# EDGAR Filing Document

**Accession Number:** 0001737927
**File Stem:** 0000000000-23-000963
**Filing Date:** 2023-1
**Character Count:** 10000
**Document Hash:** 18c1f27089ba69e8167aa9b3437ba2a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-000963.hdr.sgml**: 20240417

**ACCESSION NUMBER**: 0000000000-23-000963

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230130

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Canopy Growth Corp
- **CENTRAL INDEX KEY:** 0001737927
- **STANDARD INDUSTRIAL CLASSIFICATION:** MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
- **ORGANIZATION NAME:** 03 Life Sciences
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 001-38496

**BUSINESS ADDRESS:**
- **STREET 1:** 1 HERSHEY DRIVE
- **CITY:** SMITH FALLS
- **STATE:** A6
- **ZIP:** K7A0A8
- **BUSINESS PHONE:** 855-558-9333

**MAIL ADDRESS:**
- **STREET 1:** 1 HERSHEY DRIVE
- **CITY:** SMITH FALLS
- **STATE:** A6
- **ZIP:** K7A0A8
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001193125-22-268378

## Text-Extract

```

United States securities and exchange commission logo

                             January 30, 2023

       David Klein
       Chief Executive Officer
       Canopy Growth Corporation
       1 Hershey Drive
       Smiths Falls, Ontario, K7A 0A8

                                                        Re: Canopy Growth
Corporation
                                                            Amendment No. 2 to
Preliminary Proxy Statement on Schedule 14A
                                                            Filed January 17,
2022
                                                            File No. 001-38496

       Dear David Klein:

              We have reviewed your filing and have the following comments. In
some of our
       comments, we may ask you to provide us with information so we may better
understand your
       disclosure.

              Please respond to these comments within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comments apply to your facts and circumstances, please tell us why in
your response.

                                                        After reviewing your
response to these comments, we may have additional comments.

       Amendment No. 2 to Preliminary Proxy Statement on Schedule 14A

       Letter to Shareholders, page i

   1.                                                   We refer to prior
comment 7. Please revise your letter to shareholders to explain whether
                                                        Canopy USA will have
the ability to dividend funds to Canopy while the Non-Voting
                                                        Share structure is in
place and whether Canopy will have the ability or obligation to
                                                        provide funds to Canopy
USA.
   2.                                                   We note your revised
disclosures in response to prior comment 2. With reference to your
                                                        disclosure at the
bottom of page 30, please revise the letter to shareholders to provide
                                                        context by explaining
that if the acquisitions are undertaken, the United States Department
                                                        of Justice could allege
that Canopy, its Board and potentially its Shareholders    aided and
                                                        abetted    violations
of U.S. federal law.
 David Klein
FirstName  LastNameDavid
Canopy Growth   CorporationKlein
Comapany
January 30,NameCanopy
            2023        Growth Corporation
January
Page 2 30, 2023 Page 2
FirstName LastName
Structure of Canopy USA, page 19

3.       We note your response to prior comment 9. Please file the Operating
Agreement prior to
         the meeting date and revise the proxy statement to identify the
Managing Member of VCo
         Ventures.
General

4.       We note your revised disclosures in response to prior comment 14.
Based on your
         disclosure on page ii and your response, it appears that there is a
reasonable likelihood
         that your common stock will be delisted from Nasdaq if you pursue the
transaction as
         structured and there is no indication that another national securities
exchange would list
         the securities. Accordingly, we reissue prior comment 14.

         With regard to the last paragraph of your response, we note that your
proxy statement
         does not discuss a plan to restructure the transaction to avoid Nasdaq
delisting and instead
         contemplates that you would likely begin quotation on the OTCQX Best
Market. To the
         extent that your plan is to restructure the transaction to avoid
Nasdaq delisting, then please
         substantially revise the proxy statement to explain the amended
transaction structure,
         including your amended interest in Canopy USA and the revised terms of
the Protection
         Agreement and the Canopy USA operating agreement. Also, disclose
whether you have
         discussed the revised structure with Nasdaq. With reference to Comment
28 from our
         November 22, 2022 letter, please note that we may have additional
comments once we see
         your revised proxy disclosure.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       You may contact Tara Harkins at 202-551-3639 or Lynn Dicker at
202-551-3616 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Alan Campbell at 202-551-4224 or Joe McCann at 202-551-6262 with any
other
questions.

                                                                Sincerely,

                                                                Division of
Corporation Finance
                                                                Office of Life
Sciences
cc:      Yariv Katz

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

DIVISION OF
CORPORATION FINANCE

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

January 30, 2023

David Klein
Chief Executive Officer
Canopy Growth Corporation
1 Hershey Drive
Smiths Falls, Ontario, K7A 0A8

**Re: Canopy Growth Corporation**

**Amendment No. 2 to Preliminary Proxy Statement on Schedule 14A**

**Filed January 17, 2022**

**File No. 001-38496**

Dear David Klein:

We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response.

After reviewing your response to these comments, we may have additional comments.

Amendment No. 2 to Preliminary Proxy Statement on Schedule 14A

Letter to Shareholders, page i

1. We refer to prior comment 7. Please revise your letter to shareholders to explain whether Canopy USA will have the ability to dividend funds to Canopy while the Non-Voting Share structure is in place and whether Canopy will have the ability or obligation to provide funds to Canopy USA.
2. We note your revised disclosures in response to prior comment 2. With reference to your disclosure at the bottom of page 30, please revise the letter to shareholders to provide context by explaining that if the acquisitions are undertaken, the United States Department of Justice could allege that Canopy, its Board and potentially its Shareholders “aided and abetted” violations of U.S. federal law.

David Klein  
Canopy Growth Corporation  
January 30, 2023  
Page 2

# Structure of Canopy USA, page 19

3. We note your response to prior comment 9. Please file the Operating Agreement prior to the meeting date and revise the proxy statement to identify the Managing Member of VCo Ventures.

# General

4. We note your revised disclosures in response to prior comment 14. Based on your disclosure on page ii and your response, it appears that there is a reasonable likelihood that your common stock will be delisted from Nasdaq if you pursue the transaction as structured and there is no indication that another national securities exchange would list the securities. Accordingly, we reissue prior comment 14.

With regard to the last paragraph of your response, we note that your proxy statement does not discuss a plan to restructure the transaction to avoid Nasdaq delisting and instead contemplates that you would likely begin quotation on the OTCQX Best Market. To the extent that your plan is to restructure the transaction to avoid Nasdaq delisting, then please substantially revise the proxy statement to explain the amended transaction structure, including your amended interest in Canopy USA and the revised terms of the Protection Agreement and the Canopy USA operating agreement. Also, disclose whether you have discussed the revised structure with Nasdaq. With reference to Comment 28 from our November 22, 2022 letter, please note that we may have additional comments once we see your revised proxy disclosure.

We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.

You may contact Tara Harkins at 202-551-3639 or Lynn Dicker at 202-551-3616 if you have questions regarding comments on the financial statements and related matters. Please contact Alan Campbell at 202-551-4224 or Joe McCann at 202-551-6262 with any other questions.

Sincerely,

Division of Corporation Finance

cc: Yariv Katz