Cannabis Giant Canopy Announces $30M Private Placement, Here's Where The Money Will Go
Canadian cannabis company Canopy Growth seeks to raise $30m in a private placement offering. The company said the move would improve its financial standing and enable it to pay down debts. Canopy Growth said in November it has reduced overall debts by C$364m to C$681m since the start of the current fiscal year. The increase in capital will provide working capital, as well as supporting other general corporate needs. The closing of the private placement under the subscription agreements is expected to occur on or about Jan. 10, 2024, subject to customary closing conditions.
