[PRESS RELEASE] – SMITHS FALLS, Ontario, July 29, 2025 – Canopy Growth Corp. a leading cannabis company in the world dedicated to unlocking cannabis’ power to transform lives announced it had entered an agreement with some of its lenders for three prepayments. These payments are expected reduce the senior secured term loans of the company by US$50,000,000 by March 31st 2026. This agreement was made to facilitate Acreage Financing (described below).
According to the agreement Canopy Growth has agreed to prepay the term loan in the following amounts: US$25,000,000 at par, on or around July 31, 2020; US$10,000,000 at par, on or before December 31, 2025, and US$15,000,000 at par, on or before March 31, 2026. (collectively the “prepayments”) The prepayments will reduce Canopy Growth’s annualized interest expenses under the term loans by US$6.5M.
Canopy Growth CEO Luc Mongeau explained that the prepayments “reflect our ongoing focus on strengthening and lowering our cash interest expense.” Reduced debt will give Canopy Growth the flexibility it needs for sustainable growth.
Canopy USA LLC, in connection with this agreement, obtained the consent of the company (“Acreage funding consent”) to allow Canopy USA LLC to obtain an additional US$22,000,000 in financing for Acreage Holdings Inc. Lenders consent was required for the Acreage funding consent.