Canadian marijuana breeder Canopy Growth announced Thursday that Acreage Holdings has acquired US $ 3.4 billion following the legalization of cannabis in the United States.
New York-based Acreage Holdings is one of the largest multi-state cannabis operators in the United States and represented in 20 states. He pays off with the development of a consumer-focused branded cannabis product line and has leveraged John Boehner's chairman and former US House Speaker in his efforts on Wall Street.
Canopy Growth, for its part, remains one of the world's leading companies, the largest players in the burgeoning cannabis industry. The company is perhaps best known in the United States for its partnership with corona beer maker Constellation Brands and for planning a hemp operation in the state of New York. It has announced partnerships with both Martha Stewart and Seth Rogen in 201
But despite the announcement, the deal is still facing a number of important questions. Although several US states have approved the use of marijuana for recreational purposes in recent years, the use of the plant continues to be prohibited by federal law.
Even in states that have approved the recreational use, the National Banks could accept deposits or loans for cannabis companies They are prone to a lawsuit by the Department of Justice and the wrath of the Food and Drug Administration. The FDA prohibits companies from adding drugs that are drug products in foods and beverages.
The deal could also contradict them with the stock exchanges on which they are listed, which have their own policies on illicit business practices. 19659003] "So far, the Nasdaq was unwilling to list companies that are conducting cannabis operations in the US," said David Feldman, lawyer for cannabis, partner at Duane Morris. "Interestingly, they did not tie this to Nasdaq, but tied it to legalization."
"It's interesting that they limit themselves to legalization rather than completing the acquisition, when the TSX and Nasdaq are ready to allow this listing," he added.
Part of this uncertainty was eliminated late last year when the recent US draft agriculture hemp on the Federal Government's controlled substances list opened remote and emerging markets in CBD, cannabidiol.
remain, however, for those who want to sell money from the marijuana business or do banking business. Federal regulations currently prevent banks from cooperating with legal dispensaries in the US and require banks and other financial companies to submit "suspicious activity reports" to monitor money laundering.