Grow Life 420

It seems marijuana stores in Canada’s capital province of Ontario will remain open for now in the wake of the SARS-CoV-2 coronavirus pandemic. A report in BNN Bloomberg, citing a pair of sources “directly familiar with the matter,” says that dispensaries will not fall under the category of “non-essential businesses” that are being shut down beginning just after midnight on Tuesday, March 24.

On Monday, Ontario Premier Doug Ford mandated the temporary shutdown, a measure that will last for 14 days. The ban could be extended, depending on how the situation with the coronavirus develops in the province.

According to the statement, a complete list of “essential” businesses will be published and disseminated on Tuesday. No mention was made of cannabis companies.

– Read the entire article at The Motley Fool.

The acquisition streak in the marijuana industry just got a bit longer. Canadian producer Canopy Growth (NYSE: CGC) announced it has reached a deal to fully acquire a research joint venture it co-founded in 2018.

That business is Beckley Canopy Therapeutics, described by Canopy Growth as an entity designed “to research and develop clinically validated cannabis-based medicines, with a strong focus on intellectual property protection.” Canopy Growth disclosed neither the terms nor the price of its acquisition.

With the deal, Canopy Growth will also become the full owner of Spectrum Biomedical UK, an entity formed to distribute the company’s medicinal cannabis products. Currently, Spectrum Biomedical UK is a joint venture between Canopy Growth and Beckley Canopy Therapeutics that was formed in January.

– Read the entire article at Yahoo News.