MJBizMag January 2022 - 13
FIVE QUESTIONS
distribution opportunities to the
table. And what kind of partner
seems to be investing in the industry
for the long run and has the
resources to really hang in there.
The investment (in Canopy
Growth by alcohol giant)
Constellation Brands brings that
financial resource.
And through Constellation, they
bring a partner who is very skilled
at building premium brands and
has a lot of ... distribution in their
ecosystem.
Then we looked at who is doing
some interesting things, long term,
to win in the United States.
Obviously, Canopy has made other
investments, not just Wana. They
have a similar relationship with
Acreage; they've made a significant
investment in TerrAscend.
So, they have a number of
interesting and strong brands, (such
as) the Martha Stewart CBD brand,
that were of interest.
It really seems like a good fit
for us.
Canopy said the proposed
acquisition is conditioned on
" federal permissibility of THC
in the U.S. " Why structure the
deal that way?
Canopy is dual-listed. They're listed
on the Toronto Stock Exchange, and
they're also listed on the Nasdaq.
The Nasdaq does not currently
allow plant-touching companies
in the United States. If (Canopy)
directly owned Wana, they would
be owning a plant-touching
company. And so that's what
prevents it.
What's next for you? Is it
business as usual for a while?
It is mostly business as usual. I'm
remaining as the CEO. I remain the
owner of the company because this
was an option to acquire, not an
acquisition.
We're executing on our two major
strategies ... which are to get to
the best markets quickly and to
focus on innovation and R&D and
next-generation products.
This interview has been edited for
length and clarity.
Bart Schaneman covers
cultivation and extraction
for MJBizMagazine. You
can reach him at bart.
schaneman@mjbiz.com.
mjbizdaily.com | January 2022 13
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MJBizMag January 2022
Table of Contents for the Digital Edition of MJBizMag January 2022
MJBizMag January 2022 - 1
MJBizMag January 2022 - 2
MJBizMag January 2022 - 3
MJBizMag January 2022 - 4
MJBizMag January 2022 - 5
MJBizMag January 2022 - 6
MJBizMag January 2022 - 7
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