Company: CGC
Filing Date: 2025-06-06
Form Type: 424B7
Source: 0001104659-25-057341
Chunk: 3

Company: Canopy Growth Corp
Filing Date: 2025-06-06
Form: 424B7
Chunk 3
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 resale of Shares sold by the Selling Securityholders.

You should read this prospectus carefully before you invest in our Common Shares.

Investing in our Common Shares involves a high degree of risk. See “Risk Factors” beginning on page 3of this prospectus.

Our Common Shares are listed and posted for trading on the Toronto Stock Exchange (the “TSX”) under the symbol “WEED” and on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “CGC”. On June 4, 2025, the closing price of our Common Shares on Nasdaq was US$1.30 per share.

Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

#### The date of this prospectus is June 4, 2025
TABLE OF CONTENTS

TABLE OF CONTENTS Prospectus

| ​                                                    | ​ | ​ | Page |   |    |   | ​ |
| About this Prospectus                                | ​ | ​ | ​    | ​ |  1 | ​ | ​ |
| Cautionary Note Regarding Forward Looking Statements | ​ | ​ | ​    | ​ |  2 | ​ | ​ |
| Risk Factors                                         | ​ | ​ | ​    | ​ |  3 | ​ | ​ |
| The Company                                          | ​ | ​ | ​    | ​ |  4 | ​ | ​ |
| Use of Proceeds                                      | ​ | ​ | ​    | ​ |  5 | ​ | ​ |
| Selling Securityholders                              | ​ | ​ | ​    | ​ |  6 | ​ | ​ |
| Plan of Distribution                                 | ​ | ​ | ​    | ​ | 11 | ​ | ​ |
| Legal Matters                                        | ​ | ​ | ​    | ​ | 13 | ​ | ​ |
| Experts                                              | ​ | ​ | ​    | ​ | 14 | ​ | ​ |
| Incorporation of Certain Documents by Reference      | ​ | ​ | ​    | ​ | 15 | ​ | ​ |
| Enforceability of Civil Liabilities                  | ​ | ​ | ​    | ​ | 16 | ​ | ​ |

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TABLE OF CONTENTS

### ABOUT THIS PROSPECTUS
On June 5, 2024, we filed with the U.S. Securities and Exchange Commission (the