Company: CGC
Filing Date: 2025-06-06
Form Type: 424B5
Source: 0001104659-25-057337
Chunk: 6

Company: Canopy Growth Corp
Filing Date: 2025-06-06
Form: 424B5
Chunk 6
---
 Common Shares, you should consider carefully the risks and uncertainties described in this section and those described under the section entitled “Risk Factors” contained in the Annual Report and in our subsequently filed Quarterly Reports on Form 10-Q, as well as in any other filings with the SEC that are incorporated or deemed to be incorporated by reference into this prospectus supplement, in their entirety, together with other information in this prospectus supplement, the accompanying prospectus, documents incorporated by reference herein and therein and any free writing prospectus that we may authorize for use in connection with this offering. The risks described in these documents are not the only ones we face, but those that we consider to be material. There may be other unknown or unpredictable economic, business, competitive, legal, regulatory or other factors that could have material adverse effects on our future results. If any of these risks actually occurs, our business, financial condition, results of operations, cash flow or prospects could be seriously harmed. This could cause the trading price of our Common Shares to decline, resulting in a loss of all or part of your investment. Please also carefully read the section below entitled “Cautionary Note Regarding Forward-Looking Statements.”

#### Risks Related to this Offering
Sales of our Common Shares in this offering, or the perception that such sales may occur, could cause the market price of our Common Shares to fall.

We may issue and sell Common Shares for aggregate gross proceeds of up to $166,984,114 from time to time in connection with this offering, together with sales pursuant to the Concurrent Canadian Offering after the date hereof. The actual number of Common Shares that may be issued and sold in this offering and in the Concurrent Canadian Offering, as well as the timing of any such sales, will depend on a number of factors, including, among others, the prices at which any Common Shares are actually sold in this offering and in the Concurrent Canadian Offering (which may be influenced by market conditions, the trading price of our Common Shares and other factors) and our determinations as to the appropriate timing, sources and amounts of funding we need. The issuance and sale from time to time of these new Common Shares, or the fact that we are able to issue and sell such Common Shares in this offering and in the Concurrent Canadian Offering, could cause the market price of our Common Shares to decline.

The actual number of Common Shares we will issue under the Equity Distribution Agreement with the Agents, at any one time or in total, is uncertain.

Subject to certain limitations set forth in the Equity