Company: CGC
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001104659-25-075215
Chunk: 116

Company: Canopy Growth Corp
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 116
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opy Growth entered into a consent agreement (the “ Consent Agreement ”). In connection with these agreements, on June 27, 2019 Canopy Growth also amended the terms of the Original Tranche A Warrants and the Original Tranche B Warrants as follows: (a) extended the term of the Original Tranche A Warrants to November 1, 2023 (the “ Tranche A Warrants ”) and, (b) replaced the Original Tranche B Warrants with two tranches of warrants (the “ Tranche B Warrants ” and the “ Tranche C Warrants ”) each of which were to vest and become exercisable once all Original Tranche A Warrants had been exercised and were exercisable until November 1, 2026, with different terms: the Tranche B Warrants were exercisable to acquire 3,845,444 million Shares at a price of C$766.80 (or approximately US$585.50) per Share and the Tranche C Warrants were exercisable to acquire 1,281,815 Shares at a price equal to the 5-day volume-weighted average price of the Shares immediately prior to exercise. On May 1, 2020, the Greenstar Warrants were exercised for aggregate gross proceeds of approximately C$245 million (or approximately US$174 million, based on the foreign exchange rate as of the date of the transaction). On June 29, 2022, Greenstar entered into an exchange agreement with the Company, pursuant to which Greenstar agreed to exchange C$100 million principal amount of the Canopy Notes for 2,924,546 Shares. The exchange was part of an exchange by the Company of an aggregate of approximately C$260 million principal amount of Canopy Notes held by Greenstar and certain other holders into Shares. On October 24, 2022, CBG, Greenstar and the Company entered into the consent agreement (the “ Third Consent Agreement ”), pursuant to which, among other things, CBG was expected to surrender for cancellation the CBG Warrants. On April 14, 2023, Greenstar entered into an exchange agreement with the Company pursuant to which the Company agreed to purchase for cancellation the remaining C$100 million principal amount of Canopy Notes held by Greenstar in exchange for: (i) a cash payment to Greenstar in the amount of unpaid and accrued interest owing under the Canopy Notes held by Greenstar; and (ii) a promissory note