Canopy Growth to raise $250M for marijuana

Added on 05 July 2024

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Canopy Growth to raise $250M for marijuana

Days after exercising an option to acquire a U.S.-based marijuana multistate operator, onetime billion-dollar cannabis giant Canopy Growth Corp. is planning to raise up to $250 million (341.7 Canadian dollars) via an at-the-market (ATM) equity program.

The Smiths Falls, Ontario-based company did not say when it would issue and sell the new common shares “in concurrent public offerings in the United States and Canada,” nor did it specify a target sale price.