Company: CGC
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085662
Chunk: 25

Company: Canopy Growth Corp
Filing Date: 2025-08-29
Form: 424B5
Chunk 25
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 date on which the Registration Statement ceases to be useable for sales of Shelf Securities (as defined in the Equity Distribution Agreement) pursuant to General Instruction I.B.1 of Form S-3; and (D) the date on which notice from the SEC that the Registration Statement has ceased to be effective in accordance with Securities Act has been received by the Company, in each case, subject to the terms of the Equity Distribution Agreement. Notwithstanding the foregoing, the Concurrent Canadian Offering will automatically terminate and no issuance or sales of Common Shares may occur thereunder on the earliest to occur of (1) July 5, 2026, (2) the date on which the issuance and sale of Common Shares through the Canadian Agent in the Concurrent Canadian Offering equals US$50,000,000 (or the equivalent in Canadian currency), (3) the date on which notice from the Ontario Securities Commission that the Canadian (final) short form base shelf prospectus of the Company (in the English language) has ceased to be effective in

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accordance with the applicable Canadian securities laws has been received by the Company, or (4) the termination of the Equity Distribution Agreement, as contemplated by subsection (i), (ii) or (iii) in the preceding sentence; provided, however, that a termination of the Concurrent Canadian Offering as contemplated by subsection (1), (2) and (3) will in no case affect this offering, and the Equity Distribution Agreement will continue to remain in full force and effect with respect to this offering.

The TSX has conditionally approved the listing of the Common Shares issuable pursuant to the Concurrent Canadian Offering, subject to the Company fulfilling all of the listing requirements of the TSX. In addition, we have notified Nasdaq of this offering in accordance with the rules of that exchange.

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### CERTAIN UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS
The following is a general summary of certain material U.S. federal income tax considerations applicable to a U.S. Holder (as defined below) as a result of the acquisition, ownership, and disposition of Common Shares acquired pursuant to this prospectus supplement.

This summary is for general information purposes only and does not purport to be a complete analysis or listing of all potential U.S. federal income tax considerations that may apply to a U.S. Holder as a result of the acquisition, ownership,