Canopy Growth Announces Filing of Early Warning Report regarding TerrAscend Corp.

ACQUISITION OF OPTION TO MAINTAIN PRO RATA OWNERSHIP INTEREST OF APPROXIMATELY 20% FOLLOWING TERRASCEND FINANCING

Canopy Growth to receive exchangeable shares, warrants and debt in TerrAscend, increasing its direct conditional ownership in TerrAscend from approximately 13% to approximately 21% of the issued and outstanding shares on a fully-diluted basisCanopy Growth to increase ownership in Vert Mirabel from approximately 41% to approximately 67%In exchange, Canopy Growth to fully retire its ownership interest in Canopy Rivers, which currently represents approximately 27% and approximately 84% of the voting rights, provide cash payment of and issue 3,750,000 common shares in Canopy Growth to Canopy Rivers. , /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth") (TSX: WEED) (NASDAQ: CGC) today announced that it has entered into an arrangement agreement (the "Arrangement Agreement") with its wholly-owned subsidiary The Tweed Tree Lot Inc. ("Tweed NB"), Canopy Rivers Inc. ("Canopy Rivers") (TSX: RIV) and its wholly-owned subsidiary Canopy Rivers Corporation ("CRC") pursuant to which Canopy Growth will acquire certain assets from CRC, as set out below, in exchange for cash, common shares in the capital of Canopy Growth (the "Canopy Growth Shares") and the surrender of all shares in the capital of Canopy Rivers held by Canopy Growth by way of a plan of arrangement under the () (the "Arrangement").  "Canopy Rivers was established in 2017 as a strategic investment vehicle for Canopy Growth, helping us pursue key business opportunities including development of the Vert Mirabel greenhouse which today is a very important component of our Canadian cannabis operations," said , CEO, Canopy Growth. "With our new strategy in place, it is appropriate for us to divest our interest in Canopy Rivers to increase our focus as a company."