Company: CGC
Filing Date: 2025-07-29
Form Type: 8-K
Source: 0001104659-25-071781
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Company: Canopy Growth Corp
Filing Date: 2025-07-29
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On July 29, 2025, Canopy Growth Corporation (the
“ Company”) entered into an agreement (the “ Lender Agreement”) with certain of the lenders (the
“ Lenders”) to its senior secured term loan facility (the “ Term Loan”) under its term loan credit agreement
dated March 18, 2021, as amended on October 24, 2022, July 13, 2023 and August 8, 2024, among the Company and
11065220 Canada Inc., as borrowers, the lenders party thereto and Wilmington Trust, National Association, as administrative and
collateral agent. Pursuant to the terms of the Lender Agreement, the Company has agreed to make the following three prepayments
under the Term Loan that are expected to reduce the Term Loan by US$50.0 million by March 31, 2026: (i) US$25.0 million at
par on or about July 31, 2025; (ii) US$10.0 million at par on or prior to December 31, 2025; and (iii) US$15.0
million at par on or prior to March 31, 2026 (collectively, the “ Prepayments”). The Lender Agreement was entered
into in order to facilitate the Acreage Financing (as defined below).

In connection with the Lender Agreement, Canopy USA, LLC obtained consent
from the Company (the “ Acreage Financing Consent”) in order to secure an additional US$22 million in funding for Acreage Holdings, Inc.
and its subsidiaries (the “ Acreage Financing”). The Acreage Financing Consent required the consent of the Lenders.

The foregoing description of the Lender Agreement does not purport
to be complete and is qualified in its entirety by reference to the full text of the Lender Agreement, which is filed as Exhibit 10.1
to this Current Report on Form 8-K (this “ Report”).