canopy growth went public in canada on may 24, 2018.
canopy growth went public in canada on may 24, 2018.
when did canopy growth go public in canada?
may 24 , 2018
canopy growth was the first federally regulated, licensed, publicly traded cannabis producer in north america, traded on the toronto stock exchange as "weed". it began trading as "cgc" on the new york stock exchange on may 24, 2018, as the first cannabis producer on the nyse. on october 17, 2018, marijuana became legal in canada for recreational use. canada's first legal cannabis sale was made at midnight by ceo bruce linton at a tweed store in st. john's, newfoundland and labrador.
canopy growth
several manufacturers were based in smiths falls, perhaps the best-known being the canadian operation of the hershey company (opened in 1963) which closed in december 2008. hershey announced they would instead open a factory in mexico where they could obtain cheaper labour. in late 2006, the plant was temporarily closed due to a case of possible salmonella contamination. other former large manufacturers include rca victor (closed circa 1980), frost and wood / cockshutt and stanley tools (2008). the closure of the rideau regional hospital site in march 2009 resulted in a further loss of jobs from the community. however, the 350 acre site was purchased by a local developer (who made an unsuccessful bid for mayor in the 2018 election) and re-named the gallipeau centre. it is a mixed use property with residential and recreational uses including condominiums, a recreational facility, swimming pool and theatre. in 2014, the former hershey facility was purchased by medical marijuana company tweed marijuana inc, now known as publicly traded company canopy growth corporation (tse:weed). the town has been cited as the "pot capital of canada". over 750 jobs have been created by canopy growth which has revitalized the town's economy after the departure of the hershey factory and the closure of rideau regional centre.. investment by constellation brands of $5b in canopy growth corporation has helped further secure the positive economic potential for smiths falls. the company is continuing to grow and expand, creating new local jobs. canopy has purchased the site of the closed shorewood packaging building to construct a facility for bottling cannabis infused beverages. as well, chocolate has begun to flow again at the site of the former hershey plant as canopy growth has commenced the production of cannabis infused chocolate edibles. there has been significant growth in construction in the community.. in addition, a local golf course located just outside of smiths falls (formerly the lombardy glen golf course) has been purchased and is now a cannabis friendly course under the name “rolling greens”. . the ceo and founder of canopy growth, bruce linton, was terminated from canopy in july, 2019.
smiths falls