The Canadian cannabis market is heating up and Canopy Growth Corp (NYSE:CGC) acknowledges that there is a lot if misinformation going around. In light of that, the firm entered an agreement with CARP, an advocacy outfit looking out for the wellbeing of Canadian seniors. The firm entered the partnership through its subsidiary, Spectrum Cannabis.
Notably, the partnership cuts across educating seniors about medical cannabis and making sure that they access quality products. On the one hand, Spectrum Cannabis will offer educational initiatives specifically tailored for CARP membership. The initiatives will address issues such as the medical applications of cannabis and their utility.
Further, seniors will get to learn about the potential of the medical cannabis products substituting less-desirable drugs that tackle cognitive problems and pain. The initiatives are designed to simplify information concerning dosage and strength of products. Also, the initiative categorizes the products according to the levels of CBD and THC present.
On the other hand, CARP will endorse the products that Spectrum Cannabis produces. According to Moses Znaimer, President of CARP, his organization will append its seal on Spectrum Cannabis’ products so that seniors get the best deal. Further, Znaimer is a founder of ZoomerMedia which will provide a platform for Spectrum’s products. He reiterated his confidence in the Spectrum products noting that they stand out in terms of quality and dedication to scientific processes.
Meanwhile, Canopy Growth seems to be on an upward trajectory as it just joined the S&P/TSX 60 Index. In a press release, the company said joining the large cap index is a first for the industry at large. Bruce Linton, founder and Chairman of the company said the accomplishment is a long journey since launching on the TSX Venture Exchange early 2014. Therefore, there is no better way for the Canopy Growth family to celebrate the fifth anniversary since going public.
Following the news, Canopy Growth shares rallied 5.51% on Friday during the pre-market trade. On the year-to-date basis, the stock rallied 49.2% through Thursday last week.
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