The federal government says it will review Constellation Brand Inc.’s proposed $5 billion investment in Canopy Growth Corp.
The alcohol giant announced earlier this month it would invest in the Smiths Falls-based marijuana producer, giving it a 38 per cent stake in the company.
The department of Innovation, Science and Economic Development Canada says in a statement that the deal is subject to review under the Investment Canada Act.
OBJ360 (Sponsored)

Hard Rock Hotel & Casino Ottawa is the company’s new Canadian jewel
There’s a buzz of excitement at Hard Rock Hotel & Casino Ottawa as a $350-million transformation of the former Rideau Carleton Raceway nears completion. This high-energy entertainment destination will soon

Custom sleep starts at Obasan: Organic comfort, tailored to you
Obasan believes that superior sleep is essential to a healthy, happy life. That’s why every product it makes is organic, sustainable, and thoughtfully handcrafted in its carbon-neutral Ottawa workshop: So
It says all foreign investment transactions, such as this one, will be reviewed on its merits based on the overall economic benefit for Canada.
The department says the government must review proposed acquisitions of Canadian businesses by foreign companies when the value of the business is $1.5 billion or more for investments originating in trade-agreement-partner countries.
Canopy Growth previously said the capital will be used to fuel its accelerated global growth.