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No one doubted this deal would be approved. Canopy Growth, the Smiths Falls marijuana products company, confirmed Wednesday that shareholders representing more than 95 per cent of the company’s shares have approved a deal that will see Constellation Brands invest $5 billion.

“This sounds like a big number,” Canopy Growth CEO Bruce Linton told shareholders, “but we already know how to spend it and are figuring out priorities.”

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Constellation Brands, a U.S. beer, wine and liquor company, will now be able to bump up its ownership stake in Canopy from 8.5 per cent to 38 per cent. It also has the right to increase its equity position to 55 per cent.

It’s a potentially transformative deal both for Canopy and the marijuana products industry it is seeking to dominate — something that was reflected in the stock market bubble that popped up when Constellation Brands announced its investment on Aug. 15.