Constellation Brands is upping its stake in Canopy Growth by $4 million to 38%.
The investment overshadowed a bigger-than-expected first-quarter loss by the Canadian cannabis company.
Shares of CGC surged more than 50% following the announcement.
Follow Canopy’s stock price in real-time here.
Canopy Growth, the largest publicly traded marijuana company, fell short of Wall Street’s earnings expectations on Tuesday, but news of a new investment overshadowed the larger-than-expected loss.
Shares of the Canadian company surged more than 50% in early trading Wednesday after Canopy announced Constellation Brands — the $42 billion company behind Corona — had upped its investment in the marijuana grower by $4 million and now owns a 38% stake.
Canopy Growth said in a press release that the proceeds will allow it to “strategically build and/or acquire key assets needed to establish global scale in the nearly 30 countries pursuing a federally permissible medical cannabis program, while also rapidly laying the global foundation needed for new recreational cannabis markets.”
In an interview with Business Insider in July, Canopy Growth’s CEO, Bruce Linton, explained he wouldn’t have chosen just any alcohol brand to work with, but that Constellation’s entrepreneurial spirit made it stand out despite its $42
Source:: Businessinsider – Finance
Melissa Howard, who was running for a seat in the Florida House of Representatives, admitted lying about having a degree.
She posted an image on Facebook of herself posing with a certificate, but it was falsified.
While Howard did attend Miami University, Ohio, she never graduated and doesn’t hold a degree.
Initially she planned to ride out the bad publicity, but withdrew on Tuesday.
A Republican politician has pulled out of a state election in Florida after she admitted faking her degree certificate.
Melissa Howard, who was running in the GOP primary to contest a seat in the Florida House of Representatives, was called out for falsifying details of her time at college.
Local news outlet FLA News Online broke the story. It had asked repeatedly for proof of her alleged qualification — a degree in marketing from Miami University in Ohio — and were initially ignored.
Eventually Howard posted a photograph to Facebook (since deleted) of herself sitting on a sofa holding a large certificate which appeared to be her degree.
Melissa Howard, a #Republican candidate for the Florida House, lied about having a college degree and posed with a fake diploma after a news outlet questioned her credentials: https://t.co/HkQKq7va3K pic.twitter.com/wjmXu58QTu
Source:: Businessinsider – Politics
Lyric McHenry has been found dead at the age of 26 [Instagram/Lyric McHenry]
The body of “pregnant” 26 year old reality TV star Lyric McHenry has been found on a New York street.
Her body was found on 14 August just after 5am. She was found wearing only a pyjama top and a pair of underwear.
She was best known for producing and starring on EJNYC, a spin-off series from Rich Kids of Beverly Hills.
She uploaded this photo just two days before her tragic death …
Source:: Ok – Celebrity news
Conservative commentator Ann Coulter recently suggested that President Trump stop hiring Apprentice contestants and his children and start bringing on “smart people.”