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Popular maker of Corona beer Constellation Brands (STZ) is making a $4 Billion investment in Canada marijuana grower Canopy Growth Corp. (CGC) Canopy Growth Corp. is the first and largest cannabis company to trade on the NYSE. Could this be the signal that marijuana is officially entering the mainstream?
Who is Constellation Brands?
Constellation Brands is the visionary company behind the beer, wine and spirits brands that you love and have celebrated with for over 70 years.
A wholly American-owned company, they produce quality, iconic brands such as Corona Extra, Modelo Especial, Ballast Point, Robert Mondavi, Kim Crawford, Ruffino, The Prisoner, SVEDKA Vodka and High West Whiskey, to name just a few.
What investors need to know:
Who is Canopy Growth Corp.?
In April 2014, Canopy Growth became the first cannabis company in North America to be publicly traded. They followed that with being the first to complete a “bought deal”, to diversify their platform to include both greenhouse and indoor growing, to acquire a major competitor and to be listed on the Toronto Stock Exchange. Continuing those firsts, Canopy Growth remains the only cannabis company to be a member of a major global stock market index, in this case the S&P/TSX Composite index.
Away from the markets, Tweed, a Canopy Growth subsidiary, was the first to introduce the now standard concept of Compassionate Pricing to make medical cannabis affordable for patients, and they remain proud to continue supporting a patient’s right to grow at home by selling the widest variety of seeds in the legal Canadian sector.
Cannabis is becoming a mainstream commodity, Constellation's investment move is a big sign that the corporate world sees it as a profitable market. Several U.S. states have legalized marijuana, and Canada, later this year, will fully legalize. Behind Uruguay, Canada becomes the second country in the world to fully legalize cannabis.
How can I invest in the marijuana industry?
Next Phase For Marijuana Stocks
This investment by Constellations Brands would be used to fund Canopy Growth's expansion in the "nearly 30 countries pursuing a federally permissible medical cannabis program," the release said.
It would also help Canopy "rapidly" lay the groundwork needed to operate in the recreational market. During the call, Linton said Canopy's target acquisition list was greater than 1 billion Canadian dollars. Legal recreational sales in Canada start on Oct. 17.
Constellation may not be planning to sell a drinkable cannabis product in the United States, before legalization happens across the nation, but it may begin doing sales in Canada next year.