Canopy Growth

Canaccord Genuity Acts as Exclusive Financial Advisor to Canopy Growth on its US$162 Million Recapitalization and C$96 Million Convertible Debenture Exchange

Canaccord Genuity is pleased to announce that on January 8, 2026, Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) (the “Company” or “Canopy Growth”) entered into a series of transactions to recapitalize its entire balance sheet and extend maturity dates of all outstanding indebtedness until January 2031 at the earliest.

Canopy Growth recapitalized its balance sheet with a new US$162 million term loan bearing interest at an annual rate equal to SOFR plus 6.25%. The Company will receive US$150 million in net proceeds which will be used to repay the existing senior secured debt of US$101 million, for working capital and general corporate purposes, and to fund future acquisitions. Concurrently, the Company announced that it entered into an exchange agreement with an institutional investor pursuant to which Canopy Growth will exchange C$96.4 million of existing unsecured convertible debentures due May 2029 for C$80 million in consideration comprised of C$55 million of new convertible debentures due July 2031, C$10.5 million in cash, 9,493,670 common shares of the Company, and 12,731,481 common share purchase warrants of the Company.

At the conclusion of these transactions, Canopy Growth is expected to have cash on hand of approximately C$425 million, providing additional flexibility to support the Company’s long-term priorities.

Canopy Growth is a world-leading North American cannabis and consumer packaged goods (CPG) company headquartered in Smiths Falls, Ontario. The Company creates curated cannabis varieties and medical products for adult-use and therapeutic markets across Canada, Europe, and the ANZ. Its operational footprint is anchored by robust production and distribution networks in Canada and Germany. Notable owned and operated brands within its portfolio include Storz & Bickel, Wana, Claybourne Co., among others. Canopy Growth through its non-controlling interest in Canopy USA has also established a comprehensive ecosystem in the U.S. market.