Canopy Growth adds Seth Rogen's new cannabis brand to its arsenal
Canopy Growth Corp (TSX:WEED) (NYSE:CGC) is adding a cannabis brand founded by Vancouver natives Seth Rogen and Evan Goldberg. Houseplant, which the pair debuted on Wednesday, will have its first strain available in British Columbia starting in April.
Houseplant will rely on Canopy’s production and distribution capacity to sell flower, Softgel and pre-rolled cannabis.
“We have been getting to know the Houseplant team for quite a while now and continue to be impressed by their understanding of the cannabis consumer, attention to detail, and drive towards their vision,” President and co-CEO Mark Zekulin said. “We could not be more excited to partner with them and work towards our shared goal of making Houseplant one of the largest cannabis brands in the world.”
READ: Canopy Growth stock jumps on new cultivation license, expanded partnership
Rogen, the star of such films as Pineapple Express and This is the End, said on Instagram that he and longtime collaborator Evan Goldberg had been working on the company since 2013. In the post, Rogen unveiled Houseplant’s website, which features instructional videos explaining different strains of cannabis and even how to roll a joint.
“Houseplant is a passion we’ve brought to life through drive and dedication,” Houseplant co-founder Seth Rogen said. “Every decision we’ve made for the business reflects the years of education, first-hand experience and respect we have for cannabis.”
The stock fell 2.4% to C$58.31 on the TSX and 3% to US$43.36 on the NYSE.
Contact Andrew Kessel at [email protected]
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Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/217346/canopy-growth-adds-seth-rogen-s-new-cannabis-brand-to-its-arsenal-217346.html
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