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    WEED   CA1380351009

CANOPY GROWTH CORPORATION

(WEED)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-12-02 pm EST
5.760 CAD   +9.09%
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CANOPY GROWTH CORP : Regulation FD Disclosure, Other Events, Financial Statements and Exhibits (form 8-K)

09/28/2022 | 05:26pm EST

Item 7.01 Regulation FD Disclosure.

On September 27, 2022, Canopy Growth Corporation (the "Company" or "Canopy Growth") issued a press release to announce the Company's divestiture of its Canadian retail operations. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein solely for purposes of this Item 7.01 disclosure.

The information set forth and incorporated by reference in Item 7.01 of this Current Report on Form 8-K ("Current Report"), including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section. The information set forth and incorporated by reference in Item 7.01 of this Current Report, including Exhibit 99.1 attached hereto, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing.

Item 8.01 Other Events

On September 23, 2022, the Company entered into an agreement (the "OEG Transaction") with 2675970 Ontario Inc. ("OEG Purchaser"), which is a part of the OEG Retail Cannabis portfolio of companies ("OEG"), pursuant to which OEG Purchaser has agreed to acquire all of Canopy Growth's corporate stores outside of Alberta as well as all Tokyo Smoke-related intellectual property. Upon completion of the OEG Transaction, OEG Purchaser will acquire ownership of 23 Tokyo Smoke and Tweed store locations across Manitoba, Saskatchewan, and Newfoundland and Labrador. As part of the OEG Transaction, the Tokyo Smoke brand will be transferred to an affiliate of OEG Purchaser and any purchased stores currently branded as Tweed will be rebranded. In addition, in connection with the OEG Transaction, the master franchise agreement between the Company and 2733181 Ontario Inc. ("OEG Licensee"), which is a part of the OEG Retail Cannabis portfolio of companies, pursuant to which OEG Licensee licenses the Tokyo Smoke brand in Ontario, will be terminated on the closing of the OEG Transaction.

The Company has also reached an agreement (the "FOUR20 Transaction") with 420 Investments Ltd. ("FOUR20") pursuant to which FOUR20 has agreed to acquire the ownership of five retail locations in Alberta. Following the close of the FOUR20 Transaction, these stores will be rebranded under FOUR20's retail banner.

Closing of the OEG Transaction and the FOUR20 Transaction is subject to regulatory approvals and other customary closing conditions.

In addition to the foregoing divestitures, the master license agreement between Canopy Growth and Alimentation Couche-Tard Inc. with respect to the use of the Tweed brand for brick-and-mortar retail stores operating in Ontario has also been terminated. The Company will continue to own and operate the Tweed brand, including a vast portfolio of mainstream flower, pre-rolled, and ready-to-enjoy options.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits

Exhibit
  No.        Description

99.1           Press release dated September 27, 2022

104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document).

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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