How the Constellation-Canopy deal brought cannabis investing out of the fringes
How Constellation’s investment in Canopy changed the pot business
A year ago, Constellation Brands shocked the investor world when it made a $245 million investment for a 9.9 per cent stake in Canopy Growth. The watershed moment took the cannabis industry from the fringe investment community to a sector that institutional investors couldn’t ignore, reports BNN Bloomberg’s David George-Cosh. At the heart of the deal was Canopy’s development of new products that use cannabis as a key ingredient, namely beverages and other ingestibles. That focus on intellectual property stems from Canopy Co-CEO Bruce Linton’s two-decade career as a key player in Ottawa’s tech circles.
No plans for Coke right now to get into cannabis: CEO
The Coca-Cola Co. has no plans “at this stage” to develop beverages infused with the non-psychoactive ingredient found in marijuana plants, the company’s CEO said during a conference call Tuesday. “We don’t have any plans at this stage to get into this space. That’s kind of where we are,” James Quincey said, when asked for an update on what kind of changes would need to occur in the cannabis industry in order for Coca-Cola to develop drinks infused with cannabis. BNN Bloomberg exclusively reported last month that Coca-Cola was in serious talks with Aurora Cannabis to develop beverages that include CBD..
How legal pot could play out after the U.S. elections
What will the U.S. cannabis industry look like in the future? Bloomberg’s Craig Giammona reports on what the political landscape for cannabis in the U.S. could be like following next week’s midterm elections that has several pot-related initiatives on some state ballots. Voters in North Dakota and Michigan will be able to choose whether their state will allow for legal recreational weed while voters in Missouri and Utah will weigh in only on medical marijuana.
StatCan publishes new data on Canadian pot use
Two weeks following the legalization of cannabis, Statistics Canada released new data on how Canadians are consuming pot. Canada’s national statistics agency found that prior to legalization, more than one in seven Canadians – or roughly 4.6 million people – reported using cannabis, equivalent to the proportion who reported smoking cigarettes. Additionally, cannabis consumers are more likely than those who do not consume cannabis to drink, smoke cigarettes or use at least one other illegal drug.
MedMen tries to trademark ‘cannabis’
Can you actually trademark the word “cannabis”? U.S. pot retailer and producer MedMen Enterprises is looking to do just that, according to a report in MJBizDaily. The company filed an application with the U.S. Patent and Trademark Office earlier this month following its successful move to trademark a marijuana leaf design for shirts. However, trademark experts aren’t sure if MedMen’s plans will pan out, noting that the U.S. government will likely reject the company's application given how the word "cannabis" is used in connection with other merchandise items.
– The day that Aphria, the latest Canadian pot producer to list in the U.S., said it will commence trading on the New York Stock Exchange.
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