CANOPY GROWTH ANNOUNCES RESULTS OF SPECIAL MEETING OF SHAREHOLDERS Shareholders overwhelmingly approve the creation of a new class of Exchangeable Shares of Canopy Growth, enabling the acceleration of Canopy Growth's ent

GROWTH ANNOUNCES RESULTS OF SPECIAL MEETING OF SHAREHOLDERS

FALLS, ONTARIO April 15, 2024 - Canopy Growth Corporation ("Canopy Growth" or the "Company")

(TSX: WEED, Nasdaq: CGC) today announced the voting results from its special meeting of shareholders held on Friday, April 12, 2024

A total of 32,250,578 common

shares of the Company (the "Shares"), representing 35.40% of the issued and outstanding Shares, were voted in connection with

the Meeting by the Company's shareholders and proxyholders.

The sole matter put forward

before the Company's shareholders for consideration and approval, as set out in the Company's definitive proxy statement dated

February 12, 2024 (the "Proxy Statement"), was approved by the requisite number of votes cast at the Meeting, as

further detailed below.

At the Meeting, shareholders

passed a special resolution authorizing an amendment (the "Amendment Proposal") to the Company's articles of incorporation,

as amended (the "Articles"), in order to, among other things: (i) create and authorize the issuance of an unlimited number

of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth (the "Exchangeable Shares").

The Exchangeable Shares will not carry voting rights, rights to receive dividends or other rights upon dissolution of Canopy Growth but

will be convertible into Shares.

The detailed results of the

vote at the Meeting are set out below:

MJBiz market forecast of total U.S. cannabis market by 2026. All financial figures in this

press release are in USD unless otherwise specified.

"With this successful

shareholder vote complete, our Canopy USA strategy is advancing and is poised to make Canopy the first and only U.S. listed

cannabis company offering shareholders unique exposure to the rapid growth of the U.S. cannabis market," said David Klein,

Chief Executive Officer of Canopy Growth. "Canopy USA can now move quickly to acquire its U.S. assets in Wana, Jetty,

and Acreage, and we expect Canopy Growth to begin highlighting Canopy USA's financial performance to our shareholders

Added Klein, "Buoyed

by recent comments from the President and the Vice-President, Canopy Growth continues to be cautiously optimistic that cannabis will be

moved to Schedule III in the near-term. Following this, we expect an immediate enhancement to the cashflow of Wana, Jetty, and Acreage

resulting from the removal of the prohibition on business deductions in Section 280 which we expect to help power their growth."

Overview of Canopy USA Strategy

On October 25, 2022,

Canopy Growth previously announced a strategy to accelerate its entry into the U.S. cannabis industry and unleash the value of its full

U.S. cannabis ecosystem through the creation of a new U.S.-domiciled holding company, Canopy USA, LLC ("Canopy USA").

Canopy USA holds the Company's U.S. cannabis investments, which will enable it to exercise rights to acquire Acreage Holdings, Inc.

("Acreage"), Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC (collectively, "Wana") and

Lemurian, Inc. ("Jetty"). Canopy Growth is expected to deconsolidate the financial results of Canopy USA and

have a non-controlling interest in Canopy USA, which will be accounted for as an equity method (fair value) investment.

Potential benefits of this

Expected Next Steps in

With shareholders of the Company

approving the Amendment Proposal at the Meeting, the following principal steps are expected to be completed:

Growth shareholders may elect to convert all or part of their Shares into non-trading Exchangeable Shares (the "Common Share Conversion

Right") and holders of Exchangeable Shares may elect to convert all or part of their Exchangeable Shares into Common Shares (the

"Exchangeable Share Conversion Right", together with the Common Share Conversion Right, the "Conversion Right").

It is important to note that the Exchangeable Shares will not be publicly tradable on the TSX, or NASDAQ , or on any stock exchange.

The Conversion Right may be exercised by registered holders of Shares and Exchangeable Shares, as applicable, at any time following the

effective time of the creation of the Exchangeable Shares, by completing and signing a notice of conversion. For more information concerning

the Conversion Right, please refer to the press release of the Company dated March 11, 2024 (https://www.canopygrowth.com/investors/news-releases/canopy-growth-announces-details-regarding-converting-into-exchangeable-shares-2/).

complete results on the matter voted on at the Meeting, please consult the Company's Report of Voting Results, which will be filed

on the Company's SEDAR+ profile at www.sedarplus.ca, and the Company's

Form 8-K which will be filed on EDGAR at www.sec.gov/edgar.

About Canopy Growth Corporation

a leading North American cannabis and consumer packaged goods ("CPG") company dedicated to unleashing the power of cannabis

Through an unwavering commitment

to our consumers, Canopy Growth delivers innovative products with a focus on premium and mainstream cannabis brands including

Doja, 7ACRES, Tweed, and Deep Space. Canopy Growth's CPG portfolio features gourmet wellness products by Martha Stewart CBD,

and category defining vaporizer technology made in Germany by Storz & Bickel.

also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through its rights to Acreage,

a vertically integrated multi-state cannabis operator with principal operations in densely populated states across the Northeast, as well

as Wana Brands, a leading cannabis edible brand in North America, and Jetty Extracts, a California-based producer of high-quality

cannabis extracts and pioneer of clean vape technology.

its world-class products, Canopy Growth is leading the industry forward through a commitment to social equity, responsible use, and community

reinvestment-pioneering a future where cannabis is understood and welcomed for its potential to help achieve greater well-being

and life enhancement. For more information visit www.canopygrowth.com.

Notice Regarding Forward-Looking

This press release contains

"forward-looking statements" within the meaning of applicable securities laws, which involve certain known and unknown risks

and uncertainties. Forward-looking statements predict or describe our future operations, business plans, business and investment strategies

and the performance of our investments. These forward-looking statements are generally identified by their use of such terms and phrases

as "intend," "goal," "strategy," "estimate," "expect," "project,"

"projections," "forecasts," "plans," "seeks," "anticipates," "potential,"

"proposed," "will," "should," "could," "would," "may," "likely,"

"designed to," "foreseeable future," "believe," "scheduled" and other similar expressions.

Our actual results or outcomes may differ materially from those anticipated. You are cautioned not to place undue reliance on these forward-looking

statements, which speak only as of the date the statement was made.

Forward-looking statements

include, but are not limited to, statements with respect to: expectations regarding the Canopy USA THC platform; statements

regarding the expected size of the U.S. cannabis market; statements with respect to our ability to execute on our strategy to accelerate

the Company's entry into the U.S. cannabis industry, capitalize on the opportunity for growth in the U.S. cannabis sector and the

anticipated benefits of such strategy, including the ability to generate revenues and cost synergies; expectations regarding the Company's

ability to deconsolidate the financial results of Canopy USA from the financial results of Canopy Growth; the timing and outcome

of the exercise of rights to acquire Acreage, Wana and Jetty, including the satisfaction or waiver of the closing conditions set out in

the underlying agreements and receipt of all regulatory approvals; the timing and outcome of the CBI Actions; expectations regarding the

Company's future financial reporting, including the timing and contents thereof; expectations regarding the U.S. federal laws and

regulations and any amendments thereto; expectations regarding the potential success of, and the costs and benefits associated with, our

acquisitions, joint ventures, strategic alliances, equity investments and dispositions; our ability to successfully create and launch

brands and further create, launch and scale cannabis-based products; our ability to continue as a going concern; our ability to execute

on our strategy and the anticipated benefits of such strategy; the timing and nature of legislative changes in the U.S. regarding the

regulation of cannabis, including THC; the future performance of our business and operations; and our ability to comply with the listing

requirements of the Nasdaq Stock Market LLC and the Toronto Stock Exchange.

Certain of the forward-looking

statements contained herein concerning the industries in which we conduct our business are based on estimates prepared by us using data

from publicly available governmental sources, market research, industry analysis and on assumptions based on data and knowledge of these

industries, which we believe to be reasonable. However, although generally indicative of relative market positions, market shares and

performance characteristics, such data is inherently imprecise. The industries in which we conduct our business involve risks and uncertainties

that are subject to change based on various factors, which are described further below.

The forward-looking statements

contained herein are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection,

including, without limitation: (i) management's perceptions of historical trends, current conditions and expected future developments;