Canopy Growth (NASDAQ: CGC) has finally done it. After five years, it has found a way to close on its pending acquisition of Acreage Holdings, one of the top multi-state operators (MSOs) in the U.S. cannabis market. But a big caveat comes with the announcement -- it won't actually be able to consolidate Acreage's results due to the federal ban on pot.

So what does this really mean for Canopy Growth investors? Here's a look at the key takeaways for investors, and what actually matters as a result of these developments.

Canopy Growth created Canopy USA, a special purpose vehicle, with the aim of holding its U.S.-based assets, because its core business can't do so -- not without jeopardizing its position on the exchange. It's a complex setup that means the entities are technically separate and Canopy Growth has a non-controlling interest in the business. If and when federal legalization takes place, the two entities will likely merge, but until that happens, their businesses will be separate.

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Source Fool.com