Evolving Cannabis Industry Potential and Constellation Investment Overview
Getting to Today
CANOPY GROWTH
Constellation
Brands
CORPORATION
50
40
Closing Price (C$)
$9
30
20
20
10
0
Tremendous Canopy Share Price Appreciation Since Constellation's Initial Investment
D
H
A
B
C$37.00
لسا
Oct-2017 Nov-2017
Dec-2017 Jan-2018 Mar-2018
Apr-2018 May-2018
Jul-2018
Aug-2018
Recreational
Medical
C
D
E
30-Oct-2017
Constellation announces
C$245mm investment in Canopy
for ~9.9% ownership
05-Dec-2017
Spectrum Cannabis Denmark
announces forty thousand square
metre medical cannabis facility
08-Dec-2017
Newfoundland & Labrador and
Canopy enter comprehensive
supply, development, and retail
agreement
17-Jan-2018
Canopy offers 5.8mm shares for
C$200.7mm in follow-on offering
11-Apr-2018
Canopy completes three year
supply agreement with the Société
des alcools du Québec
Financial Capital Markets
F
H
H
24-May-2018
Canopy begins trading on NYSE
30-May-2018
Canopy announces entry into
African market
20-Jun-2018
Canadian senate passes Bill C-45,
otherwise known as the Cannabis
Act to legalize recreational use of
marijuana
22-Jun-2018
Canopy issues C$600mm of 4.25%
convertible senior notes due 2023,
with Constellation purchasing
C$200mm
05-Jul-2018
Canopy enters supply agreement
with province of Alberta
05-Jul-2018
Canopy introduces Latin American
subsidiary, Canopy LATAM
Share price has increased ~185% or C$24.02 from Constellation's initial investment at C$12.98
Source: Company information, Press releases, Subscription agreement, Capital IQ, Bloomberg; market data as of 10-Aug-2018
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