Company: CGC
Filing Date: 2025-06-06
Form Type: 424B5
Source: 0001104659-25-057337
Chunk: 2

Company: Canopy Growth Corp
Filing Date: 2025-06-06
Form: 424B5
Chunk 2
---
 | ​ | ​    | ​ | 15 | ​ | ​ |
| CERTAIN INCOME TAX CONSIDERATIONS                    | ​ | ​ | ​    | ​ | 22 | ​ | ​ |
| PLAN OF DISTRIBUTION                                 | ​ | ​ | ​    | ​ | 23 | ​ | ​ |
| LEGAL MATTERS                                        | ​ | ​ | ​    | ​ | 26 | ​ | ​ |
| EXPERTS                                              | ​ | ​ | ​    | ​ | 26 | ​ | ​ |
| ENFORCEABILITY OF CIVIL LIABILITIES                  | ​ | ​ | ​    | ​ | 26 | ​ | ​ |

S-i

TABLE OF CONTENTS

### ABOUT THIS PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS
This prospectus supplement and the accompanying prospectus are part of a “shelf” registration statement on Form S-3 (File No. 333-279949) that we filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 5, 2024 and amended on May 29, 2025 and May 30, 2025 (as amended, the “Registration Statement”). The Registration Statement registers the offer and sale of all of the Common Shares that may be sold pursuant to the Equity Distribution Agreement.

This document is in two parts. The first part is this prospectus supplement, which describes the specific terms of this offering. The second part, the accompanying prospectus, gives more general information, some of which may not apply to this offering. We urge you to read carefully this prospectus supplement and the accompanying prospectus, together with the information incorporated therein and herein by reference as described under the heading “Incorporation of Certain Information by Reference,” before buying any of the securities being offered. This prospectus supplement may add, update or change information contained in or incorporated by reference in the accompanying prospectus. If the information in this prospectus supplement is inconsistent with any information contained in or incorporated by reference in the accompanying prospectus, the information in this prospectus supplement will apply and will supersede the inconsistent information contained in or incorporated by reference in the accompanying prospectus.

You should rely only on the information contained in, or incorporated by reference into, this prospectus supplement, the accompanying prospectus and any free writing prospectus prepared by or on our behalf that we have authorized for use in connection with this offering. We have not, and the Agent has not