GFM Network News


(CanopyGrowth.com)

Constellation tightens grip on Canopy with CEO appointment

Reuters — Constellation Brands finance head David Klein will take over in January as CEO of pot producer Canopy Growth Corp., hardening up the Corona beer maker’s control of a company into which it has sunk US$4 billion. Klein was appointed Canopy chairman in October after Constellation booked a $430 million net loss related to […] Read more

(CanopyGrowth.com)

Pot producer Canopy Growth to stop expanding in Canada

Reuters — Canopy Growth Corp. on Thursday reported a wider-than-expected quarterly loss on soaring expenses and said it would not make any large investments to expand in Canada amid surplus supply and tepid demand for weed and weed products. The decision to hold expansion plans follows a wave of enthusiastic spending by marijuana companies to […] Read more


Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)

Weed leader Canopy Growth ousts co-CEO

Corrected, Aug. 27, 2019 — Reuters — Canopy Growth Corp. fired founder and co-CEO Bruce Linton, a surprise move that comes just a week after the Canadian cannabis producer’s largest shareholder expressed disappointment over its loss-making streak. The world’s largest pot company announced earlier in the day that Linton was stepping down, leaving Mark Zekulin […] Read more

Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)

Canopy Growth Q4 revenue beats as cannabis sales soar

Reuters — Pot producer Canopy Growth reported better-than-expected quarterly revenue on Thursday, as efforts to strengthen its retail operations paid off and increased production capacity resulted in higher sales following Canada’s legalization of recreational cannabis. Marijuana companies in Canada have been pouring cash into their businesses to open stores and expand operations as the list […] Read more


(CanopyGrowth.com)

Pot firm Canopy’s loss widens as spending surges

Reuters — Canadian cannabis producer Canopy Growth posted a bigger-than-expected quarterly net loss on Wednesday as it ramped up spending in the run up to the legalization of recreational use of pot in mid-October, sending its shares down nine per cent. Marijuana companies in Canada have been pouring cash into their businesses to both fend […] Read more



(CanopyGrowth.com)

Big Weed hits up Europe hoping for expansion cash

Toronto/London | Reuters — A favorite of DIY stock pickers, Canadian cannabis firms are trying to bolster their institutional investor base by ramping up efforts to woo European funds as countries across the region approve marijuana for medical use. For some time companies including Canopy Growth, Aurora Cannabis and Tilray Inc. have been signing export […] Read more

A worker pushes a cart of marijuana plants at the Canopy Growth facility at Smiths Falls, Ont. on Jan. 4. (File photo: Reuters/Chris Wattie)

Corona owner pours more funds into weed producer

Reuters — Corona beer maker Constellation Brands will invest a further $5 billion in Canada’s top cannabis producer Canopy Growth, doubling down on one of a growing number of bets by the alcohol industry in legal pot. Constellation was among the first major alcohol producers to invest in marijuana production when it pumped about $245 […] Read more


(Ca.TokyoSmoke.com)

Canopy Growth to buy Tokyo Smoke owner Hiku Brands

Reuters — Ontario’s Canopy Growth Corp. is buying Toyko Smoke cannabis owner Hiku Brands Co. Ltd. for $269.2 million, the latest deal in a fast-consolidating sector ahead of legal recreational marijuana sales. Smiths Falls-based Canopy Growth on Tuesday offered 0.046 of its shares, or $1.91 per share, for each Hiku share held, a premium of […] Read more