Canopy Growth Expands Global Presence by Acquiring New York Hemp License
As the United States continues to grapple with cannabis legalization on the federal level, a number of companies in Canada are positioning themselves to succeed on a global scale. But few have managed to spread their roots like the Ontario-based Canopy Growth Corporation. Already known for its high quality ganja brand Tweed, the company has been eyeing a market that stretches far beyond the Great White North.
Earlier this week, Canopy Growth announced that it had acquired a license in New York state to produce and process hemp. With the assistance of Gov. Andrew Cuomo and Sen. Chuck Schumer (NY-D), the Canadian cannabis entity is planning to build a large-scale operation for hemp extraction and product manufacturing within the United States.
The license was granted just weeks after Gov. Cuomo presented his plan to legalize recreational cannabis across New York in 2019; and a month after hemp production was federally legalized in the United States via the 2018 Farm Bill– a measure that Sen. Schumer was instrumental in getting to pass.
Canopy Growth Attempts to Corner U.S. Hemp Market
Originally founded in 2013, Canopy Growth has been fortunate enough to have a few years to build a solid