Company: CGC
Filing Date: 2025-05-30
Form Type: POS AM
Source: 0001104659-25-054925
Chunk: 38

Company: Canopy Growth Corp
Filing Date: 2025-05-30
Form: POS AM
Chunk 38
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 compensation of the Agent will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to the Agent with respect to certain liabilities, including liabilities under the Securities Act.

Investing in our Common Shares involves risks. See “Risk Factors” on page S-5of this prospectus supplement, as well as our other filings that are incorporated by reference into this prospectus supplement and the accompanying prospectus.

Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

#### Agent

#### BMO Capital Markets Corp.

#### The date of this prospectus supplement is , 2025.
TABLE OF CONTENTS

TABLE OF CONTENTS Prospectus Supplement

| ​                                                                | ​ | ​ | Page |   |      |   | ​ |
| ABOUT THIS PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS | ​ | ​ | ​    | ​ | S-1  | ​ | ​ |
| PROSPECTUS SUPPLEMENT SUMMARY                                    | ​ | ​ | ​    | ​ | S-2  | ​ | ​ |
| THE OFFERING                                                     | ​ | ​ | ​    | ​ | S-3  | ​ | ​ |
| RISK FACTORS                                                     | ​ | ​ | ​    | ​ | S-5  | ​ | ​ |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS             | ​ | ​ | ​    | ​ | S-8  | ​ | ​ |
| USE OF PROCEEDS                                                  | ​ | ​ | ​    | ​ | S-12 | ​ | ​ |
| PLAN OF DISTRIBUTION                                             | ​ | ​ | ​    | ​ | S-15 | ​ | ​ |
| CERTAIN UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS          | ​ | ​ | ​    | ​ | S-17 | ​ | ​ |
| CERTAIN CANADIAN INCOME TAX CONSIDERATIONS                       | ​ | ​ | ​    | ​ | S-23 | ​ | ​ |
| LEGAL MATTERS                                                    | ​ | ​ | ​    | ​ | S-25 | ​ | ​ |
| EXPERTS                                                          | ​ | ​ | ​    | ​ | S-26 | ​ | ​ |
| WHERE YOU CAN FIND MORE INFORMATION                              |