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The U.S.-listed shares of Canopy Growth Corp. CGC, +1.22% WEED, +1.22% rose 2.0% in prmarket trading Thursday, after the Canada-based cannabis company announced an agreement to buy Wana Brands, which the company says is the number one edibles brand in North America by market share. The deal will go into effect once THC becomes federally permissable in the U.S. The deal is structured as three separate option agreements, with Canopy making an upfront cash payment of $297.5 million as consideration for entering into the agreements.
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