canopy growth

The world’s biggest cannabis company is getting into hemp. On Jan. 9, 2019, Canopy Growth Corp. (NYSE: CGC) announced that, following the passage of the 2018 Farm Bill, the company has plans to enter the U.S. hemp market. Over the last two years, the company has quietly been adding strategic hemp assets to the company’s portfolio and is cultivating approximately 4,500 acres of hemp; which is expected to produce roughly 7,000 kilograms of hemp-derived CBD once harvested. Noting that there is currently no regulatory path to entering the market as of yet, the company says that it can store any CBD extracted can be stored over the long term as regulations as still being determined.

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