Now that Canada’s Canopy Growth Corp. has become the first marijuana grower to trade on a major North American stock exchange it’s gearing up for its next big challenge: convincing banks to lend it money.
The company is looking to fund expansion as it grows internationally and Canada inches closer to full legalization of the drug that’s now allowed for medical use, Bruce Linton, chief executive officer, said in an interview July 25.
“Real, legitimate debt has been the principal absent business instrument of this sector,” Linton, 49, said after appearing on Bloomberg TV Canada in Toronto. “If I was producing tomatoes that yielded this margin in these buildings, I’d have a lineup of debt instruments available.”
