Just a handful of weeks after teaming up with the Seth Rogan-founded Houseplant brand to release three new cannabis strains to consumers, Canopy Growth Corporation (TSX:WEED; NYSE:CGC) today announced another major company milestone.
Canopy will officially be added to the S&P/TSX 60 large cap Index beginning at the start of trading on the morning of April 18.
Commenting on the company hitting the market capitalization requirements to join the index, Canopy Growth’s Co-Chief Executive Officer Bruce Linton issued this statement:
In addition to news of joining the index, Canopy today announced a partnership through the company’s wholly-owned subsidiary Spectrum Cannabis.
Advocacy group CARP (Canadian Association for Retired Persons) has now endorsed Spectrum, and the two organizations are teaming up to provide cannabis education to CARP’s 320,000+ strong membership roster.
Those education initiatives will be launched through CARP’S media arm ZoomerMedia, which focuses on a variety of print, web-based, and TV outlets for reaching Canadian citizens.
Through the partnership, Spectrum is seeking new potential medical patients over the age of 45 looking for alternatives to opioids and other chronic pain management drugs.
CARP president Moses Znaimer commented on the importance of cannabis education initiatives to older Canadians:
Znaimer further stated Spectrum products are receiving the organization’s endorsement due to their colour coding system that identifies levels of CBD and THC to aid patients in accurately treating their ailments.
Existing members of the retiree group will also receive preferred pricing promotions on Spectrum products granted the CARP Recommendation seal.
In other recent company news, Canopy Growth is set to expand into U.S. hemp operations after acquiring producer AgriNextUSA. That acquisition is to be followed by a $100 million investment for a new industrial hemp farm in New York.