Canopy Growth Makes Big US Play, Betting on Federal Legalization

Dear Client: Canadian marijuana supplier Canopy Growth Corp. announced it has entered into a "definitive arrangement" with US-based Acreage Holdings that grants Canopy the right to acquire 100% of Acreage should cannabis become federally legal. Acreage Holdings is a vertically integrated cannabis company with operations in 19 US states. The company owns cannabis licenses and assets, and last year launched a national retail brand dubbed The Botanist. It's a "complex transaction with a simple objective," says Canopy chief Bruce Linton.