Company: CGC
Filing Date: 2025-05-29
Form Type: POSASR
Source: 0001104659-25-054285
Chunk: 74

Company: Canopy Growth Corp
Filing Date: 2025-05-29
Form: POSASR
Chunk 74
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 or superseded.

If requested orally or in writing, we will provide to each person, including any beneficial owner, to whom this prospectus supplement is delivered, at no cost, a copy of any or all of the information that has been incorporated by reference in this prospectus supplement but not delivered with this prospectus supplement. Exhibits to the filings will not be sent, however, unless those exhibits have specifically been incorporated by reference into such documents. To obtain a copy of these filings at no cost, you may write to us at the following address:

<div align='center'>Canopy Growth Corporation 
 1 Hershey Drive 
 Smiths Falls, Ontario, Canada K7A 0A8 
 Attention: Chief Legal Officer

S-26</div>

TABLE OF CONTENTS

#### Up to $172,069,635

#### Common Shares

### PROSPECTUS SUPPLEMENT

#### Agent

#### BMO Capital Markets Corp.

#### May 29, 2025
TABLE OF CONTENTS

### PROSPECTUS

#### 21,856,810 Common Shares
**This prospectus relates to the offer and sale from time to time of up to 21,856,810 of our common shares (the “Shares”) by the selling securityholders listed in the section of this prospectus entitled “Selling Securityholders” (the “Selling Securityholders”), which is comprised of:

1.

349,787 Shares (the “Jetty and TRA Shares”) issued (a) on May 17, 2022 and May 25, 2022 pursuant to an Option Agreement, dated as of May 17, 2022, by and among us, Canopy Oak LLC (“Canopy Oak”), Lemurian, Inc., a California corporation (“Jetty”), and the other parties thereto (the “Primary Option Agreement”); (b) on May 17, 2022 pursuant to an Option Agreement, dated as of May 17, 2022, by and among Canopy Oak and the other parties thereto (the “Secondary Option Agreement”); and (c) on November 4, 2022 and March 17, 2023 pursuant to the Third Amendment to Tax Receivable Agreement (the “TRA Amendment”), dated as of October 24, 2022, by and among us, Canopy USA, LLC, a Delaware limited liability company (“Canopy USA”), Acreage Holdings America, Inc., a Nevada Corporation, High Street Capital Partners