Canopy Growth Corporation entered into Subscription Agreements with certain institutional investors in a private placement offering to issue 6,993,007 units at a price of $4.29 per share for the gross proceeds of $30,000,000 on January 9, 2024. Each unit will be comprised of (a) 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 transaction is expected to occur on or about January 10, 2024, subject to customary closing conditions.