Welcome to our dedicated page for Canopy Growth news (Ticker: CGC), a resource for investors and traders seeking the latest updates and insights on Canopy Growth stock.
Canopy Growth Corporation (CGC) is a global leader in cannabis production and consumer goods innovation. This news hub provides investors and industry observers with official press releases, financial updates, and strategic developments from one of the sector's most diversified companies.
Access real-time updates on CGC's medicinal cannabis research, recreational product launches, and international market expansions. Our curated collection includes earnings reports, partnership announcements, and regulatory compliance milestones across Canada, Europe, and U.S. markets through Canopy USA.
Key focus areas include vaporizer technology advancements, brand portfolio growth, and cultivation process innovations. Users will find detailed information on THC and CBD product developments, sustainability initiatives, and strategic moves in emerging cannabis markets.
Bookmark this page for direct access to verified CGC announcements. Check regularly for updates on clinical trials, retail partnerships, and operational developments that shape the company's position in the global cannabis industry.
Canopy Growth Corporation announced the acquisition of an option to purchase 1,072,450 common shares of TerrAscend Corp for approximately US$10.5 million. This option allows Canopy Growth to increase its ownership interest to about 20% following specific federal regulatory changes in the U.S. The acquisition will raise Canopy's interest in TerrAscend's common shares by approximately 0.7% on a partially diluted basis, resulting in an overall 39.9% ownership stake post-exercise of options and warrants. The company also holds 22,474,130 purchase warrants of TerrAscend.
Canopy Growth (NASDAQ: CGC) is executing a strategic arrangement to enhance its ownership in TerrAscend from approximately 13% to 21%. In exchange for this increment, Canopy Growth will divest its 27% stake in Canopy Rivers and pay $115 million, along with issuing 3,750,000 shares. The company will also increase its stake in Vert Mirabel from 41% to 67%. Additionally, terminating a royalty agreement will save Canopy Growth $2.9 million annually. This arrangement awaits approval from shareholders and regulatory bodies, marking a significant shift in Canopy Growth's investment strategy.
Canopy Growth has entered into a US$20 million loan agreement with Arise Bioscience Inc., a subsidiary of TerrAscend. The loan, secured by Arise's assets, will bear an interest rate of 6.10% per annum and matures on December 9, 2030. Additionally, Canopy has received 2,105,718 common share purchase warrants from TerrAscend. Proceeds from the loan will be used for general corporate purposes and debt repayment, without involvement in cannabis operations in the U.S. until compliant with laws.
BioSteel has secured a multi-year partnership with the Toronto Raptors, becoming the team's official sports drink and presenting partner for Raptors Training Camp. The deal allows BioSteel's new sugar-free sports drink to be available to players during games and training. Branding will be prominently displayed at home games and training facilities. BioSteel, founded in 2009, focuses on all-natural, nutritious products and has gained popularity among consumers and athletes alike. This partnership will further enhance BioSteel's market presence.
Canopy Growth Corporation (CGC) announced significant operational changes in Canada aimed at improving margins and accelerating profitability. The company plans to close multiple production sites, including locations in Newfoundland, New Brunswick, Alberta, and Ontario, impacting approximately 220 employees. This restructuring is part of a broader end-to-end review targeting $150-$200 million in cost savings. The closures represent about 17% of the company's Canadian footprint and are expected to incur pre-tax charges of $350-$400 million in the upcoming quarters.
Martha Stewart's CBD collection has officially launched at The Vitamin Shoppe and Super Supplements, marking a significant expansion for Canopy Growth Corporation (CGC). Available online and at over 580 retail locations, the product line includes a 15-Flavor CBD Gummy Sampler and various wellness products. The items, made from premium hemp-derived CBD isolate, aim to provide accessible wellness solutions just in time for the holiday shopping season. Consumers can enjoy a 25% discount on Martha Stewart wellness products through December 30, 2020, using promo code MARTHA25.
BioSteel has entered a multi-year partnership with the Philadelphia 76ers, becoming the official sports drink of the team and the presenting partner for the 76ers Training Camp. This agreement includes significant brand visibility at home games and the team’s training complex in Camden, New Jersey, featuring digital signage and product placement. BioSteel's logo will be prominently displayed on various items during games. The partnership emphasizes BioSteel's commitment to providing sugar-free hydration products, aimed at enhancing athlete performance.
Canopy Growth Corporation has published a groundbreaking study on the long-term toxicity and lifespan effects of cannabidiol (CBD) using the preclinical model C. elegans. Conducted in partnership with NemaLife Inc., the study indicates that CBD shows no acute or chronic toxicity at physiological concentrations. Instead, it extends mean lifespan by up to 18% and increases late-stage life activity by 206%. This research, published in the Cannabis and Cannabinoid Research journal, supports ongoing investigations into CBD's potential health benefits and influences public policy regarding cannabis use.
Canopy Growth Corporation (NYSE: CGC) has launched a limited edition Martha Stewart CBD Wellness Gummies Sampler, featuring 60 gummies in 15 seasonal flavors for the holidays. Retailing at $64.99, the sampler will be available for pre-order starting November 11, with shipping set for November 27. The gummies contain 10mg of premium CBD isolate each, crafted to offer wellness benefits while being a luxurious gift option. This collaboration between Canopy Growth and Martha Stewart aims to enhance the CBD product line, appealing to consumers looking for both quality and flavor.
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