C$27.5 Millon of Debt Extended from 2025 to 2029 Providing Additional Balance Sheet Flexibility

SMITHS FALLS, ON, May 3, 2024 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (Nasdaq: CGC), today announced that on May 2, 2024, it entered into an exchange and subscription agreement (the "Agreement") with a single institutional investor (the "Investor") pursuant to which Canopy Growth is expected to receive gross proceeds of approximately US$50 million and exchange approximately C$27.5 million of existing debt maturing in September 2025 for a new senior unsecured convertible debenture of the Company (the "ConvertibleDebenture") maturing five years from the date of issuance thereof (such issuance date being, the "Closing Date").