Canopy Growth’s investment arm Canopy Rivers said the company has received 1,523 pitches for funding and has chosen to invest in only 18. The company sees a large opportunity in selling US brands in Canada—since these can be legally marketed on the internet in the US, meaning brands available in Canada can receive wide US-based internet marketing campaigns without breaking Health Canada regs.
Canopy’s interim CEO Mark Zekulin did a series of media interviews in the hope of calming public nerves and soothing irate investors who’ve watched Canopy’s stock decline 50% since April.
REC retail giant Fire & Flower keeps growing. This week it acquired eight more (as-yet unlicensed) REC retail locations in Alberta.