New York-Based Constellation Brands Buys Stake In Pot Producer

VICTOR, NY — Constellation Brands, a spirits maker based in Victor, New York, is buying a minority stake in Canadian medicinal marijuana producer, Canopy Growth. Constellation Brands Inc. will pay $245 million Canadian dollars ($190.5 million) for a 9.9 percent interest in the pot producer.

Constellation said Monday it doesn't plan to sell marijuana in America or any other market until it's legal at all government levels.

Shares of Canopy Growth Corp., with the ticker symbol "WEED," jumped almost 14 percent in Toronto.

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