/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
SMITHS FALLS, ON, July 21, 2017 /CNW/ - Canopy Growth
Corporation (TSX: WEED) ("Canopy Growth" or the "Company") is
pleased to announce that it has accepted a subscription agreement
for a private placement (the "Offering") of common shares (the
"Shares") with a single investor. Pursuant to the Offering, the
Company will issue 3,105,590 Shares at a net price of $8.05 per Share, for aggregate gross and net
proceeds of $24,999,999.50. The
private placement will be completed on or before July 26, 2017.
"Investing in production capacity expansion is vital to maintain
our existing leadership position in the global cannabis industry,"
said Bruce Linton, Chairman and CEO.
"This equity financing gives us additional resources so we can
accelerate into the windows of opportunity that exist domestically
and abroad, while inserting advisory expertise as we continue to
lead a sector forward into new territory."
The Company intends to use the proceeds of the Offering for
capacity growth initiatives. No finder's fees were paid by the
Company as part of the Offering.
The securities mentioned herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "Securities Act"), or applicable state securities
laws, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws. The securities
mentioned herein have not been and will not be qualified for sale
to the public under applicable Canadian securities laws and,
accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt
from the prospectus requirements of such securities laws. The
securities mentioned herein will be offered and sold only to
non-U.S. persons in reliance on the "accredited investor"
prospectus exemption in Canada.
The Shares are restricted from trading for a period of four
months from the issue date, and certain black-out restrictions from
trading will be applied to the investor.
This press release does not constitute an offer to sell or
purchase, or a solicitation of an offer to sell or purchase, any
securities. No offer, solicitation, purchase or sale of securities
will be made in any jurisdiction, in which such an offer,
solicitation, purchase or sale would be unlawful. The private
placement remains subject to final acceptance by The Toronto Stock
Exchange.
Here's to (funding for) Future Growth.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company,
offering diverse brands and curated cannabis strain varieties in
dried and oil extract forms. Through its wholly-owned
subsidiaries, Canopy Growth operates numerous state-of-the-art
production facilities with over half a million square feet of
indoor and greenhouse production capacity. Canopy Growth has
established partnerships with leading sector names
in Canada and abroad. For more information
visit www.canopygrowth.com.
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but
not always, forward-looking statements can be identified by the use
of words such as "plans", "expects" or "does not expect", "is
expected", "estimates", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Canopy Growth Corporation, Tweed
Inc., Tweed Farms Inc., Mettrum Health Corp., or Bedrocan Canada
Inc. to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Examples of such statements include
future operational and production capacity, the impact of enhanced
infrastructure and production capabilities, and forecasted
available product selection. The forward-looking statements
included in this news release are made as of the date of this news
release and Canopy Growth Corp. does not undertake an obligation to
publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise unless required by
applicable securities legislation.
Neither the TSX Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation