HLG The Week In Review 10.26

Hemp market expected to grow to $1.9 billion by 2022, Canopy Growth Acquires ebbu, Colorado marijuana tax explained

This Week in Review

Passage of Legalization Puts California Out Front for Hemp

The Hemp Business Journal estimates that by 2022 the hemp market will grow to approximately $1.9 billion; approval of the pending Farm Bill would only accelerate such growth. The measure also loosens seed-sourcing requirements for farmers. Under previous state law, hemp seed cultivators were required to have been certified on or prior to January 1, 2013, in order to qualify as an approved cultivator; the new law does away with that provision. Farmers may also cultivate hemp through cloning, previously barred in California.  Read more

Canopy Growth Acquires ebbu for $330 million; Continues Aggressive Expansion into Hemp Industry

Canopy Growth Corporation announced it has entered into an agreement to acquire the assets of ebbu, Inc, a Colorado-based hemp researcher. The transaction will complement and accelerate multiple core verticals operating under Canopy Growth’s group of companies, and further demonstrates Canopy’s M&A strategy to acquire hemp cultivation and processing capacity, and intellectual property. Read more

Where Does All The Marijuana Money Go? Colorado’s Pot Taxes, Explained

Ever since Colorado legalized recreational cannabis there’s one perennial question that everyone always asks. Where is all the tax revenue from marijuana sales going? Depending on where you live, the questions may get a bit more specific: If schools get pot money why do they continue to hurt for cash? Are school buildings getting fixed? Why is my town or county seeking tax hikes, aren’t government budgets pot plush? What do we get for our tax money? Where is it ending up? Read more

WATCH: Cramer, Canopy Growth's CEO and Constellation Brands' COO

Watch Jim Cramer's interview with Bruce Linton - CEO of Canopy Growth and Bill Newlands - president of Constellation Brands. They discuss Canada's move to fully legalize marijuana, Canopy's plans for infused Gatorade-like sports drinks and why Linton and Newlands think cannabis will soon be a $200-billion-a-year business. Watch here