Canopy Growth

Canopy Growth Corporation (Nasdaq: CGC; TSX: WEED) is a Canadian licensed producer headquartered in Smiths Falls, Ontario. Beginning in 2017–2018, Constellation Brands invested a cumulative approximately $4 billion in Canopy, becoming its largest shareholder; Constellation substantially wrote down and restructured that stake in subsequent years. Canopy's medical brand is Spectrum Therapeutics, active in Canada, Germany, and other international medical markets, and the company has sponsored clinical research including trials relevant to the NASEM evidence base. ⚠️ As of April 2026, Canopy is in active restructuring: the company completed a January 2026 recapitalization with a new US$162 million term loan and a C$96.4 million convertible-note exchange, deferring all material debt to at least January 2031 and ending the quarter with ~C$425 million in liquid resources. Shareholders and the Supreme Court of British Columbia approved Canopy's acquisition of MTL Cannabis (~C$179 million), which closed in late February 2026. Q3 FY2026 revenue was roughly flat at C$75 million; the share price has declined more than 99% over five years, and the company's prior U.S. "Canopy USA" rescheduling-contingent strategy remains unconsummated. Management targets positive EBITDA in FY2027. → See also: Tilray.