Posted on 10/30/2017 12:16:49 PM PDT by Wolfie
Corona beer owner set to buy into world’s largest cannabis grower
U.S. drinks company Constellation Brands has agreed to buy a near 10 percent stake in Canopy Growth Corporation, the world's largest publicly traded cannabis company. Constellation, a beer distributor that owns Corona, is reportedly planning to work with the grower to develop, market and sell cannabis-infused beverages.
The agreement, confirmed in a press release Monday, is $245 million Canadian dollars ($191 million) in exchange for a 9.9 percent stake in the Canopy Growth Corporation.
It is seen by Constellation Brands President and CEO, Rob Sands, as an anticipation of a nationwide legalization of marijuana in the United States.
"We think that it's highly likely, given what's happened at the state level," said Sands in an interview with the Wall Street Journal.
In 2018, California is set to legalize the cultivation and selling of recreational marijuana, but Sands said his company didn't plan to sell the product in the U.S. until marijuana was legal nationwide. He added that Constellation would look to starting selling in countries where recreational marijuana is legal and Canada could be an option if, as scheduled, legislation there is relaxed next year. Constellation Brands is a listed on the S&P 500 and posted record net sales of $7.3 billion for its fiscal 2017 results.
Canopy Growth is the world's largest publicly traded cannabis company, with a market valuation of 2.2 billion Canadian dollars. It is listed on the Toronto Stock Exchange. Constellation said the transaction is expected to close during the Company's third quarter of fiscal 2018.
Makes sense, financially...............
Same smell....
Corona with something besides a slice of lime coming soon?
Cannabis infused beer is a really, really dumb idea.
People like to pound beers by the dozens.
Too much infused beer would be the very worst experience any beer drinker ever had.
By far.
Whoa...Dude...
The most interesting man would be better.
Expensive vomit.
Seriously skanky.
I was not joking. A variation of hops in beer. Corona Canabana.
Cha-Ching Ping
How are you going to make money selling something that can grow wild in anyone’s backyard?
Their beer is a very poor imitation of Billy Beer.
Woo Hooo!!!
Soma for the Brave New World!!!!
What are your thoughts on Smoking Marijuana? Sadhguru
https://www.youtube.com/watch?v=-S2wAjLwNUs
“A seeker asks Sadhguru about his thoughts on smoking marijuana. Sadhguru presents some excellent insight into the reasons that people smoke and a great alternative to smoking.”
I’m against it.
Perhaps the sarcasm in my post was not as evident as I thought.
they say,, grow and brew at your local co-op..
It was evident! Just thought you might be entertained by the video. Pretty weird stuff.
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