Canopy Growth Corporation is about to expand into the United States.
The Canada-based company is celebrating the passage of the US Farm Bill, which contains within it the the language of the Hemp Farming Act of 2018.
Bruce Linton, Chairman & Co-CEO, Canopy Growth Corporation, commented: “Canopy Growth commends the United States government for passing the Farm Bill, a transformative piece of legislation that will create jobs and meaningful economic impact across the United States.”
“Canopy Growth will participate in the American market now that there is a clear federally-permissible path to the market. Consistent with the spirit of the Farm Bill, Canopy Growth will participate in ways that support American farmers.”
“Canopy Growth will participate in the American market now that there is a clear federally-permissible path to the market.”
Bruce Linton, Canopy Growth
Thanks to a hemp-specific portfolio of intellectual property acquired from Colorado-based ebbu Inc. and a landmark investment of USD $4 billion from Constellation Brands, Canopy’s management believes it is well-positioned to enter the US market quickly.
The Hemp Farming Act of 2018 aims to remove hemp (defined as ‘cannabis with less than 0.3% THC’) from ‘Schedule I controlled substances under US law.
Instead, it will be made an ordinary agricultural commodity.
The bill’s provisions were incorporated in the 2018 United States farm bill that became law on December 20.Cannabis Business Worldwide