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Highlights
Canopy Growth has launched an at-the-market equity program enabling the issuance and sale of up to US$200 million in common shares.
Sales in Canada under the program are capped at US$50 million, with the balance available through the U.S. market.
Proceeds will be used for business investments, potential acquisitions, working capital, general corporate purposes, and possible debt repayment.
Canopy Growth Corporation (TSX:WEED) (Nasdaq:CGC), a global cannabis company, has announced the establishment of a new at-the-market equity program (ATM Program) that permits the Company to issue and sell up to US$200 million of its common shares. The program will operate through concurrent offerings in both the United States and Canada.
Program Details
Under the terms of the ATM Program, Canopy Growth may issue and sell common shares directly from treasury through the Nasdaq, the Toronto Stock Exchange (TSX), or other eligible U.S. or Canadian trading markets. The total combined gross sales proceeds of the program will not exceed US$200 million.
Sales conducted under the Canadian portion of the ATM Program are limited to gross proceeds of up to US$50 million, or the Canadian dollar equivalent. The timing, volume, and pricing of share sales will be determined at the Company’s discretion and subject to customary conditions. Shares will be distributed at prevailing market prices at the time of each sale, meaning purchase prices may differ between investors and over the distribution period.
Intended Use of Proceeds
The Company has indicated that proceeds from the ATM Program, if raised, will be directed toward multiple priorities. These include investments in businesses, potential future acquisitions, general corporate purposes, and working capital.
About Canopy Growth
Canopy Growth is a cannabis company engaged in delivering consumer and medical products across Canada, Europe, and Australia. Its portfolio includes brands such as Tweed, 7ACRES, DOJA, Deep Space, and Claybourne, along with vaporization devices produced by Storz & Bickel. The Company also serves medical cannabis patients globally, reinforcing its position across multiple markets.
In the United States, Canopy Growth has built a comprehensive ecosystem through its non-controlling interest in Canopy USA, LLC. This platform holds ownership in Acreage Holdings, Inc., a vertically integrated multi-state operator; Wana Wellness, LLC, The Cima Group, LLC, and Mountain High Products, LLC, recognized for their edibles brand; and Lemurian Inc., a California-based cannabis extract and vape technology producer.
