Canopy Growth readies team, facilities, war chest for legalization
Expressing confidence that it is ready to conquer the Canadian recreational cannabis market upon the legalization of the herb, Canopy Growth Corp. will be entering October 17 with a crack team of high-level management professionals, an 80,000-square-foot high-tech distribution centre, and more than $5 billion in usable assets.
“The cannabis industry is increasingly drawing talented individuals, and Canopy is at the top of the food chain,” GMP Securities analyst Martin Landry told MarketWatch earlier this week.
“Such high-level talent should help Canopy navigate thought the rapid growth expected to come with the recreational market,” Landry stated, noting that the logistics, marketing, and pharmaceutical backgrounds of the management team would be among the company’s greatest strengths.
Related Post: Legalization to inflame demand for rental, retail properties
Earlier this week, Bloomberg reported that Canadian pot stocks enjoyed their second straight Monday of surging shares, with Nanaimo’s Tilray Inc. in particular seeing its shares reach a record-high $54.16 (up 23%).
Cronos Group also enjoyed a similar 30% increase this week, and Toronto-based Aphria Inc. enjoying a 20% boost in its share value.
Industry observers have assured that Canada’s rental and retail properties will enter a veritable renaissance once the federal Cannabis Act goes into effect, with Ontario and Alberta to enjoy generous windfalls, in particular.