Canopy Rivers to Report Fourth Quarter and Fiscal Year 2019 Financial Results
TORONTO , June 19, 2019 /PRNewswire/ - Canopy Rivers Inc. (the " Company ") (TSXV: RIV) (OTC: CNPOF) will report its financial results for the fourth quarter and fiscal year ended March 31, 2019 before markets open on Tuesday, July 16, 2019 . The Company's audited consolidated financial statements and Management's Discussion and Analysis for the three and twelve months ended March 31, 2019 will be available on the Company's profile on SEDAR at www.sedar.com and in the Investors section of the Company's website at www.canopyrivers.com .
Canopy Growth announces shareholder approval in connection with the proposed acquisition of Acreage & provides update on American hemp and CBD operations
SMITHS FALLS, ON , June 19, 2019 /PRNewswire/ - Canopy Growth Corporation (" Canopy Growth " or the " Company ") (TSX: WEED) (NYSE: CGC) is pleased to announce that, at a special meeting of the Company's shareholders (the " Meeting ") held earlier today, the Company's shareholders voted overwhelmingly in favour of the resolution (the " Canopy Shareholder Resolution ") approving the issuance of common shares of Canopy Growth and certain amendments to certain outstanding Company warrants in connection with the Company's previously announced proposed acquisition (the " Transaction ") of Acreage Holdings, Inc. (" Acreage ").
Cultivators Employ Modern Technology to Boost Cannabis Harvests
Canada became the second country ever to fully legalize cannabis back in late 2018, however, the country continues to struggle with meeting the exorbitant demand. Additionally, cultivators and producers are facing regulatory challenges which are hindering their operations. For example, the Canadian government has provided a very limited number of cultivation licenses and curtailed retail operating hours. Consequently, supply shortages have significantly impacted many retailers and dispensaries' financials. Certain Canadian provinces, such as Ontario and Quebec, were ultimately forced to close down select brick-and-mortar stores due to the overwhelming demand. And while supply shortages seemed to be a major problem within the Canadian cannabis marketplace, Brock University Professor Michael Armstrong believes otherwise. The industry just became fully legal in Canada not even a year ago, meaning the industry is still heavily monitored and regulated. Even so, Armstrong said that legal production began ramping about half a year prior to Canada's legalization. Moreover, Armstrong cites data from 2017 and highlights that production rates have actually grown year-over-year. He mentions that producers have been stockpiling supply and are continuing to grow cannabis at a faster rate. And if licensed producers can continue increasing their inventory size, Armstrong predicts that supply will catch up to the demand by the end of 2019. Furthermore, cultivators have implemented new technologies and farming methods in order to bolster their yield per harvest. The combination of increasing production rates, as well as the use of new technologies, is expected to eventually close the gap between supply and demand. According to data compiled by Verified Market Research, the global marijuana market was valued at USD 42.20 Billion in 2016. By 2025, the market is expected to reach USD 466.81 Billion while registering a CAGR of 35.3% from 2018 to 2025. Canopy Rivers Inc. (OTC: CNPOF) (TSX-V: RIV), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), Innovative Industrial Properties, Inc. (NYSE: IIPR), HEXO Corp. (NYSE-A: HEXO) (TSX: HEXO), CannTrust Holdings Inc. (NYSE: CTST) (TSX: TRST)