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Acreage Will Use Canopy’s Clout to Do More Deals, CEO Says

  • Appeal of Canopy’s stock will help Acreage in U.S. land grab
  • $3.4 billion acquisition depends on U.S. pot legalization
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Cannabis Can't Be Ignored at a Federal Level, Canopy Co-CEO Says

Acreage Holdings Inc. plans to use its pending acquisition by Canopy Growth Corp. to bulk up in the U.S. even before the deal closes, using the clout and spending power it’s gained to dominate an accelerating cannabis land grab.

“Since announcing this deal, we’ve had a number of folks come to us and say, ‘We had contemplated a sale of our business, we had entertained a number of partners, and we would now like to redirect our efforts towards you and align with you guys,’” Acreage Chief Executive Officer Kevin Murphy said in a phone interview Monday.