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CannabisNewsBreaks – TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) Announces Changes to Executive Leadership Team

Global cannabis company TerrAscend (CSE: TER) (OTCQX: TRSSF) this morning announced that it has made modifications to its leadership team in coordination with the company’s focus on its rapidly scaling U.S. retail, manufacturing, and distribution operations. Michael Nashat has stepped down as CEO but will continue to serve as a member of the Board of Directors and act as a…

Canopy Growth Announces Additional Exchanges with Holders of Notes

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) announced today that, further to its press release dated June 29, 2022, it has entered into an additional privately negotiated exchange agreement (the “Exchange Agreement”) with a holder (the “Noteholder”) of the Company’s outstanding 4.25% unsecured senior notes due 2023 (the “Notes”), to acquire approximately C$7.25 million (approximately…

Canopy Growth shares fall after it agrees to convert debt into stock in deal with Constellation Brands

Canopy Growth Corp. fell 17% in premarket trades on Thursday after the company said it reached an agreement with Constellation Brands Inc. to convert about $198 million of convertible debt into stock. Constellation agreed to acquire between 21.93 million or 5.4% of Canopy stock and 30.7 million shares or 7.6% of Canopy stock that will convert from debt. The prices…

Canopy Growth Celebrates Summer with New ‘Just Hits Different’ Beverage Campaign

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and cannabis device company, today announced the continued expansion of its cannabis beverage portfolio and a brand campaign that drives awareness of its wide range of cannabis beverages just in time for the summer season. Boasting the category’s fastest growing brands,1 Canopy Growth…

Canopy Growth Announces Exchanges with Holders of Approximately US$198 Million of Convertible Notes

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) announced today that it has entered into privately negotiated exchange agreements (collectively, the “Exchange Agreements”) with a limited number of holders (the “Noteholders”), including Constellation Brands, Inc. (“CBI”) through its wholly-owned subsidiary Greenstar Canada Investment Limited Partnership (“GCILP”), of the Company’s outstanding 4.25% unsecured convertible senior notes due…

Can These Beaten-Down Growth Stocks Be Revived?

The global legal marijuana market could grow at a compound rate of 25% by 2030, according to Grand View Research. One-time investor favorites Canopy Growth (NASDAQ: CGC) and Aurora Cannabis (NASDAQ: ACB) have seen their stocks dip more than 90% in the last three years. Aurora and Canopy have been in pursuit of positive earnings before interest, taxes, depreciation, and amortization (EBITDA) for…

Canopy Growth credit rating hit on market share losses in Canadian cannabis market

Fitch Ratings on Monday downgraded its debt rating on Canopy Growth Corp. and said uncertainty remains whether the company can sustain its capital structure. “It is highly doubtful that Canopy can improve [its] earnings before interest, taxes, depreciation and amortization (Ebitda) to reach operating cash flow breakeven in fiscal 2025 as Fitch previously expected,” the ratings firm said. Fitch cut…