144243
139627


Canopy acquires AgriNext

Canopy Growth Corp. has acquired AgriNextUSA, in a move to boost its hemp business in the United States.

Financial terms of the deal were not immediately available.

Canopy, distributor of Tweed cannabis products, says AgriNextUSA chief executive Geoff Whaling will join Canopy Growth USA as a strategic adviser. It says Whaling is considered a hemp pioneer and a leading advocate for the sector in the United States.

Earlier this year, Canopy was granted a licence by the state of New York to process and produce hemp, a member of the cannabis plant family.

The Ontario-based company has announced plans to invest between US$100 million and US$150 million at its proposed New York hemp operations.

The U.S. legalized the cultivation of hemp late last year as a source of cannabidiol (CBD), one of the compounds also found in cannabis.



More Business News

144299
135474
137176
Data from CryptoCompare
Recent Trending
135795
Soft 103.9
Castanet Proud Member of RTNDA Canada
141436
Press Room
136607
140668