Canopy Growth Corp (WEED)

[john1311]

Corona beer maker Constellation Brands Inc’s subsidiary has exercised warrants to buy shares of Canopy Growth Corp, increasing its stake to 38.6 per cent in the Canadian marijuana producer.

U.S.-listed shares of Canopy were up nearly 13 per cent in extended trading.

The warrants, which were originally issued on Nov. 2, 2017, were exercised at C$12.9783 per common share for a total of about C$245 million ($174 million), the companies said on Friday.

The common shares represented about 5.1 per cent of the issued and outstanding common shares of Canopy.

https://www.theglobeandmail.com/business/article-constellation-brands-exercises-canopy-growth-warrants/