Cannabis-company Canopy Growth Corp (NYSE:CGC)'s relationship with publisher, entrepreneur and TV personality Martha Stewart dates back more than three years, company co-CEO Bruce Linton said on CNBC's "Squawk on the Street" Thursday.
What Happened
Linton recalled a story where he received an e-mail more than three years ago from rapper Snoop Dogg and the two initially collaborated on a line of marijuana products. At the same time, Snoop co-hosted a variety show with Stewart and an introduction was made.
Stewart eventually agreed to take an advisory role at Canopy Growth. Stewart will be tasked with leveraging her knowledge of consumer products and helping the company develop a line of CBD products across various categories, starting with pets.
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Stewart's brand is so powerful "you don't even need to say her last name," Linton said. The brand attracts everyone from a younger crowd that thinks her "Pot Luck" show with Dogg is "hilarious" to those who subscribe to her magazine and "really love her style," he said.
"What we really just wanted to have was an on-ramp conversation — and it has been huge."
Looking Ahead
CNBC's Sara Eisen asked Linton what's ahead for Canopy Growth.
Linton highlighted the company's partnership with Constellation Brands (NYSE:STZ) and said "we have in Canada some rules coming out that will allow us -- we expect in Q4 to make beverages and sell them as a product that's really scientifically driven."
Linton doubled down on what Canopy Growth is trying to do with cannabis.
"Good science leads to great products, which turns into the reason people want them," he said.
Canopy Growth's outlook is full of partnerships and collaborations. Most recently, the company said it's teaming up with the National Hockey League's Alumni Association to research concussions and cannabinoids in a clinical study.
The stock traded around $45.04 at time of publication.
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Photo by Dustin Blitchok.
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