Canopy Growth Corporation announced it has entered into subscription agreements of 8,158,510 units at issue price $4.29 per unit for gross proceeds of $35,000,007.9 on January 18, 2024. Each Unit will be comprised of one common share of the Company and one Series A Common Share purchase warrant or one Series B Common Share purchase warrant. Each Warrant will entitle the holder to acquire one Common Share from the Company at a price equal to $4.83.

The Series A Warrants will be exercisable immediately following the closing of the Offering for a period of five years from such date and the Series B Warrants will be exercisable for a period commencing on the date that is six-months following the closing of the Offering and ending on the date that is five years following such date. The Company has also agreed to provide the Investors with customary registration rights. The closing of the private placement pursuant to the Subscription Agreements is expected to occur on or about January 19, 2024, subject to Toronto Stock Exchange approval and customary closing conditions