Canopy Growth and Constellation finalize previously announced strategic transaction
SMITHS FALLS, ON, Nov. 2, 2017 /CNW/ – Canopy Growth Corporation (TSX:WEED) (“Canopy Growth” or the “Company”) has completed the previously announced transaction that saw Constellation Brands (“Constellation”) (NYSE: STZ and STZ.B) strategically invest CDN $245 million in Canopy Growth in exchange for 9.9% equity in the Company following completion of the investment. As a result, the Company has today issued 18,876,901 common shares in the Company to an affiliate of Constellation in exchange for CDN $244,990,084.25.
In addition, the Company also issued 18,876,901 warrants to the Constellation affiliate as part of this investment.
Management looks forward to a long and productive collaborative relationship with Constellation.
Here’s to Future Growth.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Through its wholly‑owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over half a million square feet of GMP-certified indoor and greenhouse production capacity, all to an unparalleled level of quality assurance procedures and testing. Canopy Growth has established partnerships with leading sector names in Canada and abroad, with interests and operations spanning four continents. The Company is proudly dedicated to educating healthcare practitioners, providing consistent access to high quality cannabis products, conducting robust clinical research, and furthering the public’s understanding of cannabis. For more information visit www.canopygrowth.com.