, /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (Nasdaq: ), a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives, announced today that the Company has established an at-the-market equity program (the "ATM Program") that allows Canopy Growth to issue and sell up to (or its Canadian dollar equivalent) of common shares of the Company ("Common Shares") from treasury from time to time in concurrent public offerings in and . Any Common Shares sold in the ATM Program will be sold in transactions made directly on the Nasdaq or the TSX or on any other available U.S.
or Canadian trading market for the Common Shares. The volume and timing of sales under the ATM Program, if any, will be determined in the Company's sole discretion and are subject to customary conditions precedent. The Common Shares will be distributed at market prices prevailing at the time of each sale or at certain other prices and, as a result, prices may vary as between purchasers and during the period of distribution under the ATM Program.
Canopy Growth intends to use the net proceeds from the ATM Program, if any, for investments in businesses and/or to fund any potential future acquisitions and for working capital and general corporate purposes, which may include the repayment of indebtedness, which has been significantly reduced over the prior 18 months. Sales of Common Shares under the ATM Program will be made pursuant to the term.
