Canadian market leader Canopy Growth is looking beyond that nation’s 2018 legalization and forward to a potential $180 billion global market where international trade agreements deliver a clear edge.
Canopy CEO, Bruce Linton told attendees on Nov. 17 at the MJBizConExpo that continuing US federal prohibition means Canada will be able to “pursue global markets without US competition,” where the company is cleared to provide “medicine ingredients” in the form of raw cannabis flower and extracted oils (see Canopy’s 1st eight nations below).
Linton was especially proud to have kept the $200 million investment in his firm by liquor giant Constellation Brands secret until its announcement last week. “It helped that they called us back,” Linton said of Constellation.
Linton remains committed to research and response to MMJ patient needs for specific types of cannabis. Canopy Growth will specialize in the area of cannabis therapies for sleep disorders, Linton said, adding that the demand from global MMJ initiatives will easily outstrip demand from LP growers in Canada.
Canopy also used the show to announce a new production and processing deal with new partners Green House Seeds (40% share) and Denver’s Organa Brands (20% share) to form AgriPharm, a 20,000 square foot Ontario facility.
Canopy’s press release notes:
Green House is a genetic leader that has bred some of the world’s most sought-after strains; and Organa Brands is an extract product innovator. Together, the JV is positioned to take sought after genetics, insert those genetics into consumer-friendly ingestion formats, and put them on stores shelves across the country, and abroad.
“These aren’t cannabis deals,” noted Linton of the AgriPharm initiative. “They are economic development deals.”
Linton also noted that when a province sells a former factory at rock-bottom prices, such as it did in this deal, its clear goal is to add the new jobs that will fill the facility as it ramps up.
Linton expects the long-term RMJ Canada markets to gross between $5 and $8.7 billion.