Earlier this month I was fortunate enough to link up with John Salley. John Salley played 15 seasons in the National Basketball League (NBA), in addition to being an accomplished actor, writer, and several other things. John Salley ‘wears a lot of hats’ as the saying goes. Among many things, John Salley is an investor. One thing that came up in the course of our conversation was that John was an early investor of Canopy Growth Corp. Canopy Growth is Canada’s largest marijuana company.
These days it is well known that Canopy Growth Corp. is crushing it, reporting last May that revenue had tripled in the preceding one year period. Canopy Growth is now selling on the Toronto Stock Exchange under the stock ticker WEED, and is worth an estimated $1.3 billion dollars. People that got in two years ago now look like geniuses. John Salley is one of those people. “I decided rather than investing in something like McDonald’s or whatever else was is out there, I went with the cannabis industry, and specifically Canopy. It has proven to be one of the best investments I’ve ever made.” John Salley said.
These days the cannabis industry seems like it’s everywhere. Two years ago that was not the case. Two years ago Colorado was barely starting it’s second year of adult-use cannabis sales, Washington was still in its first year (and experiencing hurdles to say the least), and Oregon was just months into a limited version of adult-use sales via medical dispensaries. In Canada around that time there were several medical marijuana producers, with more seeking approval. It was unclear which would sink and which would thrive. None have thrived as hard as Canopy Growth and the fact that John Salley had the wisdom and foresight to get involved is significant.
Now Canopy Growth is looking to expand to other countries, having already entered Germany’s medical cannabis industry. Tweed is a subsidiary of Canopy Growth (along with many other subsidiaries now), and recently teamed up with Snoop Dogg, which has helped catapult the company into the cannabis industry stratosphere. John Salley was there two years before Snoop…It kind of makes you wonder what other investment ideas John Salley has in his head! John will be appearing at the International Cannabis Business Conference this week, doing the celebrity interview. Conducting the celebrity interview is longtime cannabis media personality Steve Bloom, who I have always had a tremendous amount of respect for. I have seen Steve conduct the celebrity interview at other events with Tommy Chong, and it’s one of the most entertaining things I’ve ever seen.
Also speaking at the event will be Canopy Growth’s founder, Chuck Rifici, founder of Canopy Growth. Gavin Newsom will be there, Henry Rollins will be there, more successful cannabis entrepreneurs that you can imagine will also be there. If you are serious about the industry, and want to learn from the best (including cannabis investment whisperer John Salley!) you should be there too. There’s going to be a VIP reception the night before the event, as well as a VIP after party. That’s going to be PRIME networking time. In a seemingly never ending supply of bootleg cannabis industry and policy events out there these days, I can honestly say that the International Cannabis Business Conference is hands down one of the best. A very limited number of tickets are still available at this link here.
image via Canopy Growth website