The drink company that owns Corona beer has bought a stake in a Smiths Falls cannabis company.
Constellation Brands, an American-based company, bought 9.9 percent of Canopy, which started three years ago in an old chocolate factory in Smiths Falls.
Today, Canopy is the world’s largest publicly traded cannabis company with a market capitalization of over two billion dollars. The deal between the two companies is for $245-million and is the largest single investment ever made in a cannabis company.
Prime Minister Justin Trudeau has said he’d like to see cannabis legalized across Canada by next July.