The deal between Canopy Growth and Acreage Holdings is contingent on the demise of federal marijuana prohibition. Could it be a sign that cannabis is on the verge of going legal nationwide -- and soon?
Sometimes it is necessary to read between the lines. So, when the largest cannabis company in the world enters into a multi-billion dollar deal with a well-known American cannabis firm -- one that is set to take effect only after the federal government repeals marijuana prohibition -- it is hard not to consider the possibility thatand that maybe, just maybe we are closer than we think to living in a time when marijuana is taxed and regulated nationwide in a manner similar to alcohol and tobacco.
Although the deal is still contingent on several details – like stockholder agreement and regulatory approval by both the U.S. and Canada – neither company seems concerned that their mingling will be contested. There are a few rather interesting aspects of this arrangement. The first of which is the fact that Constellation Brands, maker of the beers Corona and Modelo, ownsin Canopy, and has an opportunity to take controlling interest in the next few years.
“I’ve been having more and more meetings with my friends and colleagues on the Hill about this — some of the most conservative politicians around and their views are evolving on cannabis, too, just like the American people,”Boehner has also indicated that full-blown legalization is already a hot topic of discussion and on its last leg. “I have a strong suspicion we won’t be waiting five years to see the federal government legalize cannabis,” he said. “I’ve got to choose my words carefully.
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