BRIEF: Canopy Announces Exercise and Closing of Over-Allotment Option

Toronto, ON — June 22, 2018 — /D.M.O. Newswire/ — Canopy Growth Corp. (TSX:WEED) (NYSE:CGC) (FRA:11L1) announced the issuance of $100 million CAD aggregate principal amount of its 4.25% convertible senior notes due 2023 as part of the over-allotment option granted to the initial purchasers.

Here’s What You Need to Know

• The over-allotment options were granted to the initial purchasers of the previously announced offering of $500 million CAD aggregate principal amount of its 4.25% convertible senior notes due 2023, which closed on June 20, 2018.
• The over-allotment notes have the same terms as the Initial Notes, including an initial conversion rate of 20.7577 common shares per $1,000 CAD principal amount of over-allotment notes, equivalent to an initial conversion price of approximately $48.18 CAD per common share.
• Canopy intends to use the net proceeds from the sale of the initial notes and the over-allotment notes for supporting expansion initiatives and general corporate purposes, including working capital requirements.