Canopy Growth Congratulates Wana and Jetty on Entry Into New State-Level Markets

Wana Brands re-enters the Florida medical market as Jetty expands to Colorado

SMITHS FALLS, ON – July 18, 2023 – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (Nasdaq: CGC) today congratulates members of Canopy USA LLC’s (“Canopy USA”) ecosystem, Wana Brands (“Wana”), North America’s leading edibles producer, and Jetty Extracts (“Jetty”), a California-based producer of high-quality cannabis extracts and pioneer of clean vape technology, on their respective asset-light expansion strategies which have seen the brands enter two new state-level markets.

“Wana and Jetty are category leaders in edibles and solventless vape and we’re proud of their ongoing expansion to deliver high quality products to consumers across two new states,” said David Klein, CEO, Canopy Growth. “Canopy USA’s ecosystem of companies continue to demonstrate their capabilities for strategic growth into new and opportunistic state-level markets across the U.S. and in parallel, we remain focused on bringing their winning IP north to Canada as Canopy advances our North American brand driven strategy.’’

For Wana, re-entry into the State of Florida marks the 15th active U.S. state or territory leveraging Wana’s proven strategy working with in-market partners to bring cannabis-infused gummies to patients and consumers from North America’s leading edibles producer. Through collaboration with Surterra Wellness in Florida, Wana products from the brand’s premium cannabis-infused gummies lineup like Blueberry Indica, Watermelon Hybrid, Mango Sativa, and Strawberry Lemonade 1:1 will now be available to Florida patients across 45 medical cannabis treatment centers in the state.

With the brand’s expansion to the Colorado and New York markets, Jetty has now brought its category disrupting, award-winning vape products into its third U.S. market after more than a decade of leadership in California. As one of the few to offer a high-quality, flavorful one-gram Solventless Live Rosin Vape, Jetty is building on its March launch in New York by bringing California’s #1 Solventless Vape to Colorado consumers. It launches with a variety of unique strains, including three sativa and three indica offerings. Consistent with Canopy USA’s brand driven, asset-light strategy, Jetty is entering the Colorado market in partnership with Leiffa Brands, an innovative cannabis cultivator, solventless extractor, and Colorado retailer.

In addition to these individual growth strategies, Canopy USA ecosystem member companies continue to develop collaborative opportunities and synergies including TerrAscend (TSX: TSND) becoming the sole manufacturer, supplier, and commercialization partner of Wana Brands in the fast-growing New Jersey market as well as being Wana’s new partner in Maryland which is now adult-use legal.

About Canopy Growth

Canopy Growth is a leading North American cannabis and consumer packaged goods (“CPG”) company dedicated to unleashing the power of cannabis to improve lives.

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 sugar-free sports hydration brand BioSteel, targeted 24-hour skincare and wellness solutions from This Works, gourmet wellness products by Martha Stewart CBD, and category defining vaporizer technology made in Germany by Storz & Bickel.

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

Beyond our 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.

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Laura Nadeau

Tyler Burns
Director, Investor Relations