Aphria is one of several voices advocating for pharmacies to be permitted to distribute medical cannabis.
CannaRoyalty is purchasing Kaya Management and Alta Supply, which manufacture and distribute marijuana vaporizer pens, chocolate and other products.
The agreement is a way to shed pot’s “stoner stigma” and give the industry more credibility among investors and some segments of the public, expert says.
All-stock deal is first full-scale acquisition for Cannabis Wheaton, which provides seed investment to marijuana producers in exchange for a cut of future production at a fixed price.
Canopy CEO Bruce Linton said the partnership marks the first major wine, beer and spirits producer to invest in legal cannabis and will lead to collaboration on cannabis-based drinks.
Partnership is latest international expansion for Ottawa-area company, which already has presence in Australia, Denmark, Germany and Spain.
Despite its own shares falling as much as 9%, Ottawa-area pot producer Canopy Growth praised the regulator's move.
Firm breaks ground on new $25M growing facility with plans to capture 10% of domestic recreational market
Canopy Growth (TSX:WEED) is making headlines again this week, this time reaching a deal worth millions of dollars to supply cannabis to Ne
Canopy Growth already owns a minority stake in the Perth-based company, and Canopy CEO Bruce Linton is a member of the firm’s board of directors.