---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-102220"
form_type: "8-K"
ticker: "CGC"
cik: "0001737927"
company_name: "Canopy Growth Corp"
filed_at: "2023-04-14T23:59:59+00:00"
generated_at: "2026-06-17T02:02:16.734801+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Canopy Growth refinances C$100M of 4.25% notes due 2023 with new promissory note due Dec 2024

## Summary
- Extinguished C$100M (US$73.9M) 4.25% notes due 2023 via exchange with Constellation Brands subsidiary GCILP.
- Issued promissory note for C$100M payable Dec 31, 2024, at 4.25% interest due at maturity.
- Paid accrued interest in cash to GCILP; transaction closed on April 14, 2023.
- Plans to later exchange promissory note for new non-voting exchangeable shares to preserve cash.
- Transaction is a related party transaction; directors affiliated with CBI abstained; exempt from minority approval.

## SEC filing metadata
- accession: 0001193125-23-102220
- form_type: 8-K
- ticker: CGC
- cik: 0001737927
- company_name: Canopy Growth Corp
- filed_at: 2023-04-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737927/000119312523102220/0001193125-23-102220-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737927/000119312523102220/d420382d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-102220
- JSON: https://secwatch.observer/filing/0001193125-23-102220.json
- Plain text: https://secwatch.observer/filing/0001193125-23-102220.txt

## Key facts
- Material Agreements
  Canopy Growth Corp entered into Exchange Agreement with Greenstar Canada Investment Limited Partnership valued at C$100 million (approximately US$73.9 million) aggregate principal amount (effective 2023-04-13).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Greenstar Canada Investment Limited Partnership
  - Value: C$100 million (approximately US$73.9 million) aggregate principal amount
  - Effective: 2023-04-13
  source text: On April 13, 2023, Canopy Growth Corporation (the “ Company ”) entered into an exchange agreement (the “ Exchange Agreement ”) with Greenstar Canada Investment Limited Partnership (“ GCILP ”), a wholly-owned subsidiary of Constellation Brands, Inc., in order to extinguish C$100 million (approximately US$73.9 million) aggregate principal amount of the Company’s outstanding 4.25% unsecured notes due 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737927/000119312523102220/0001193125-23-102220-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.