Canopy Growth establishes $250M at-the-market equity offering program

Canopy Growth announced that the company has established an at-the-market equity program that allows Canopy Growth to issue and sell up to $250M of common shares of the company from treasury from time to time in concurrent public offerings in the United States and Canada. Canopy Growth intends to use the net proceeds from the ATM Program, if any, for investments in businesses and/or to fund any potential future acquisitions and for working capital and general corporate purposes, which may include the repayment of indebtedness, which has been significantly reduced over the prior 18 months. Sales of Common Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement dated June 6, 2024 entered into among the company, BMO Nesbitt Burns, as Canadian agent, and BMO Capital Markets, as U.S. agent.