Canopy Growth Files Definitive Additional Materials for Q3 FY24 Results

Ticker: CGC · Form: DEFA14A · Filed: Feb 26, 2024 · CIK: 1737927

Canopy Growth Corp DEFA14A Filing Summary
FieldDetail
CompanyCanopy Growth Corp (CGC)
Form TypeDEFA14A
Filed DateFeb 26, 2024
Risk Levelmedium
Pages16
Reading Time19 min
Key Dollar Amounts$65B, $65b, $36 M, $262 M, $69M
Sentimentneutral

Sentiment: neutral

Topics: proxy-materials, investor-presentation, quarterly-results

TL;DR

**Canopy Growth just dropped an investor presentation with Q3 FY24 results, likely prepping for a shareholder vote.**

AI Summary

Canopy Growth Corp filed a DEFA14A on February 26, 2024, providing definitive additional materials related to its Schedule 14A information. The filing includes an investor presentation detailing results through Q3 Fiscal 2024. This indicates the company is preparing for a shareholder meeting or seeking shareholder action, with the presentation likely outlining financial performance and strategic updates.

Why It Matters

This filing provides shareholders with updated information on Canopy Growth's financial performance and strategic direction, which could influence investment decisions and future stock performance.

Risk Assessment

Risk Level: medium — The filing itself is routine, but the underlying Q3 results and any associated shareholder actions could introduce market volatility for Canopy Growth Corp.

Key Players & Entities

  • Canopy Growth Corp (company) — Registrant
  • February 26, 2024 (date) — Filing Date
  • Q3 Fiscal 2024 (date) — Reporting Period
  • 001-38496 (other) — SEC File Number
  • 1 HERSHEY DRIVE (other) — Business Address

FAQ

What type of SEC filing is this document?

This document is a DEFA14A, which stands for Definitive Additional Materials under Schedule 14A.

When was this DEFA14A filed?

This DEFA14A was filed on February 26, 2024.

What is the primary content included in this filing?

The primary content included in this filing is an investor presentation detailing results through Q3 Fiscal 2024.

What is the Central Index Key (CIK) for Canopy Growth Corp?

The Central Index Key (CIK) for Canopy Growth Corp is 0001737927.

Is a filing fee required for this specific DEFA14A?

No fee is required for this specific DEFA14A, as indicated by the 'No fee required' box being checked.

Filing Stats: 4,703 words · 19 min read · ~16 pages · Grade level 17.9 · Accepted 2024-02-26 16:15:46

Key Financial Figures

  • $65B — Global reach with North America focus A $65B CAD market opportunity by 2027 1 1 Repr
  • $65b — Vaporizer Core 9 Global Opportunity: A $65b CANNABIS MARKET OPPORTUNITY BY 2027 1 1
  • $36 M — Delivered additional cost reduction of $36 MM in Q3 FY2024 , bringing the total cost
  • $262 M — , bringing the total cost reduction to $262 MM since the beginning of FY2023 Reduced
  • $69M — nning of FY2023 Reduced overall debt by $69MM during Q3 FY2024 Actions Taken Results
  • $23M — enue increased 9% year - over - year to $23MM in Q3 FY2024 driven by growth in the l

Filing Documents

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under §240.14a-12 CANOPY GROWTH CORPORATION (Name of Registrant as Specified in Its Charter) N/A (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. INVESTOR PRESENTATION Results through Q3 Fiscal 2024 2 DISCLAIMERS AND CAUTIONARY STATEMENTS Forward - Looking Information (1/3) This presentation (including any information which has been or may be supplied in writing or orally in connection herewith or in connection with any further inquiries, this "Presentation") contains "forward - looking statements" within the meaning of applicable securities laws, which involve certain known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Canopy Growth Corporation ("Canopy," the "Company," "we," "us" or "our") or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward - looking statements or information contained in this Presentation . To the extent any forward - looking statements in this Presentation constitutes "financial outlooks" within the meaning of applicable Canadian securities laws, the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks . Forward - looking statements predict or describe our future operations, business plans, business and investment strategies and the performance of our investments . These forward - looking statements are generally identified by their use of such terms and phrases as "intend," "goal," "strategy," "estimate," "expect," "project," "projections," "forecasts," "plans," "seeks," "anticipates," "potential," "proposed," "will," "should," "could," "would," "may," "likely," "designed to," "foreseeable future," "believe," "scheduled" and other similar expressions . Our actual results or outcomes may differ materially from those anticipated . You are cautioned not to place undue reliance on these forward - looking statements, which speak only as of the date the statement was made . Examples of such forward - looking statements and uncertainties include, but are not limited to, statements with respect to : the Company's ability to achieve benefits from the anticipated cannabis market opportunity by 2027 and improve adaptability to market demands ; expectations regarding the Company's ability to deconsolidate the financial results of Canopy USA, LLC ("Canopy USA") from the financial results of Canopy upon Canopy USA's acquisition of Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC (collectively, "Wana"), Lemurian, Inc . ("Jetty") and the Class E subordinate voting shares of Acreage Holdings, Inc . ("Acreage") ; expectations regarding the Canopy USA U . S . THC platform, the anticipated timing, occurrence and outcome of the Company's shareholder meeting to pass a special resolution authorizing, among other things, the creation of the of non - voting, non - participating exchangeable shares of the Company (the "Exchangeable Shares") ; the long - term trajectory of the cannabis markets in Canada, the United States and internationally and the Company's ability to capitalize on such cannabis markets ; expectations regarding international demand for adult - use and medical cannabis ; the Company's FY 2024 business outlook and long - term outlook, including the Company's ability to deliver positive Adjusted EBITDA in all business units exiting FY 2024 ; and expectations regarding our future financial performance and other economic, business and/or competitive factors . You are cautioned not to place undue reliance on these forward - looking statements, which speak only as of the date the statement was made . 3 DISCLAIMERS AND CAUTIONARY STATEMENTS Forward - Looking Information ( 2 / 3 ) By their nature, forward - looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved . A variety of

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