SMITHS FALLS, ON, June 22, 2018 /PRNewswire/ - 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.
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.
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.
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SOURCE Canopy Growth Corporation