Cannabis companies that have access to capital will be best equipped to weather the upcoming storm brought forward by the COVID-19 pandemic, according to a former co-chief executive officer of Canopy Growth Corp.
Bruce Linton, now executive director of U.S. cannabis operator Vireo Health International Inc., told BNN Bloomberg on Monday that his former company, as well as Cronos Group Inc., are in a select group of well-capitalized cannabis companies that should be able to emerge from the current crisis.
"Canopy and Cronos each have more than a billion dollars, so they're in an extremely solid spot. Aphria has a bit of a war chest too," Linton said.
"After that, I frankly don't see cash coming in. U.S. companies are very busy but their access to capital is quite limited. Anything that was starting in Europe has been stalled for the past four, five weeks."
Read more at bnnbloomberg.ca