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CGC

Canopy Growth Corp Announces $200M Equity Program

Canopy Growth Corporation has announced the establishment of a new at-the-market equity program (the “ATM program”) that allows the company to issue and sell up to US$200 million of common shares from treasury in the United States and Canada. The company intends to use the net proceeds from the ATM program for investments in businesses and/or to fund potential future acquisitions and for working capital and general corporate purposes, including the potential repayment of indebtedness. The sales of common shares under the ATM program will be made pursuant to the terms of an equity distribution agreement entered into among the company and the agents.

The offering of common shares under the ATM program is qualified by a prospectus supplement to the company’s Canadian short form base shelf prospectus and pursuant to a prospectus supplement to the company’s U.S. base prospectus included in its registration statement on Form S-3 initially filed with the SEC. No securities regulatory authority has either approved or disapproved of the contents of this news release.

Canopy Growth is a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives. The company delivers innovative products from owned and licensed brands including Tweed, 7Acres, Doja, Deep Space, and Claybourne. Canopy Growth also serves medical cannabis patients globally with principal operations in Canada, Europe, and Australia. The company has established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through an unconsolidated, non-controlling interest in Canopy USA, LLC, which includes ownership of Acreage Holdings, Inc., a vertically integrated multi-state cannabis operator with operations throughout the U.S. northeast and midwest, as well as ownership of Wana Wellness, LLC, the Cima Group, LLC, and Mountain High Products, LLC, among others.

The new ATM program replaces the equity distribution agreement dated February 28, 2025, as amended, among the company and the agents, which terminated upon the company’s entry into the new distribution agreement. The ATM program will be effective until the earliest of certain conditions and dates, subject to the terms of the distribution agreement.

The market has reacted to these announcements by moving the company's shares -4.25% to a price of $1.80. If you want to know more, read the company's complete 8-K report here.

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