Canopy Growth to Invest Up to $500 Million in Hemp Production in U.S. States

Canopy Growth to Invest Up To $500 Million in US Hemp
Image Source: KGWO1972 Via Wikimedia Commons
February 07, 2019

The Canada-based cannabis company previously announced an investment of $100 million to $150 million to process and produce hemp in New York after securing a license from the state’s government officials in January.

It now plans to increase the total investment in U.S. hemp to up to $500 million by adding hemp production in two to three other states in the U.S., Canopy Growth CEO Bruce Linton told Yahoo Finance.

“We’ll do it state by state right now, because what has to happen is the state needs to regulate what is permissible for CBD,” Linton said. “So we’ll probably have three or four states that have big populations and progressive leadership who want to have hemp become part of their actual job creation industrial platform.”

Read the Full Article Here »