The Ontario-based cannabis producer today announced the lifestyle figure will advise on a new line of hemp-derived CBD products for both humans and animals. Canopy has announced it will invest between US$100 million and US$150 million in a hemp industrial park in New York. Canopy’s shares were up more than three per cent following the announcement. (BNN Bloomberg)
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The Ontario-based cannabis producer today announced the lifestyle figure will advise on a new line of hemp-derived CBD products for both humans and animals. Canopy has announced it will invest between US$100 million and US$150 million in a hemp industrial park in New York. Canopy’s shares were up more than three per cent following the announcement. (BNN Bloomberg)
Talking point: The CBD market will increase from US$1 billion to US$16 billion by 2025, one Wall Street shop recently estimated. The use of cannabis for animals remains an untapped market, but in August 2018, Canopy was approved by the Veterinary Drug Directorate of Health Canada to start clinical trials to treat animal anxiety. The company’s health division has 15 trials currently underway, according to financial statements from early February.
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