Nasdaq GlobeNewswire

Constellation Brands to Acquire Minority Stake in Canopy Growth Corporation

Del

The investment and relationship will lend insights on the emerging cannabis market and evolving consumer trends

VICTOR, N.Y., Oct. 30, 2017 (GLOBE NEWSWIRE) -- Constellation Brands (NYSE:STZ) (NYSE:STZ.B), a leading beverage alcohol company, today announced that it has signed an agreement to acquire a minority stake in Ontario, Canada-based Canopy Growth Corporation, a well-respected public company and leading provider of medicinal cannabis products.

This investment and relationship is consistent with Constellation Brands' long-term strategy to identify, meet and stay ahead of evolving consumer trends and market dynamics, while maintaining focus on its core total beverage alcohol business. Constellation has no plans to sell any cannabis products in the U.S. or any other market unless or until it is legally permissible to do so at all government levels.

"Canopy Growth has a seasoned leadership team that understands the legal, regulatory and economic landscape for an emerging market that is predicted to become a significant consumer category in the future," said Constellation Brands President and Chief Executive Officer, Rob Sands. "Our company's success is the result of our focus on identifying early stage consumer trends, and this is another step in that direction."

Founded in 2014, Canopy Growth Corporation is one of the earliest commercial players in Canada's legal cannabis market. The company is currently traded on the Toronto Stock Exchange (TSX) under the symbol "WEED" and has a market cap of more than C$2 billion. The company owns a collection of diverse brands serving customers in Canada and international markets where medicinal cannabis products are legal. In conjunction with this investment, both companies intend to enter into an agreement to exchange knowledge and expertise.

"We are thrilled to have the backing of such a well-established and respected organization such as Constellation Brands," said Bruce Linton, Chairman and Chief Executive Officer, Canopy Growth Corporation. "We look forward to working with the Constellation Brands team to access their deep knowledge and experience in growing brands as we continue to expand our business."

The investment is expected to approximate C$245 million representing an ownership interest of 9.9% of Canopy Growth Corporation, plus warrants which give Constellation Brands the option to purchase an additional ownership interest in the future. The transaction is expected to close during the Company's third quarter of fiscal 2018.

About Constellation Brands
Constellation Brands (NYSE:STZ) (NYSE:STZ.B), a Fortune 500® company, is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Mexico, New Zealand, Italy and Canada. Based in Victor, N.Y., the company believes that industry leadership involves a commitment to brand building, our trade partners, the environment, our investors and to consumers around the world who choose our products when celebrating big moments or enjoying quiet ones. Founded in 1945, Constellation has grown to become a significant player in the beverage alcohol industry with more than 100 brands in its portfolio; about 40 wineries, breweries and distilleries; and approximately 9,000 talented employees. We express our company vision: to elevate life with every glass raised.

To learn more, follow us on Twitter @cbrands and visit www.cbrands.com.

About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Through its wholly-owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over half a million square feet of GMP-certified indoor and greenhouse production capacity, all to an unparalleled level of quality assurance procedures and testing. Canopy Growth has established partnerships with leading sector names in Canada and abroad, with interests and operations spanning four continents. The Company is proudly dedicated to educating healthcare practitioners, providing consistent access to high quality cannabis products, conducting robust clinical research, and furthering the public's understanding of cannabis. For more information visit www.canopygrowth.com.

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The words "expect," "intend" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to business strategy, future operations, prospects, plans and objectives of management, as well as information concerning expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements.

The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that such results will in fact occur or will occur on the timetable contemplated hereby. The transaction between Constellation Brands and Canopy Growth Corporation is subject to the satisfaction of certain closing conditions, including receipt of any necessary regulatory approvals. There can be no assurance that any transaction between Constellation Brands and Canopy Growth Corporation will occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release and Constellation Brands undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including completion of the announced transaction; the accuracy of all projections; and other factors and uncertainties disclosed from time-to-time in Constellation Brands, Inc.'s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2017, which could cause actual future performance to differ from current expectations.

CONTACTS
Media 
Mike McGrew: 773-251-4934
Amy Martin: 585-678-7141

Investor Relations
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170 




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Constellation Brands, Inc via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

Cloudian Joins iRODS Consortium18.9.2018 15:00Pressemelding

HyperStore Enterprise Object Storage Validated with iRODS Platform SAN MATEO, Calif., Sept. 18, 2018 (GLOBE NEWSWIRE) -- Cloudian today announced the company has joined the iRODS Consortium, the foundation that leads development and support of the integrated Rule-Oriented Data System (iRODS). Testing for HyperStore enterprise object storage with iRODS is complete, and users may now deploy the combined solution where local workflows require cost-effective, exabyte-scalable storage and ease of integration. iRODS is free open source software for data discovery, workflow automation, secure collaboration and data virtualization used by research and business organizations around the globe. Easily deployed in an existing infrastructure, iRODS creates a unified namespace and a metadata catalog of all the data and users within the storage environment. With the iRODS rule engine framework, users can completely automate an organization’s data management policy. “We’re thrilled to be working with

Harbert European Growth Capital Announces Final Close18.9.2018 14:35Pressemelding

LONDON, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Harbert European Growth Capital (“HEGCF”), is pleased to announce the final close of its second fund (“Fund II”) at €215 million, a substantial increase over Harbert European Growth Capital Fund I (“Fund I”). HEGCF, which provides debt capital to fund growth opportunities across technology, life science and other innovative sectors attracted significant institutional capital, as well as numerous family office investors. “We are grateful for the support and trust that our existing and new investors have placed in us,” said David Bateman, Senior Managing Director and co-head of HEGCF. “The market opportunity remains strong with many companies across Europe seeking expansion funding of various forms,” notes Johan Kampe, Senior Managing Director and co-head of HEGCF. It has been a busy start with Fund II already having closed investments in 21 new companies since the first close in summer 2017. HECGF also continues to have follow on investing acti

Teledyne DALSA expands its area camera series with the industry’s first 5 Gigabit, GigE Vision models18.9.2018 14:30Pressemelding

Eight new Genie Nano cameras deliver fast, high-resolution inspection for existing GigE Vision machine vision systems WATERLOO, Ontario, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Teledyne DALSA, a Teledyne Technologies company and global leader in machine vision technology, is pleased to introduce its newest Genie Nano cameras with eight new monochrome and color models built around the industry’s best performing SONY ® image sensors. These industry-first 5-Gigabit GigE Vision cameras feature resolutions from 3.2Mpixels to 12Mpixels with more models to follow before the end of the year – including a 5Mpixel Polarized model. Engineered for imaging applications that require high-speed data transfer, these new Nano models are an easy replacement for cameras built into current vision systems that rely on the existing GigE vision interface standard. These new Genie Nano models feature the brand new 5GBASE-T link speed. IEEE 802.3bz-2016 is the expanded standard for Ethernet over twisted pair copper

Father’s personal experience drives hospitals to improve patient communication18.9.2018 14:00Pressemelding

CareCircle fills gap after CarePages closure leaves hospitals in a bind GRAND RAPIDS, Mich., Sept. 18, 2018 (GLOBE NEWSWIRE) -- After experiencing the challenges that come with communicating with friends and family from during his daughter's chemotherapy treatment for a rare disease, Nathan Loding, 34, of Grand Rapids thought there had to be a better way to keep friends and family updated on his daughter’s condition and get the support their family needed. Thanks to his livelihood as a software developer at Grand Rapids-based global business technology firm OST, he quickly turned his idea into reality. The result is CareCircle (www.carecircle.com), a secure website that allows patients to safely provide updates on their health and share private information with a select audience. The site launched Sept. 1 and has already been piloted by one of the nation’s largest health care systems. The platform is wholly-owned and operated by OST. CareCircle’s launch is very timely, as popular patie

Talend Supports La Mutuelle Générale to Power its AWS Cloud Data Lake18.9.2018 14:00Pressemelding

Health Insurance Company Accelerates the Implementation of New Services and Strengthen Business Applications REDWOOD CITY, Calif. & SURESNES, France, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Talend (NASDAQ: TLND), a global leader in cloud data integration solutions, today announced that La Mutuelle Générale, a leading provider of insurance solutions for businesses and individuals, has chosen Talend Cloud Platform to support the company in their project to build an Amazon Web Services (AWS)-based cloud data lake to serve as the foundation of all their data initiatives. With Talend, La Mutuelle Générale provides self-service data access for its data scientists to improve customer relations and offer innovative services. "As is the case in many industries, the insurance sector is in the midst of a transformation from a technical to a service industry. As part of our global business approach, we place digitalization, data and innovation at the heart of our strategy and customer satisfaction," sa

CrownBio Licenses Translational Breast Cancer Models of Resistance and Metastasis18.9.2018 14:00Pressemelding

SAN DIEGO, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, has reached an agreement with the University of Utah to license and commercialize the university’s unique collection of patient-derived xenograft (PDX) models for breast cancer. The models include multiple triple negative breast cancer models, models that display therapy resistance and models that express clinically relevant mutations such as BRCA1 and ESR1. Breast cancer is the most common cancer affecting women worldwide with the leading cause of death attributed to metastasis. While there have been significant improvements in how breast cancer is diagnosed and treated, innovative treatment approaches that prevent metastasis and overcome resistance are still needed. To develop these novel therapies, researchers need highly characterized models that re

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom