounia Lahbabi at 613.992.4214 peter.julian@parl.gc.ca
Order #818154
NEW: Tell the Finance Committee to Drop Proposed Sin Tax
http://donttaxmedicine.ca/NoTax/budget/
Not that I heard
Hap Sneddon discusses Aurora Cannabis
Hap Sneddon, chief portfolio manager and founder at Castlemoore Inc., discusses Aurora Cannabis.
WAIT FOR IT
https://www.bnnbloomberg.ca/video/hap-sneddon-discusses-aurora-cannabis~1383095
Canopy Growth CEO Bruce Linton: Won't be stretched too thin by pursuing global ambitions
BNN Bloomberg speaks with Canopy Growth CEO Bruce Linton about how the company is positioning to integrate numerous businesses under the same banner, how global assets are being integrated, and how the company is getting ready for the legalization of recreational marijuana.
https://www.bnnbloomberg.ca/video/canopy-growth-ceo-bruce-linton-won-t-be-stretched-too-thin-by-pursuing-global-ambitions~1383022
An awakening': Major Canadian pension funds wade into pot stocks
https://www.bnnbloomberg.ca/an-awakening-major-canadian-pension-funds-wade-into-pot-stocks-1.1068118
CNN weed 4 pot vs pills CNN SPECIAL REPORT 4/29/18