Company: CGC
Filing Date: 2025-05-30
Form Type: POS AM
Source: 0001104659-25-054925
Chunk: 44

Company: Canopy Growth Corp
Filing Date: 2025-05-30
Form: POS AM
Chunk 44
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 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 $172,069,635 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 Distribution Agreement and compliance with applicable law, we have the discretion to deliver placement notices to the Agents at any time throughout the term of the Equity Distribution Agreement. The number of Common Shares that are sold by the Agents, as applicable, after delivering a placement notice will fluctuate based on the market price of the Common Shares during the sales period and any limits that we set with the applicable Agent in the applicable placement notice.

You may experience dilution as a result of this offering and the Concurrent Canadian Offering, which may adversely affect the per share trading price of our Common Shares.

The Common Shares sold in this offering and the Concurrent Canadian Offering, if any, will be sold from time to time at various prices, and investors in this offering may accordingly experience dilution. The actual amount of dilution from this offering will be based on numerous factors, including the number of Common Shares issued in the Concurrent Canadian Offering and in other potentially dilutive transactions, including, but not limited to