SMITHS FALLS, ON, Jan. 9, 2024 /PRNewswire/ – Canopy Growth Corporation (“Canopy Growth” or the “Company“) (TSX: WEED) (Nasdaq: CGC), today announced that it has entered into subscription agreements (the “Subscription Agreements“), dated as of January 9, 2024, with certain institutional investors (the “Investors“) in a private placement offering (the “Offering“) of 6,993,007 units (“Units“) at a price per Unit of US$4.29 for aggregate gross proceeds of approximately US$30,000,000.
The purpose of the Offering is to provide the Company with additional liquidity of US$30MM to further strengthen Canopy Growth’s financial position. Proceeds are expected to be used to pay down debt, which is consistent with the Company’s strategy for overall debt reduction, as well as for working capital and other general corporate purposes.
Each Unit will be comprised of (a) one common share of the Company (a “Common Share“) and (b)(i) one Series A Common…
