Canopy Growth gets $30 million private placement to pay down debt

Chicago, Jan. 9 – Canopy Growth Corp. said that it will be using the proceeds from a $30 million private placement to pay down debt, according to a press release.

The company said that the anticipated paydown is consistent with the company’s strategy for overall debt reduction.

Proceeds may also be used for working capital and other general corporate purposes.

The company sold equity and warrants to certain institutional investors.

Canopy Growth is a Smiths Falls, Ont.-based cannabis company.

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