Canopy Growth Secures New Financing Deal

Canopy Growth (TSE:WEED) has released an update.

Canopy Growth Corporation has bolstered its financial position through a new financing agreement expected to yield US$50 million in gross proceeds and extend C$27.5 million of existing debt, improving its balance sheet flexibility. The deal includes issuing a new Convertible Debenture and additional common share purchase warrants, with the Convertible Debenture carrying a 7.50% interest rate and being convertible at the investor’s option. Funds from this offering are designated for working capital and general corporate purposes, with a closing expected in early May 2024.

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