The Globe and Mail reports in its Saturday edition that Canopy Growth tumbled 34 cents to close Friday in Toronto at 51 cents. The Globe's Irene Galia and David Milstead write that the shares fell after Canopy said it was issuing new equity to reduce its debt load, just one day before a key debt maturity. Canopy said the agreements with its lenders cover $325-million in obligations. Coupled with planned asset sales, Canopy will shave $437-million in debt from its balance sheet in the next two quarters, it said Friday. The Globe reports that in the past month, several analysts have cut their predictions for the company's stock to zero, reflecting the view that Canopy cannot claw its way out of debt. As of March 31, Canopy's last earnings report, it had $1.4-billion in debt and less than $800-million in cash. Four years ago, its cash hoard stood at more than $4.5-billion. Canopy has never been profitable, and its losses are widening. It posted a net loss of nearly $3.3-billion on $403-million in revenue in its most recent fiscal year, ended in March. On Friday Canopy said it was paying off $225-million in convertible senior notes, with lenders holding $193-million of the debt agreeing to a special swap deal.