Cannabis Watch: This investor says Canopy’s proposed U.S. deal is a boon for the U.S. cannabis sector

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Canopy Growth Corp.’s plan to acquire U.S. multistate operator Acreage Holdings Inc. as soon as cannabis is legalized in the U.S. has won the support of a U.S. private-equity firm that specializes in investments in the cannabis sector.

Matt Hawkins, managing partner of Cresco Capital Partners LLC, said Thursday that the $3.4 billion proposed deal is the “most significant” as well as the biggest deal in the sector so far, and brings a much needed infusion of capital to an industry that is starved of cash.

“As one of one of the best capitalized companies in the industry, Canopy Growth CGC, -0.31% WEED, -0.53% has introduced a creative structure to potentially gain a foothold in the United States, the most lucrative global cannabis market,” Hawkins wrote in a letter to his own investors. “From an Acreage perspective, it

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