Canopy Growth shares higher after saying subscription pact terminated

Shares of North American cannabis and consumer packaged goods Canopy Growth jumped as high as 20% on Tuesday morning after the company terminated the Subscription Agreements on January 12 . As a result of such termination, no securities will be sold pursuant to the Private Placement. The Company expects to be in position to complete customary closing requirements in the next few weeks, and the Company continues to have sufficient liquidity, including through its cash on hand, debt facilities, and other expected sources of financing. The Company expects to report its fiscal third quarter financial results on February 9. Shares are currently trading up 7% or approximately 33c per share at $4.85.