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CANOPY GROWTH ANNOUNCES NEW PREMIUM FLOWER LINE-UP PERFECT FOR SUMMER STAYCATIONS AND WEEKENDS AWAY

T.WEED | July 28, 2022

New premium flower offerings from 7ACRES and Doja drop in retail locations this summer

SMITHS FALLS, ON, July 28, 2022 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis and cannabinoid-based consumer product company, today announced several new additions to its premium flower portfolio. Perfect for both staycations and weekends away, the new premium flower offerings from 7ACRES and Doja demonstrate Canopy Growth's commitment to continued innovation and strengthen its leading position in the premium flower category.

Leveraging insights that 85% of cannabis consumers consider product quality to be an important factor in their purchasing decision,1 the Company is releasing a range of new, premium flower offerings throughout the summer from 7ACRES and Doja, two premium brands renowned for their commitment to producing high quality cannabis. With these new releases, Canopy expands its premium flower options that deliver on the quality, genetics, and innovation that cannabis connoisseurs demand.

Grown by enthusiasts, for enthusiasts, 7ACRES is committed to producing the best premium cannabis for the community and is continuously focused on updating and innovating cultivation and improving processing techniques, with each harvest striving for better aroma, appearance, size, and flavour. The brand's spirit of continuous improvement was evident in its early-summer release of Jack Haze Bubble Hash Infused pre-roll joints, the brand's first in this format. The latest releases from 7ACRES include 7ACRES Platinum Kush Breath, a new 3.5g dried flower offering with a unique aroma and flavour profile, and a new infused pre-rolled joint offering made with 7ACRES Papaya flower and bubble hash.

Doja, a top-selling brand born in British Columbia and known for its premium, hand-crafted flower, cultivates cannabis using methods true to its decades-long legacy of growing in BC's Okanagan Valley. One of its top-selling strains, Doja 91K, recently became available in 14g, the brand's first-ever large format premium offering for the recreational market, driven by high customer demand. The latest releases from Doja include three new 3.5g flower offerings with high potency and flavourful aroma: Doja OG Deluxe, Doja Fresh Biscotti, and Doja Okanagan Grown Blackberry Cream.

"Cannabis connoisseurs know what they want: premium products that over-deliver on aroma and flavour, while still hitting the THC mark," said Julian Cohen, Chief Innovation Officer at Canopy Growth. "Our focus on innovation allows us to give consumers the enhanced quality attributes and range of products they're looking for. As Canadians from coast-to-coast prepare for the long weekend, we're excited to offer them new premium options to enjoy at home or at their favourite summer destination."

Canopy Growth's new premium flower offerings will arrive in retail cannabis locations and on eCommerce sites across Canada throughout the summer, with select products available in certain regions and for a limited time only. A full product list with descriptions can be found below.

7ACRES Platinum Kush Breath 3.5g: 7ACRES Platinum Kush Breath is a high THC, high terpene indica-dominant hybrid with a beautiful dense bud structure and abundant trichome coverage. This cultivar exhibits a flavourful and complex aromatic profile of sweet lemon, fruity berry, funky earth, and a hint of black pepper.
7ACRES Papaya Bubble Hash Infused Pre-Rolled Joints (1g): 7ACRES Papaya Bubble Hash Infused Pre-Rolls are made using an infusion of Papaya bubble hash to deliver a pre-roll with boosted potency and increased flavour for an elevated smoking experience. This infusion emboldens Papaya's tropical flavour profile of exotic fruits and earthy spice.
Doja OG Deluxe 3.5g: Doja OG Deluxe is a high THC hybrid strain bred from a unique lineage of OGKB x Triangle Kush crossed with Triangle Kush x Josh D OG. This cultivar's terpene profile is highlighted by dominant amounts of terpinolene and caryophyllene. This strain emits a fruity, gassy, and spicy aroma profile with heavy OG characteristics.
Doja Fresh Biscotti 3.5g: Doja Fresh Biscotti is an exotic hybrid strain created by crossing Fresh Water Taffy and Biscotti Sundae. This cultivar is known to have a hoppy, citrusy, and peppery aroma, with the dominant terpenes including myrcene and caryophyllene.
Doja Okanagan Grown Blackberry Cream 3.5g (exclusive to British Columbia): Doja Okanagan Grown Blackberry Cream is an exotic indica-dominant cross of Blackberry Kush and Cookies N Cream. This cultivar is known to produce purple-toned buds with amber pistils. This high-THC cultivar features a sweet, blackberry and creamy aroma profile.

About Canopy Growth

Canopy Growth (TSX: WEED) (NASDAQ: CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, Canopy Growth offers product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Canopy Growth's global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through Canopy Growth's award-winning Tweed and Tokyo Smoke banners, Canopy Growth reaches its adult-use consumers and has built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada, the United States, and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional hemp derived CBD products to the United States through its First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands.

Notice Regarding Forward-Looking Information

This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable U.S. and Canadian securities laws (collectively, "forward-looking statements"), which involve certain known and unknown risks and uncertainties. Forward-looking statements predict or describe our future operations, business plans, business and investment strategies and the performance of our investments. These forward-looking statements are generally identified by their use of such terms and phrases as "intend," "goal," "strategy," "estimate," "expect," "project," "projections," "forecasts," "plans," "seeks," "anticipates," "potential," "proposed," "will," "should," "could," "would," "may," "likely," "designed to," "foreseeable future," "believe," "scheduled" and other similar expressions. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, financial results, results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. A discussion of some of the material factors applicable to Canopy Growth Corporation ("Canopy") can be found under the section entitled "Risk Factors" in Canopy's Annual Report on Form 10-K for the year ended March 31, 2022, filed with the Securities and Exchange Commission and with applicable Canadian securities regulators, as such factors may be further updated from time to time in its periodic filings with the Securities and Exchange Commission and with applicable Canadian securities regulators, which can be accessed at www.sec.gov/edgar and www.sedar.com, respectively. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the filings. Any forward-looking statement included in this press release is made as of the date of this press release and, except as required by law, Canopy disclaims any obligation to update or revise any forward-looking statement. Readers are cautioned not to put undue reliance on any forward-looking statement. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

1 CGC Internal Data, 2021 Canada Shopper Journey