Canopy Growth Corporation (NASDAQ:CGC) (TSX:WEED) has entered into privately negotiated exchange agreements with a limited number of holders, including Constellation Brands, Inc. (NYSE:STZ) through its wholly-owned subsidiary Greenstar Canada Investment Limited Partnership, of the company’s outstanding 4.25% unsecured convertible senior notes due 2023, to acquire approximately CA$255.4 million ($198 million) aggregate principal amount of the notes from the note holders in exchange for common shares of the company and approximately CA$3 million ($2.35 million) in cash for accrued and unpaid interest.
GCILP, a subsidiary of CBI, is participating in the transaction and will acquire a minimum of 21.93 million Canopy shares and up to 30.7 million Canopy shares pursuant to its exchange agreement.
