/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
SMITHS FALLS, ON, June 22, 2018 /CNW/ - Canopy Growth Corporation
(TSX: WEED) (NYSE:CGC) ("Canopy Growth" or the "Company") announced
today the issuance of C$100 million
aggregate principal amount of its 4.25% convertible senior notes
due 2023 (the "Over-Allotment Notes") pursuant to the exercise in
full of the over-allotment option granted to the initial purchasers
in connection with the previously announced offering of
C$500 million aggregate principal
amount of its 4.25% convertible senior notes due 2023 (the "Initial
Notes"), 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 ("common shares") per C$1,000 principal amount of Over-Allotment Notes,
equivalent to an initial conversion price of approximately
C$48.18 per common share.
The Company 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.
Cowen and Company, LLC and BMO Nesbitt Burns Inc. acted as joint
bookrunning managers and Eight Capital and Bryan, Garnier & Co.
acted as co-managers for this offering. Greenstar Canada Investment
Limited Partnership, an affiliate of Constellation Brands, Inc.,
purchased C$200 million in Initial
Notes in the offering and the remainder of the offering was widely
allocated to institutions, primarily in the United States, Europe, as well as Canada.
This news release is neither an offer to sell nor a solicitation
of an offer to buy any of these securities (including any common
shares of Canopy Growth into which the Initial Notes or
Over-Allotment Notes are convertible) and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis and hemp company, offering
distinct brands and curated cannabis varieties in dried, oil and
Softgel capsule forms. From product and process innovation to
market execution, Canopy Growth is driven by a passion for
leadership and a commitment to building a world-class cannabis
company one product, site and country at a time.
Canopy Growth has established partnerships with leading sector
names including cannabis icon Snoop Dogg, breeding legends DNA
Genetics and Green House seeds, and Fortune 500 alcohol leader
Constellation Brands, to name but a few. Canopy Growth operates ten
cannabis production sites with over 2.4 million square feet of
production capacity, including over 500,000 square feet of
GMP-certified production space. The Company has operations in eight
countries across five continents. The Company is proudly dedicated
to educating healthcare practitioners, conducting robust clinical
research, and furthering the public's understanding of cannabis,
and through its partly owned subsidiary, Canopy Health Innovations,
has devoted millions of dollars toward cutting edge,
commercializable research and IP development. Through partly owned
subsidiary Canopy Rivers Corporation, the Company is providing
resources and investment to new market entrants and building a
portfolio of stable investments in the sector. From our historic
public listing to our continued international expansion, pride in
advancing shareholder value through leadership is engrained in all
we do at Canopy Growth. For more information
visit www.canopygrowth.com
Notice Regarding Forward Looking Statements
This news
release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and "forward-looking information" within the meaning of applicable
Canadian securities legislation. Often, but not always,
forward-looking statements and information 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 or information involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Canopy Growth or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements or information contained in this news
release.
Examples of such statements include statements with respect to the
planned used of proceeds from the notes offering. Risks,
uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information, including
the anticipated use of the proceeds of the offering, which could
change as a result of market conditions or for other reasons, the
impact of general economic, industry or political conditions in
Canada, the United States or internationally as well
as such risks contained in the Company's annual information form
dated June 28, 2017 and filed with
Canadian securities regulators available on the Company's issuer
profile on SEDAR at www.sedar.com. Although the Company believes
that the assumptions and factors used in preparing the
forward-looking information or forward-looking statements in this
news release are reasonable, undue reliance should not be placed on
such information and no assurance can be given that such events
will occur in the disclosed time frames or at all. The
forward-looking information and forward-looking statements included
in this news release are made as of the date of this news release
and the Company does not undertake an obligation to publicly update
such forward-looking information or forward-looking information to
reflect new information, subsequent events or otherwise unless
required by applicable securities laws.
SOURCE Canopy Growth Corporation