An anonymous director reports

CANOPY GROWTH CORPORATION FILES AMENDED AND RESTATED THIRD QUARTER MD&A

Canopy Growth Corp. has filed its amended and restated management's discussion and analysis for the three and nine months ended Dec. 31, 2018, to correct the adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) (1) in the original MD&A for the nine months ended Dec. 31, 2018, filed on Feb. 14, 2019, as follows.

The correction of the adjusted EBITDA loss for the nine months ended Dec. 31, 2018, was from $69,006,000 to $155,154,000. The correction was made due to a formula error in the spreadsheet supporting the year-to-date adjusted EBITDA loss calculation. The adjusted EBITDA loss for the three months ended Dec. 31, 2018, was correct as reported, as were all prior quarters as released.

There are no changes required to Canopy's unaudited condensed interim consolidated financial statements for the three and nine months ended Dec. 31, 2018 (filed on Feb. 14, 2019). Other than as expressly set forth in the amended MD&A, the amended MD&A does not purport to update or restate the information in the original MD&A or reflect any events that occurred after the date of the filing of the original MD&A other than changes to the sections entitled results of operations, third quarter review and adjusted EBITDA (non-generally accepted accounting principle measure).

Note 1: The adjusted EBITDA is a non-GAAP financial measure that does not have any standardized meaning prescribed by international financial reporting standards and may not be comparable with similar measures presented by other companies. The adjusted EBITDA is reconciled and explained in the amended and restated MD&A under adjusted EBITDA (non-GAAP measure).

About Canopy Growth Corp.

Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and soft gel capsule forms. Canopy Growth offers medically approved vaporizers through the company'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. The company has operations in over a dozen countries across five continents.

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