Investor Presentation
Company Journey
MA
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JW ASSET
MANAGEMENT
CANOPY GROWTH
2017
Founded
CORPORATION
Initial investment in
TerrAscend of $52.5M
2017
December
Incorporated Q1
Publicly Listed
May 2017 (CSE: TER)
Launched as Canadian LP
Pivoted operations
to the US Market
2018
October
2018
December
(CSE: TER | OTCQX: TRSSF)
Awarded NJ Vertically
Integrated License
NJ
CA
Acquired
APOTHECARIUM
2019
June
2019
September
Acquired
ILERA
Canopy Growth
financing $60M
A
Opened 2nd and 3rd PA
dispensaries
Opened 4th California
dispensary in Berkeley
2020
March - July
HEALTHCARE
2020
Q4
Dec. 2020:
Closed $140M
of debt financing
Jan. 2021:
Raised $175M in non-
brokered private
placement
2020/21
Dec/January
First of 3 Apothecarium
dispensaries opened in NJ
along with processing and
cultivation facility
Opened 5th California
dispensary in Capitola
2021
Q4
Announced 2021
results:
$210.4M Revenue,
$65.6M Adj. EBITDA
(31.2% margin),
$79.6M cash on
balance sheet
2021
April/May
Opened 2nd NJ
Apothecarium in Maplewood
Acquired KCR PA (3
operating dispensaries)
Acquired HMS Grower /
Processor in Maryland
MD
April-Aug- Oct
July
2022
NJ begins adult-
use sales on
April 21, 2022
Opened 3rd New
Jersey
dispensary in
Lodi in July
March
2022
Completed
Acquisition of Gage
Cannabis
2022
Launched The
Apothecarium
Mobile App on
the Apple App
Store
Completed Pinnacle
Acquisition for 5 operating
dispensaries in Michigan
Introduced Gage and Cookies
brands in Pennsylvania
GAGE
CANNABIS CO
Closed $45.5M non-brokered
senior secured term loan
Dec
2022
Entered into arrangement
with Canopy USA,
converting CAD$125.5M
in debt to equity at ~100%
premium to prevailing
price
Completed amendment to
Pennsylvania Loan,
bringing cumulative debt
reduction to $160M with
total annual interest
savings of $15MP.4View entire presentation