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/PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC), a world-leading cannabis company dedicated to unleashing...
Canopy Growth Corporation has entered into an exchange and subscription agreement with a single institutional investor under which the Smiths Falls, Ontario-based company is expected to receive gross proceeds of roughly $50 million and exchange approximately CA$27.5 million ($20 million) of existing debt maturing in September 2025 for a new senior unsecured convertible debenture of the company maturing five years following the day of issuance. Under the terms of the deal, the investor will acquire a convertible debenture in an aggregate principal amount equal to CA$96,358,375 on closing.
The Justice Department's recommendation to move marijuana to a Schedule 3 drug could mean lower income tax bills for dispensaries.
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Is Canopy Growth closer to entering the U.S. cannabis market?