Canopy Growth Corp (TSX: WEED) announced this morning that the company has raised $200,680,000 by selling a total of 5,800,000 common shares at $34.60 per share. The financing was led by co-led by GMP Securities L.P. and BMO Capital Markets and including Canaccord Genuity Corp., Eight Capital, Beacon Securities Limited, and PI Financial Corp.
Canopy plans to build upon its local presence in Canada, as well as, use the funds to fully expand the company’s operation globally.
From the Press Release:
“Canopy Growth intends to use proceeds from the Offering for general working capital purposes, such as brand augmentation, channel development, technology investments, research, and developing new product offerings. Canopy Growth may reallocate these funds as market and regulatory indicators warrant in light of the legalization and implementation of a national recreational cannabis market.”
About the Canopy Growth Corp. Brands
Tweed is the most recognized marijuana production brand in the world. It has built a large and loyal following by focusing on quality products and meaningful customer relationships. Tweed doesn’t just sell marijuana, it facilitates a conversation about a product we’ve all heard about but haven’t met intimately yet. It is approachable and friendly, yet reliable and
trusted. As marijuana laws liberalize around the world,
Tweed will expand its leading Canadian position around the globe.
Spectrum Cannabis is Canopy Growth’s international medical brand, serving as the Company’s healthcare professional and patient-facing identity in medical markets in Canada and around the world. Spectrum Cannabis is focused on the simplification of healthcare interactions, stakeholder outreach, and patient education, applying a colour-coded
Spectrum to classify cannabis that tens of thousands of
Canadians rely on each day. With a presence in multiple
jurisdictions across several continents, our industry-leading
expertise developed in Canada is now available around the world
through the Spectrum Cannabis brand.
Bedrocan is the epitome of medical-grade cannabis. Bedrocan BV pioneered medical cannabis in Holland through decades of selection and refinement, leading to standardized, whole bud cannabis strains that patients can rely on. Bedrocan Canada supplies the same standardized strains to the Canadian market through exclusive licensing rights to the American continents, an
arrangement it will also enjoy for all future genetic
advancements. Due to its consistency over time,
Bedrocan’s strains have been used in clinical research in seven
European countries. That commitment to research didn’t stay
on the east side of the Atlantic – Bedrocan Canada recently launched
one of the largest clinical cannabis studies in the world, the
EQUAL Study, to evaluate quality of life before and
after medical cannabis use.