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Cannabis Giant Acquires Pa. Hemp Company

Canopy Growth Corp. reportedly plans to build a series of industrial hemp parks as part of its expansion plan.

In this April 23, 2018, file photo, hemp branches hang drying at Big Top Farms' production facility near Sisters, Ore.
In this April 23, 2018, file photo, hemp branches hang drying at Big Top Farms' production facility near Sisters, Ore.
AP Photo/Don Ryan

A Canadian cannabis business giant has bought Pennsylvania-based hemp company AgriNextUSA as part of a plan to build up its hemp reach in the U.S.

The Philadelphia Inquirer reports Canopy Growth Corporation is planning to build a series of industrial hemp parks across the country, including Pennsylvania, as part of its expansion plan.

AgriNextUSA head Geoff Whaling says the hemp parks will include textile mills and cannabidiol, or CBD, extraction facilities.

He says he will be reaching out to farmers to encourage them to grow the hemp crop.

Hemp can be used for many commercial items including paper, clothing, paint and more.

The Ontario-based corporation is the world’s largest cannabis company with a market capitalization of $15.7 billion.

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