Welcome to our dedicated page for Canopy Growth news (Ticker: CGC), a resource for investors and traders seeking the latest updates and insights on Canopy Growth stock.
Canopy Growth Corporation (CGC) is a global leader in cannabis production and consumer goods innovation. This news hub provides investors and industry observers with official press releases, financial updates, and strategic developments from one of the sector's most diversified companies.
Access real-time updates on CGC's medicinal cannabis research, recreational product launches, and international market expansions. Our curated collection includes earnings reports, partnership announcements, and regulatory compliance milestones across Canada, Europe, and U.S. markets through Canopy USA.
Key focus areas include vaporizer technology advancements, brand portfolio growth, and cultivation process innovations. Users will find detailed information on THC and CBD product developments, sustainability initiatives, and strategic moves in emerging cannabis markets.
Bookmark this page for direct access to verified CGC announcements. Check regularly for updates on clinical trials, retail partnerships, and operational developments that shape the company's position in the global cannabis industry.
Canopy Rivers reported a comprehensive income of $82.2 million for Q3 2021, significantly attributed to the increased value of its investment in TerrAscend. The company finalized a transformative transaction with Canopy Growth (CGC), expected to close by late February, enhancing its strategic position for entering the U.S. cannabis market. Despite a net operating loss of $9.6 million for the quarter, Canopy Rivers anticipates stronger financial stability and growth opportunities following this deal. The company is also advancing its restructuring efforts with PharmHouse.
Canopy Rivers reported a comprehensive income of $82.2 million for Q3 2021, driven by significant gains in its investment in TerrAscend. The company announced a transformative transaction with Canopy Growth to sell interests valued at $115 million, expected to close by the end of February 2021. This transaction is projected to enhance liquidity and strategic positioning for entry into the U.S. cannabis market. Despite a net operating loss of $9.6 million, the company's prior challenges seem to be resolving as it anticipates profitable growth following the deal.
Canopy Growth Corporation reported record net revenue of $153 million for Q3 FY 2021, marking a 23% increase year-over-year. Canadian recreational market share rose to 15.7%, boosted by improved commercial execution. The company is implementing a cost savings program aimed at achieving profitability in the second half of FY 2022. However, a net loss of $829 million was attributed to impairment and restructuring charges. The company projects a 40%-50% CAGR in net revenue from FY 2022 to FY 2024, amid positive trends in both domestic and international cannabis markets.
Canopy Animal Health, a division of Canopy Growth (NASDAQ:CGC), has launched SurityPro, a new line of scientifically formulated CBD soft chews and oils for dogs. These products aim to enhance health and well-being, offering solutions for calm behavior, joint flexibility, and healthy aging. The SurityPro line includes five formulas with varying CBD concentrations, all adhering to NASC quality standards. The launch follows extensive research and collaboration with veterinarians. Additionally, Canopy partnered with Martha Stewart to offer another CBD pet product range.
Canopy Growth Corporation will announce its financial results for the third quarter fiscal 2021 on February 9, 2021, prior to market opening. The results will cover the period ending December 31, 2020. Following this, a live audio webcast will feature insights from David Klein, CEO, and Mike Lee, EVP & CFO, at 10:00 AM ET. A replay will be available until May 10, 2021. Canopy Growth specializes in diversified cannabis products and has a strong presence in both medical and consumer markets.
Canopy Growth Corporation (NASDAQ: CGC) launched the Martha Stewart CBD for Pet line, featuring gourmet-flavored CBD products for dogs, including soft-chews and oil drops. The line aims to enhance the mental and physical well-being of pets. Available in three formulations—Wellness, Calm, and Mobility—the products are scientifically crafted in collaboration with veterinarians. All items carry the NASC Quality Seal, ensuring high manufacturing standards. The product line is available for purchase on various online platforms as of January 26, 2021.
The cannabis industry is projected to reach $40.6 billion in global licensed dispensary sales by 2024, with the US contributing approximately $30 billion. Recreational cannabis sales are expected to hit $26.7 billion and medical cannabis $13.9 billion. A focus on cannabis delivery services is emerging as a key growth area. NxGen Brands has acquired an exclusive license for tracking technologies to enhance its cannabis delivery app. Additionally, Sundial Growers launched new premium cannabis derivatives, while HEXO Corp's joint venture Truss CBD USA introduced a sparkling CBD beverage line in Colorado.
Canopy Growth Corporation announced the acquisition of an option to purchase 1,072,450 common shares of TerrAscend Corp for approximately US$10.5 million. This option allows Canopy Growth to increase its ownership interest to about 20% following specific federal regulatory changes in the U.S. The acquisition will raise Canopy's interest in TerrAscend's common shares by approximately 0.7% on a partially diluted basis, resulting in an overall 39.9% ownership stake post-exercise of options and warrants. The company also holds 22,474,130 purchase warrants of TerrAscend.
Canopy Growth (NASDAQ: CGC) is executing a strategic arrangement to enhance its ownership in TerrAscend from approximately 13% to 21%. In exchange for this increment, Canopy Growth will divest its 27% stake in Canopy Rivers and pay $115 million, along with issuing 3,750,000 shares. The company will also increase its stake in Vert Mirabel from 41% to 67%. Additionally, terminating a royalty agreement will save Canopy Growth $2.9 million annually. This arrangement awaits approval from shareholders and regulatory bodies, marking a significant shift in Canopy Growth's investment strategy.
Canopy Growth has entered into a US$20 million loan agreement with Arise Bioscience Inc., a subsidiary of TerrAscend. The loan, secured by Arise's assets, will bear an interest rate of 6.10% per annum and matures on December 9, 2030. Additionally, Canopy has received 2,105,718 common share purchase warrants from TerrAscend. Proceeds from the loan will be used for general corporate purposes and debt repayment, without involvement in cannabis operations in the U.S. until compliant with laws.
