Canopy Growth Files Revised Proxy Statement, Modifies Canopy USA Structure to Comply with NASDAQ Listing Requirements

Company advances Canopy USA strategy, designed to accelerate entry into the U.S. cannabis market

SMITHS FALLS, ON, May 22, 2023 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX:WEED.TO) (NASDAQ:CGC) announced today that it has filed a revised proxy statement with the U.S. Securities and Exchange Commission (the "SEC"), which includes updates related to its strategy to accelerate entry into the U.S. cannabis industry through a U.S.-domiciled holding company, Canopy USA, LLC ("Canopy USA"). Upon receiving shareholder approval for the creation of a new class of non-voting exchangeable shares in the capital of Canopy Growth, Canopy USA is expected to exercise rights to acquire Acreage Holdings, Inc. ("Acreage"); Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC (collectively, "Wana"); and Lemurian, Inc. ("Jetty").