Canopy Growth

Amid international shakeups, major alcohol distributor Constellation Brands has increased its stake in Canopy Growth Corp. by 5.1 percent, bringing its total stake in the company to 38.6 percent.

Canopy Growth will lay off an additional 200 employees from its facilities in North America and the United Kingdom.

Canopy Growth Corp. has announced a series of changes for the Canadian company, including shutting down all of its operations in Africa, moving to an asset-light model in Latin America, and exiting the U.S. hemp cultivation scene.

Canopy Growth has shut down two cultivation sites, laying off 500 workers in its latest attempt to align the business with slow industry growth.

Canopy Growth has named the CFO of Constellation Brands — the major alcohol distributor who owns about 38 percent of Canopy — as its new CEO.

Drake is the latest celebrity to join forces with Canopy Growth after the hip-hop star announced the founding of More Life Growth Company, which will be based out of his hometown of Toronto, Ontario.

The United Kingdom has given a license to Canada’s Canopy Growth that allows the company to import bulk medical cannabis products into the UK.

Canopy Growth has inked a deal to acquire two research firms, pending regulatory approval.

Canopy Growth’s long-time CEO Bruce Linton is officially out after the Canadian company saw significant losses this year. Linton says the decision stemmed from company directors that were installed by Constellation Brands, an alcohol distributor with 38 percent ownership of the company.

Canadian LP Canopy Growth has agreed to purchase the multi-state cannabis operator Acreage Holdings for a whopping $3.4 billion — but not until cannabis is federally legalized in the U.S.

The agreement will establish a new company, Houseplant, which plans to offer three strains – Houseplant Sativa, Houseplant Hybrid, and Houseplant Indica – over the coming months.

Martha Stewart and Canopy Growth are teaming up to develop CBD products, starting with pet remedies, thanks to a referral from Snoop Dogg’s talent agency.