Canopy Growth has announced that it has entered into a series of transactions to recapitalize its balance sheet and extend the maturity dates of all outstanding indebtedness to January 2031 at the earliest. At the conclusion of these transactions, Canopy Growth is expected to have cash on hand of approximately C$425 million, providing additional flexibility to support the Company's long-term priorities.
"Today, Canopy Growth moves forward from a position of strength, supported by a robust balance sheet, enhanced liquidity, extended debt maturities, and a clear strategic direction," said Tom Stewart, Chief Financial Officer of Canopy Growth. "We have created a financial runway through 2031, giving us the ability to seize opportunities for growth, building on the momentum of our previously announced acquisition of MTL Cannabis Corp."
"As we continue to execute our strategy focused on disciplined growth, operational excellence and financial stewardship, these Transactions enable the strategic scaling necessary to reinforce Canopy Growth's leadership position, support growing demand in the European medical market, and advance our path to sustained Adjusted EBITDA profitability," said Luc Mongeau, Chief Executive Officer of Canopy Growth.
For more information:
Canopy Growth Corp.
[email protected]
canopygrowth.com
