Canopy Growth Corporation announced a new at-the-market equity program allowing them to issue and sell up to US$200 million of common shares.
The program includes offerings in the United States and Canada with specific limits for each market.
Proceeds from the program will be used for investments, potential acquisitions, working capital, and general corporate purposes.
Purpose of Program
To strengthen Canopy Growth's financial position through the issuance of common shares.
Allocation of Proceeds
Investments in businesses, potential acquisitions, and general corporate purposes, including debt repayment.
Program Agents
BMO Nesbitt Burns Inc. as Canadian agent, BMO Capital Markets Corp. as U.S. agent.
- The program provides flexibility for Canopy Growth to access capital as needed through public offerings.
- It reflects the company's strategic focus on financial strength and growth opportunities in the cannabis industry.
The establishment of the US$200 million at-the-market program is a strategic move by Canopy Growth to enhance its financial flexibility and support future growth initiatives.