Exchange of Supreme Shares — Tax Election
Reference is made to the Management Information Circular of The Supreme Cannabis Company, Inc. (“Supreme”) dated May 11, 2021 and specifically to the discussion for Supreme shareholders beginning on page 84 under the sub heading “Certain Canadian Federal Income Tax Considerations – Holders Resident in Canada – Exchange of Supreme Shares – Section 85 Election”. If you are eligible and wish to make an election (a “Tax Election”) pursuant to Section 85 of the Income Tax Act (Canada) in respect of Canopy Growth Corporation’s (“Canopy”) acquisition of your Supreme shares please complete the applicable prescribed form(s) (refer to links below) and e-mail the completed and signed form(s) to firstname.lastname@example.org.
Following sixty days from the effective date of Canopy’s acquisition of Supreme, completed and signed forms that have been emailed to and received by Canopy will be reviewed for compliance with applicable requirements and, if appropriate, a Canopy signed version of the form(s) will be returned to the email address from which the completed and signed form(s) was sent. A form(s) that is determined to be incomplete, and/or not meeting applicable requirements, will be returned to the email address from which the completed and signed form(s) was sent and shall indicate the issue(s) / error(s) and provide an opportunity to rectify the issue(s) / error(s).
Please ensure that relevant contact information (e.g., name and means of communication (i.e., e-mail, telephone number, etc.)) is provided when submitting the completed and signed form(s).
It is the responsibility of the investor to ensure that a fully executed form(s) (that is, the form(s) that has been signed by both the investor and Canopy) are submitted to the relevant tax authority by the relevant due date for the form(s).
Canopy is not providing any legal or tax advice regarding the Tax Election. Supreme Shareholders should discuss the implications of making a Tax Election with their own legal and tax advisors.
The Canada Revenue Agency PDF fillable forms are found at:
T2057 for use by individuals, trusts, and corporations:
T2058 for use by Partnerships:
Publications relevant to the joint tax election may be found at:
For Quebec residents/taxpayers, in addition to the above noted federal forms provided by the CRA, the following are provided by Revenu Quebec:
TP-518(-V) for use by individuals, trusts, and corporations:
TP-529(-V) for use by Partnerships: