Canopy Growth announces private placement of up to $50M

Canopy Growth “announced that it has entered into subscription agreements, dated September 18, 2023, with certain institutional investors in a private placement offering of 22,929,468 units at a price per Unit of $1.09 for aggregate gross proceeds of approximately $25,000,000. The Investors also hold an over-allotment option to acquire up to an additional 22,929,468 Units at a price per Unit of US$1.09 for aggregate gross proceeds of $25,000,000 at the discretion of the Investors at any time on or before November 2, 2023. Each Unit will be comprised of one common share of the Company and one Common Share purchase warrant. Each Warrant will entitle the holder to acquire one Common Share from the Company at a price equal to $1.35 for a period of five years from the date of issuance. The Company has also agreed to provide the Investors with customary registration rights.”