April 18, 2019 / 10:07 AM / 6 months ago

BUZZ-Canopy Growth: Rises on reports of potential deal with Acreage

** U.S.-listed shares of Canadian marijuana producer Canopy Growth up 5% at $45 premarket

** CGC to buy U.S.-based pot firm Acreage Holdings , a source familiar with the matter told Reuters

** The deal is expected to fetch Acreage a premium of ~28% to its 5-day average trading price

** Based on the purchase agreement, Canopy could lend Acreage parts of its branding and intellectual property in order to penetrate the U.S. market, while in turn helping Acreage grow, the source said

** Stock is up ~60 pct YTD (Reporting By Arundhati Sarkar in Bengaluru)

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