Constellation/Canopy Makes Big U.S. Play

Dear Client: Constellation's weed partner, Canopy Growth, announced an arrangement that grants Canopy "the right to acquire 100 percent of the shares" of New York-based Acreage Holdings, which is a vertically integrated cannabis company with operations in 19 U.S. states. Acreage owns cannabis licenses and assets, and last year launched a national retail brand dubbed The Botanist. CONTINGENT ON TRIGGER EVENT. The deal comes "with a requirement" to acquire "at such time as cannabis production and sale becomes federally legal