Cannabis legalization in the U.S. has hit a couple of snags in recent weeks as New Jersey's full legalization efforts collapsed, but Canopy Growth (CGC) - Get Report CEO Bruce Linton is not concerned about the minutia of American political leanings on marijuana, he believes his company can reach all of its goals through just the Canadian and international markets.
Linton sat down with TheStreet at the CWCB Expo in New York to discuss his company's trajectory and the future of cannabis, not only in the U.S., but globally.
"Canada is sort of a maturing market. The reason we're not rushing to be highly profitable in the next 12 to 24 months is that we believe this business can be replicated globally and we can be a leader and that will make a much bigger top line," Linton said. "So the primary driver is more stores in Canada with more retail formats that peopleare going to go to stores for and increasing exports in Germany, England and Poland. We have nothing in over the next 24 months that requires input from the U.S."
In spite of this, the company is still hedging its bets in the U.S. with the acquisition of Acreage Holdings. However the deal has come under some scrutiny with some shareholders saying that the agreement isn't sweet enough. We asked Linton about the benefits Acreage shareholders will see under the agreement ahead of the important shareholder vote to be held June 16.
To watch the full interview, take a look at the video above.