Canopy Growth Corporation develops and sells cannabis products for adult-use and medical markets, with common shares trading as CGC on Nasdaq and WEED on the TSX. Company updates frequently cover Canadian brand activity across Tweed, Deelish, 7ACRES, DOJA, Deep Space and related formats including flower, pre-rolls, vapes, softgels and minor cannabinoid products.
News also centers on medical cannabis services through Canada House Clinics and the Abba Medix online channel, Storz & Bickel vaporization devices, operating and financial results, capital-structure actions, shareholder voting matters and governance changes. Canopy Growth also discloses its unconsolidated, non-controlling interest in Canopy USA as exposure to the U.S. THC market.
Canopy Growth (NASDAQ: CGC) has announced a new US$200 million at-the-market equity program that enables the company to issue and sell common shares in concurrent public offerings in the United States and Canada. The shares will be sold at prevailing market prices through Nasdaq and TSX.
The net proceeds will be used for:
- Corporate investments and potential acquisitions
- Working capital and general corporate purposes
- Debt repayment, including an optional US$100 million prepayment that would extend the company's term loan maturity to September 18, 2027
The ATM Program will be effective until the earlier of the complete sale of shares, regulatory cessation, or July 5, 2026. BMO Nesbitt Burns Inc. and BMO Capital Markets Corp. will serve as agents for the program.
Canopy Growth (TSX: WEED) (NASDAQ: CGC) has launched its Tweed brand in the German medical cannabis market, introducing four new strains through a partnership with Portuguese cultivator Gro-Vida. The new offerings include Jack Herer (sativa-dominant), Balanced Caramel and Wappa (indica-prominent), and Gelato 33 (balanced hybrid).
This expansion follows the December 2024 launch of Tweed's Glitter Bomb strain in Germany through an agreement with German-based Cansativa. The company aims to provide consistent, reliable flower supply to meet growing patient demand for higher-THC genetics, leveraging both EU-based cultivators and their EU-GMP facility in Canada.
Canopy Growth (TSX: WEED) (NASDAQ: CGC) has expanded its Deep Space Propulsion beverage lineup with two new cannabis-infused flavors: Rocket Root Beer and Charged Cream Soda. These additions join the existing Blue Sourberry and Altitude Lemon Lime offerings.
Each 355ml can contains 10mg of THC, 10mg of CBG, and less than 30mg of naturally occurring caffeine. The beverages are crafted with natural flavors, with Rocket Root Beer featuring a deep, rich taste and Charged Cream Soda offering a smooth vanilla cream experience.
The new products are now available at licensed cannabis retailers across select Canadian regions and through the Spectrum Therapeutics online store for medical consumers.
Canopy Growth (CGC) reported Q3 FY2025 financial results, with net revenue of $74.8 million, representing a 5% decrease year-over-year. However, excluding divested businesses, net revenue increased 8% driven by growth in medical cannabis and Storz & Bickel segments.
Key highlights include: Storz & Bickel revenue grew 19% year-over-year to $22 million; Canada medical cannabis revenue increased 16%; and international markets cannabis revenue grew 14%. The company's gross margin decreased 400 basis points to 32%. Operating loss improved 61% to $24 million, while Adjusted EBITDA loss improved 61% to $3 million.
The company successfully launched Claybourne infused pre-rolls in Canada, achieving #3 market share in British Columbia and Ontario after 6 weeks. Total debt decreased to $442 million from $554 million, primarily due to early prepayment of senior secured term loan.
Canopy Growth (TSX: WEED) (NASDAQ: CGC) has announced it will release its third quarter fiscal 2025 financial results on February 7, 2025, before market open. The results will cover the period ended December 31, 2024.
The company will host an audio webcast featuring CEO Luc Mongeau and CFO Judy Hong on February 7 at 10 AM Eastern Time. The webcast will be available live, with a replay accessible until May 8, 2025.
Canopy USA has appointed M. Brooks Jorgensen as its first-ever President, effective January 6, 2025. Jorgensen brings over 25 years of leadership experience in cannabis, wine, and spirits industries. Most recently, he served as President of Kiva Sales and Service, developing it into the largest full-service cannabis products distributor in the U.S.
Following the completed acquisitions of Acreage, Wana, and Jetty, Canopy USA is positioned across key U.S. cannabis market segments including flower, edibles, vapes, and extracts, with retail presence through The Botanist locations in the Midwest and Northeast. The U.S. cannabis market is projected to reach $50 billion in sales by 2026.
Jorgensen's appointment follows a comprehensive search by the Canopy USA Board of Managers and the recent Acreage acquisition announced on December 9, 2024. In his role, he will oversee the continued integration of Canopy USA's operations as a unified platform.
STORZ & BICKEL, a subsidiary of Canopy Growth (NASDAQ: CGC), made history as the first vaporizer brand to sponsor NYLON House during Miami Art Week 2024. The company showcased its products through a VIP VOLCANO Bar aboard a yacht at Star Island estate. Simultaneously, their latest device, VENTY, won 'Vaporizer of the Year' at the 2024 EMJAYS International Cannabis Awards in Las Vegas. The VENTY was recognized for its rapid heat up time, exceptional air flow, and medical-grade quality, reinforcing STORZ & BICKEL's position as a leading provider of vaporization technology.
Canopy USA has completed its acquisition of Acreage Holdings, now owning 100% of its shares. This follows the previously completed acquisitions of Wana (100%) and Jetty (77%). The consolidation creates a unified platform across three business units, covering key market segments including flower (Superflux), vape and concentrates (Jetty), and edibles and beverages (Wana), with retail presence through The Botanist.
The transaction involved Canopy Growth issuing approximately 5.89 million shares (valued at US$21.2 million) to former Acreage shareholders, plus additional shares for minority interests. Canopy Growth now holds approximately 84.4% of Canopy USA's shares on an as-converted basis. The integration is expected to generate revenue growth and cost synergies, particularly in the Midwestern and Northeastern U.S. markets.
Canopy Growth (TSX: WEED, NASDAQ: CGC) has launched new holiday-inspired cannabis products. The lineup includes Tweed Cranberry Ginger Ale, a sugar-free cannabis beverage containing 10mg THC, and Tweed Snowtorious 91K flower, an indica strain featuring minty and diesel aromas.
Additional seasonal offerings include 7ACRES Ultra Jack, a sativa-dominant hybrid with citrus and earthy spice notes, and Claybourne Frosted Flyers infused pre-rolls available in various flavors including Blue Dream, Strawberry Cough, Pineapple Express, Grape Gasolina, and Banana OG. Products will be available through legal recreational cannabis channels and the Spectrum Therapeutics online store for medical consumers.
Canopy Growth (TSX: WEED, NASDAQ: CGC) and Acreage Holdings announced that Canopy USA is expected to complete its acquisition of Acreage around December 9, 2024. The acquisition includes both Fixed Shares and Floating Shares of Acreage, subject to closing conditions. Notably, if Canopy Growth's share price on Nasdaq doesn't exceed US$5.00 before closing, Fixed Share holders will receive no consideration. Upon completion, Canopy USA will own 100% of Acreage's outstanding shares. Letters of transmittal for the acquisition will be mailed to registered Acreage shareholders.