Canopy Growth Pushes Back Launch of Cannabis Beverages
Canopy Growth (NYSE: CGC) announced on Friday that it was revising its schedule for launching cannabis-infused beverages in Canada's new "Cannabis 2.0" cannabis derivative products market. The company didn't give a new date for rolling out its new beverage products but stated in a press release that it "does not believe this delay will have a material impact on its FY20 revenue."
Canada's new regulations for cannabis derivative products went into effect on Oct. 17, 2019. However, a 60-day notification period is required before companies can launch new cannabis products. In addition, facilities involved in producing the products must receive appropriate licensing.
Image source: Getty Images.
Source Fool.com
