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msg #144714
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9/20/2018 7:40:19 PM
https://finance.yahoo.com/news/10-billion-marijuana-producer-just-140900286.html
Canopy Growth, a $10 billion Canadian marijuana firm, is spinning off its venture-capital arm, which began trading at $18.44 per share Thursday morning
Canopy Rivers makes minority investments in burgeoning marijuana companies as part of its goal to become the 'Google Ventures of cannabis.'
Watch Canopy Growth trade in real time here.
Canopy Rivers, the venture-capital arm of Canopy Growth, made its debut on the Toronto Stock Exchange Thursday morning at $18.44 per share.
The company, which makes minority investments in burgeoning marijuana companies, in an attempt to become the "Google Ventures of cannabis," found its way onto the exchange via a reverse takeover with a company formerly known as AIM2 Ventures.
Canopy Growth will maintain its roughly 25% stake in Canopy Rivers, and controls about 90% of the voting rights thanks to the venture arm's dual-class governance structure. The other three quarters of Rivers' roughly $200 million of investments have come from institutional investors.
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