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This Amendment No. 4 (this “Amendment”) is being filed by Greenstar Canada Investment Limited Partnership (“Greenstar LP”), Greenstar Canada Investment Corporation (“GCIC”), Constellation Brands Canada Holdings ULC, Constellation Capital LLC, Constellation International Holdings Limited, CBG Holdings LLC (“CBG”) and Constellation Brands, Inc. (“Constellation”) (collectively, the “Reporting Persons”), pursuant to Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
This Amendment amends the Schedule 13D filed on July 17, 2018 by Greenstar LP, GCIC, Constellation Brands Canada Holdings ULC, Constellation Capital LLC, Constellation International Holdings Limited and Constellation (the “Initial Schedule 13D”), as the Initial Schedule 13D was amended by (i) Amendment No. 1 filed on August 16, 2018 (the “First Amendment”), by the Reporting Persons, (ii) Amendment No. 2 filed on November 2, 2018 (the “Second Amendment”) by CBG and Constellation and (iii) Amendment No. 3 filed on December 3, 2018 (the “Third Amendment” and together with the First Amendment, the Second Amendment and the Initial Schedule 13D, the “Schedule 13D”) by Greenstar LP, GCIC, Constellation Brands Canada Holdings ULC, Constellation Capital LLC, Constellation International Holdings Limited and Constellation.
Item 1. Security and Issuer.
Item 1 of the Schedule 13D is hereby amended and restated in its entirety as follows:
The title and class of equity securities to which this Amendment relates is the Common Shares, no par value (the “Common Shares”), of Canopy Growth Corporation, a company organized and existing under the laws of Canada (the “Issuer” or “Canopy”). The principal executive offices of the Issuer are located at 1 Hershey Drive, Smiths Falls, Ontario Canada, K7A 0A8.
Item 2. Identity and Background.
Paragraphs (a) – (c) of Item 2 of the Schedule 13D is hereby revised and supplemented with the following:
(a) – (c) The principal office address or business address of Greenstar LP and of GCIC is 1055 West Hastings Street, Suite 1700, Vancouver, British Columbia Canada, V6E 2E9.
Current information concerning the identity and background of each executive officer and director of CBG, GCIC, Constellation Brands Canada Holdings ULC, Constellation Capital LLC, Constellation International Holdings Limited and Constellation is set forth onAnnex A (collectively, the “Covered Persons”), attached hereto and incorporated herein by reference.
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is hereby revised and supplemented with the following:
As previously reported, on November 1, 2018, CBG, a wholly-owned subsidiary of Constellation, acquired 139,745,453 Common Share purchase warrants in the Issuer (the “CBG Warrants”), which consisted of 88,472,861 CBG Warrants exercisable at a price of C$50.40 per share (the “Tranche A Warrants”) and 51,272,592 CBG Warrants exercisable upon the exercise, in full, of the Tranche A Warrants at a price based on thefive-day volume-weighted average trading price of the Issuer’s common shares on the Toronto Stock Exchange immediately prior to exercise (the “Tranche B Warrants”). The CBG Warrants were exercisable over a three-year period from November 1, 2018.
On April 18, 2019, the Issuer entered into a definitive agreement (as amended, the “Acreage Arrangement”) with Acreage Holdings, Inc. (“Acreage”), that grants Issuer the right to acquire all of the issued and outstanding shares in the capital of Acreage (the “Acreage Transaction”), with a requirement for the Issuer to do so at such time as the general cultivation, distribution and possession of marijuana becomes legal under United States federal law or the regulation of such activities is removed from United States federal law, subject