Constellation Brands Announces Expiration of Canopy Growth Warrants

VICTOR, N.Y., Nov. 03, 2023 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today the expiration of all its warrants (“Warrants”) to purchase common shares (“Common Shares”) of Canopy Growth Corporation (“Canopy”). All 88,472,861 Tranche A warrants held by Constellation’s wholly-owned subsidiary, CBG Holdings LLC (“CBG”), expired as of November 1, 2023. Since the vesting of the remaining aggregate of 51,272,592 Tranche B and Tranche C warrants was conditioned on the exercise, in full, of the Tranche A warrants, the remaining Warrants are not, and will not become, exercisable by CBG. As a result, Constellation is no longer deemed to beneficially own any of the 139,745,453 Common Shares underlying the Warrants.

The 139,745,453 Common Shares underlying the Warrants would have represented an aggregate of approximately 16.9% of the Common Shares outstanding as of September 30, 2023. CBG and another subsidiary of Constellation, Greenstar Canada Investment Limited Partnership, now hold an aggregate of 171,499,258 Common Shares (representing approximately 20.7% of the issued and outstanding Common Shares) and C$100.0 million principal amount of the 4.25% promissory note due 2024 issued by Canopy.

ADDITIONAL INFORMATION
Other than expiry of the Warrants and the terms of the previously disclosed consent agreement and voting support agreement with Canopy referenced in Constellation’s October 25, 2022 press release, Constellation has no other present plans or future intentions that relate to Canopy. Constellation may from time to time dispose of Common Shares or other securities of Canopy or conduct other transactions, in the future, either on the open market or in private transactions, in each case, depending on a number of factors, including general market and economic conditions, other available investment opportunities, regulatory developments, or other factors determined by Constellation. Depending on market conditions, general economic and industry conditions, Canopy’s business and financial condition, and/or other relevant factors, Constellation may develop other plans or intentions in the future.

A copy of the early warning report filed in connection with this press release will be available on Canopy’s profile on SEDAR at www.sedar.com or may be obtained by contacting Constellation’s Investor Center at 1-888-922-2150.

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The words “expect,” “intend,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to business strategy, future operations, prospects, plans and objectives of management, as well as information concerning expected actions of third parties, including statements related to Constellation’s plans or future intentions that relate to Canopy. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur.

The forward-looking statements are based on management’s current expectations and should not be construed in any manner as a guarantee that such actions will in fact occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release and Constellation undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including those disclosed from time-to-time in Constellation’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2023 and its Quarterly Report on Form 10-Q for the fiscal quarter ended August 31, 2023, which could cause actual future performance to differ from current expectations.

ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It’s worth our dedication, hard work, and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.

Every day, people reach for our high-end, iconic imported beer brands such as those in the Corona brand family like the flagship Corona Extra, Modelo Especial and the flavorful lineup of Modelo Cheladas, Pacifico, and Victoria; our fine wine and craft spirits brands including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey; and our premium wine brands such as Kim Crawford and Meiomi.

As an agriculture-based company, we have a long history of operating sustainably and responsibly. Our ESG strategy is embedded into our business and our work focuses on serving as good stewards of the environment, enhancing social equity within our industry and communities, and promoting responsible beverage alcohol consumption. These commitments ground our aspirations beyond driving the bottom line as we work to create a future that is truly Worth Reaching For.

To learn more, visit www.cbrands.com and follow us on X, Instagram, and LinkedIn.

MEDIA CONTACTSINVESTOR RELATIONS CONTACTS
Amy Martin 585-678-7141 / amy.martin@cbrands.com
Carissa Guzski 315-525-7362 / carissa.guzski@cbrands.com

Joseph Suarez 773-551-4397 / joseph.suarez@cbrands.com
Snehal Shah 847-385-4940 / snehal.shah@cbrands.com
David Paccapaniccia 585-282-7227 / david.paccapaniccia@cbrands.com

A downloadable PDF copy of this news release can be found here: http://ml.globenewswire.com/Resource/Download/ac47d22f-72c6-49ed-9cda-904b89f8e236


Constellation Brands Announces Expiration of Canopy Growth Warrants

THỦ THUẬT HAY

Nguyên nhân gửi video qua Messenger bị mờ và cách khắc phục

Bạn nhận được video mà bạn mình chia sẻ qua Facebook Messenger, nhưng video bị mờ hoặc ngược lại. Dưới đây là cách để gửi video qua Messenger không bị mờ bạn nên biết.

Hướng dẫn sử dụng chế độ hạn chế USB mới trên iOS 12

Khi được bật, chế độ này sẽ buộc bạn phải xác thực lại bất kỳ thiết bị nào cắm vào cổng Lightning trên thiết bị iOS của bạn nếu thiết bị đã bị khóa trong hơn một giờ mà chưa từng mở khóa.

Hướng dẫn thanh toán QR Pay trên Vietinbank iPay

Chỉ cần sử dụng camera điện thoại quét mã QR để thực hiện thanh toán mua sắm online vô cùng nhanh chóng.

Hướng dẫn tạo thiệp chúc mừng Ngày của Cha trên Facebook

Vào những ngày lễ hay những dịp đặc biệt, Facebook thường tạo cho người dùng những khung ảnh hoặc thiệp mời phù hợp với ý nghĩa của ngày lễ đó.

Kích hoạt tính năng tạo mật khẩu ngẫu nhiên trên Chrome

Mới được cập nhật phiên bản mới nhất cách đây không lâu, Chrome tiếp tục chứng tỏ lý do tại sao mình luôn nằm trong top những trình duyệt web tốt nhất hiện nay, một trong những số những tính năng cực hữu ích không thể

ĐÁNH GIÁ NHANH

Đánh giá nhanh Samsung CHG90: màn hình siêu dài 49 triệu của Samsung

Tuy nhiên, nếu cần một không gian làm việc có thể gây ấn tượng cho người khác, hay cần một màn hình với kích cỡ và màu sắc phù hợp với game thủ thì rõ sàng CHG90 là một sản phẩm rất đáng chú ý.

Đánh giá tổng quan Infinix Hot S: Thêm một sự lựa chọn trong tầm giá 3 triệu đồng

Infinix Hot S, nổi bật với thiết kế kim loại đẹp mắt, thời lượng sử dụng pin ấn tượng và camera tốt trong tầm giá khoảng 3 triệu đồng ở thời điểm hiện tại.

Đánh giá chi tiết chiếc smartphone Zenfone 4 Max “nhỏ nhưng có võ”

Thiết kế bên ngoài rất ấn tượng khi máy có khung và mặt lưng bằng kim loại, tạo nên 1 khối thống nhất và liền lạc mang đến cảm giác cầm nắm thuận tiện mà không kém phần sang trọng.