Canopy Growth completes previously announced acquisition of Beckley Canopy Therapeutics SMITHS FALLS, ON & LONDON

Canopy Growth completes previously announced

acquisition of Beckley Canopy Therapeutics

SMITHS FALLS, ON & LONDON, Oct. 15, 2019

/CNW/ - Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) ("Canopy Growth" or the "Company") has closed the

previously announced acquisition of all outstanding shares in the global cannabinoid based research company Beckley Canopy Therapeutics

(Beckley Canopy), including the joint commercial venture Spectrum Biomedical UK. These teams will now be integrated into the broader

Spectrum Therapeutics organization to increase the breadth of the clinical research being pursued under the Spectrum banner and

to combine continental European and United Kingdom commercial teams.

As a part of the acquisition, Canopy Growth's

European management structure will evolve. Paul Steckler and Steven Wooding will assume the roles of Co-Managing Directors in charge

of all European operations. Paul is a seasoned pharmaceutical executive with over 20 years' experience in commercial roles, having

worked in both large and small pharmaceutical companies including Pfizer. Steve has held multiple positions within a 27-year career

at Janssen, the Pharmaceutical arm of Johnson & Johnson. Most recently, he was head of Global Commercial Strategy and Market

"The acquisition comes at a time when

commercial opportunities across Europe are ramping up," said Mark Zekulin, CEO, Canopy Growth. "Spectrum Biomedical has

completed all necessary approvals to import cannabis into the UK market and is proud to facilitate patient access to safe cannabinoid-based

medicines there. Consolidating our UK-based operations will allow Canopy to simultaneously improve its research and commercial

capabilities across the continent."

Beckley Canopy was formed as a joint venture

in January 2018 between Beckley Research & Innovations ("BRI") and Canopy Growth to research and develop clinically

validated cannabis-based medicines, with a strong focus on intellectual property protection. The research platform combined European

and North American-based leaders in cannabis research from BRI and Canopy Growth to create a strong and complementary UK-based

European partnership. Since its inception, Beckley Canopy has made significant progress in its core research areas, added additional

indications of interest, and worked closely and in a complementary fashion with the global Canopy research team.

Here's to Future (European) 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 4.7 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 strategic acquisitions. 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, including the Company's ability to satisfy

provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company's annual

information form dated June 25, 2019 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.

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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 07:00e 15-OCT-19