Canadian cannabis giant Canopy Growth Corporation (NASDAQ:CGC) (TSX:WEED) announced its intention to consolidate in the US via a new holding company dubbed Canopy USA, LLC on Tuesday.
The move, which will streamline the company's entry into the US market, would allow it to acquire Acreage Holdings, Inc (OTC:ACRDF) (70%), Wana Brands (100%) and Jetty (100%) and position itself for legalization of marijuana on the federal level. In addition, Canopy also controls a conditional ownership position, assuming conversion of its exchangeable shares and the exercise of its option though excluding the exercise of its warrants, of approximately 13.7% in TerrAscend Corp. (CSE:TER) (OTCQX:TRSSF).
