Company: CGC
Filing Date: 2025-05-30
Form Type: POS AM
Source: 0001104659-25-054925
Chunk: 3

Company: Canopy Growth Corp
Filing Date: 2025-05-30
Form: POS AM
Chunk 3
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 Base Prospectus will be specified in a prospectus supplement to the Base Prospectus.

The specific terms of the securities to be issued and sold under the Equity Distribution Agreement are specified in the Equity Distribution Agreement Prospectus Supplement, which immediately follows the Base Prospectus. The $172,069,635 of the Company’s common shares available for issuance as of May 30, 2025 that may be offered, issued, and sold under the Equity Distribution Agreement Prospectus Supplement is included in the $500,000,000 of securities that may be offered, issued, and sold by the Company under the Base Prospectus. Upon termination of the Equity Distribution Agreement, any portion of the $172,069,635 included in the Equity Distribution Agreement Prospectus Supplement that is not sold pursuant to the Equity Distribution Agreement will be available for sale in other offerings pursuant to the Base Prospectus and a corresponding prospectus supplement.

TABLE OF CONTENTS

**The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the U.S. Securities and Exchange Commission declares our registration statement effective. This preliminary prospectus is not an offer to sell these securities and we are not soliciting offers to buy these securities in any state or jurisdiction where the offer or sale is not permitted.**

#### SUBJECT TO COMPLETION, DATED MAY 30, 2025

#### Prospectus
<div align='center'>**$500,000,000**</div>

#### Common Shares

#### Exchangeable Shares

#### Debt Securities

#### Subscription Receipts

#### Units

#### Warrants
We may from time to time offer and sell up to $500,000,000 in the aggregate of our common shares (“Common Shares”), non-voting and non-participating exchangeable shares (the “Exchangeable Shares”), debt securities (“Debt Securities”), subscription receipts (“Subscription Receipts”), units (“Units”), and warrants (“Warrants”) (collectively, the “Securities”). The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in one or more prospectus supplements. The Securities may be offered and sold in the United States and elsewhere where permitted by law. We will provide the specific terms of the Securities in supplements to this prospectus that will be delivered to purchasers together with this prospectus. You should read this prospectus and any prospectus supplement carefully before you invest in the Securities.

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