Welcome to our dedicated page for Canopy Growth news (Ticker: CGC), a resource for investors and traders seeking the latest updates and insights on Canopy Growth stock.
Canopy Growth Corporation (CGC) is a global leader in cannabis production and consumer goods innovation. This news hub provides investors and industry observers with official press releases, financial updates, and strategic developments from one of the sector's most diversified companies.
Access real-time updates on CGC's medicinal cannabis research, recreational product launches, and international market expansions. Our curated collection includes earnings reports, partnership announcements, and regulatory compliance milestones across Canada, Europe, and U.S. markets through Canopy USA.
Key focus areas include vaporizer technology advancements, brand portfolio growth, and cultivation process innovations. Users will find detailed information on THC and CBD product developments, sustainability initiatives, and strategic moves in emerging cannabis markets.
Bookmark this page for direct access to verified CGC announcements. Check regularly for updates on clinical trials, retail partnerships, and operational developments that shape the company's position in the global cannabis industry.
On April 14, 2023, Canopy Growth (NASDAQ: CGC, TSX: WEED) announced an Exchange Agreement with Greenstar Canada Investment Limited Partnership, a subsidiary of Constellation Brands, to extinguish approximately
Canopy Growth Corporation (CGC) announced a US$150 million offering of senior unsecured convertible debentures with an institutional investor. The initial purchase amounts to US$100 million, with an additional US$50 million contingent on specific conditions. These convertible debentures, bearing an interest rate of 5.0% per annum, will convert into common shares at 92.5% of the average price prior to conversion. Canopy aims to utilize the proceeds for working capital and corporate purposes. Notably, the debentures will not be listed on any exchange, and repayment will occur in common shares on the Maturity Date, February 28, 2028.
Canopy Growth Corporation (CGC) announced a transformation of its Canadian operations to an asset-light model, focusing on profitability. The company aims to cut costs by $140-$160 million over the next 12 months by downsizing its production footprint and reducing headcount by approximately 60%, affecting around 800 positions. Q3 FY2023 financial results showed net revenue of $101 million, down 28% year-over-year, and a net loss of $267 million. Despite challenges, management forecasts positive Adjusted EBITDA in FY2024. The company expects pre-tax charges of $425-$525 million due to restructuring, impacting the current quarter and first half of FY2024.
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