Canopy Growth Announces David Klein as New Chief Executive Officer Mark Zekulin to Step Down Within Current Year as Planned

Canopy Growth Announces David Klein as

New Chief Executive Officer

Mark Zekulin to Step Down Within Current

SMITHS FALLS, ON, Dec. 9, 2019 /CNW/ - Canopy

Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) is pleased to announce that effective

January 14, 2020, David Klein has been appointed as the Company's Chief Executive Officer.

David brings a wealth of expertise to this

role, having served in a number of senior leadership capacities over the past 14 years at Constellation Brands. His capabilities

include extensive CPG and beverage alcohol industry experience, strong financial orientation, and experience operating in highly

regulated markets in the U.S., Canada, Mexico and Europe. David is an experienced strategist with a deep understanding of how to

build enduring consumer brands while leveraging operational scale across a dispersed production footprint. He is a strong leader

with a proven track record of developing diverse and high performing teams.

In his current role as executive vice president

and chief financial officer at Constellation Brands, David oversees all aspects of the company's finance operations, all mergers

and acquisitions, as well as the company's information technology function. He is widely respected among members of the U.S. investment

community, earning recognition as a top CFO by Institutional Investor magazine the past three years. David serves as a member of

Constellation Brands' executive management committee. He has served on the Canopy Growth Board of Directors for over a year and

is presently Canopy Growth's Board Chair. This familiarity with the Company's current leadership team and strategy will allow David

to integrate quickly, a major benefit in the fast-moving cannabis sector.

"Canopy Growth sits at the forefront of

one of the most exciting new market opportunities in our lifetime," said Klein. "Thanks to the efforts of Mark and the

entire team at Canopy Growth, no company is better positioned to win in the emerging cannabis market. I look forward to working

with the team to build on the foundation that has been laid, to develop brands that strongly resonate with consumers, and to capture

the market opportunity before us. Together we will drive sustainable, industry-leading growth that benefits employees, shareholders

and the communities in which we operate."

The appointment of David Klein follows a thorough

recruitment process overseen by a special Hiring Committee of the Board using global recruitment company Heidrick & Struggles,

which saw a wide variety of exceptional candidates vetted and interviewed. David will step down from all other positions he currently

holds, remaining a member of the Canopy Board of Directors. The Company intends to appoint a new Chairperson upon David's effective

Consistent with the previously announced transition

plan, with a new CEO identified Mark Zekulin will be stepping down from his role as CEO and resigning his seat on the Board of

Directors of Canopy effective December 20, 2019. As a founding employee of Canopy Growth (then Tweed Marijuana Inc.), Mark

was instrumental in building Canopy into what it is today first in the role of President, then President and Co-CEO, and finally

"It has been an incredible six years at

Canopy Growth, and I have witnessed the team and Company grow from five people in an abandoned chocolate factory, to thousands

of people across five continents," said Zekulin. "Canopy today is positioned to win with the resources, infrastructure,

team, and award-winning culture needed to succeed. It has truly been an honour to be part of building a unique, Canadian success

story like Canopy, and I look forward to seeing the Company continue to evolve and grow under David's leadership."

Here's to Future Growth.

About Canopy Growth Corporation

Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct

brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's

subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven

by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time.

Canopy Growth has operations in over a dozen countries across five continents.

Canopy Growth's medical division, Spectrum

Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the

public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development.

Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as

single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across

Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large

and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto

Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through

leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including

cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation

Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 10.5 million square feet

of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities

Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities

legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans",

"expects" or "does not expect", "is expected", "estimates", "intends", "anticipates"

or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions,

events or results "may", "could", "would", "might" or "will" be taken, occur

or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which

may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from

any future results, performance or achievements expressed or implied by the forward-looking statements or information contained

in this news release. Examples of such statements include statements with respect to leadership changes and transitions. Risks,

uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects

and opportunities to differ materially from those expressed or implied by such forward-looking information. Examples of such risks

are contained in the Company's annual information form dated June 27, 2018 and filed with Canadian securities regulators available

on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used

in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance

should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames

or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date

of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking

information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Canopy Growth Announces David Klein as New

Chief Executive Officer (CNW Group/Canopy Growth Corporation)

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SOURCE Canopy Growth Corporation

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For further information: Caitlin O'Hara, Media Relations,

Caitlin.Ohara@canopygrowth.com, 613-291-3239; Investor Relations: Tyler Burns, Tyler.Burns@canopygrowth.com, 855-558-9333 ext.

CO: Canopy Growth Corporation

CNW 06:30e 09-DEC-19