Canadian cannabis giantCanopy Growth Corporation(NASDAQ:CGC) (TSX:WEED) announced its intention toconsolidate in the US via a new holding company dubbed Canopy USA, LLCon Tuesday.
The move, which will streamline the company's entry into the US market, would allow it toacquireAcreage Holdings, Inc(OTC:ACRDF) (70%),Wana Brands(100%) andJetty(100%) and position itself for legalization of marijuana on the federal level. In addition, Canopy also controls aconditional ownership position, assuming conversion of its exchangeable shares and the exercise of its option though excluding the exercise of its warrants, ofapproximately 13.7% in TerrAscend Corp....
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