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Marijuana grower Canopy Growth Corp. surged to the highest in five months after becoming the first weed producer in North America to graduate to a major exchange.

Shares of Smiths Falls, Ont.-based Canopy, which will take its place on the Toronto Stock Exchange starting Tuesday, jumped 14.5 per cent to close at $3.24 in Toronto — the highest level for Canopy since November. The stock is up 8.8 per cent this year, on track for a third annual advance.

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“Being the first cannabis producing company in North America listed on a major exchange such as the TSX strengthens the sector,” Bruce Linton, chief executive of Canopy, said in a restatement. “The addition of Canopy Growth helps signal that the world’s view of cannabis has finally shifted, starting right here in Canada.”

Canopy will be the first marijuana stock listed on the TSX a spokeswoman with exchange operator TMX Group Ltd. confirmed in an email.