BioSteel Sells Majority Stake to Canopy Growth

BioSteel Sports Nutrition Inc. was founded in 2009 by co-founders and co-CEOs John Celenza and ex-NHL player Michael Cammalleri. Their focus has been on using premium natural ingredients, product transparency, and identifying the essential nutrients needed to power physical activity.

It was recently announced that the cannabis company Canopy Growth Corp. has purchased a 72% majority stake in BioSteel Sports Nutrition Inc. This new acquisition positions Canopy Growth to enter the sports nutrition and hydration industry, with a brand that has become known as a leading choice of hydration products for high performance athletes.

"The use and acceptance of CBD-based products in the professional sports landscape has changed. We have witnessed the negative effects of prescription painkillers and athletes are looking for healthier alternatives,” said Michael Cammalleri, Co-Founder and Co-CEO, BioSteel Sports Nutrition. “Its presence is already commonplace amongst NHL players and as a regular CBD user myself, I couldn’t be more proud to champion BioSteel’s evolution and leadership in this space.”

As the second phase of cannabis legalization has come into effect in Canada, it creates the potential for numerous business opportunities, not only for the recreational users, but also for athletes.

For more information and to stay up to date, be sure to visit the BioSteel website.

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Source: cbc.ca