Canopy Growth Showcases Power of Brands with Industry Awards

Tweed nominated for Karma Cup and Grow Up Awards; Wana a finalist for Grow Up Award

SMITHS FALLS, ON, Aug. 30, 2023 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (Nasdaq: CGC), a world-leading diversified cannabis company, today announced that two of the Company's brands in the Canadian adult-use market have been recognized as finalists for prestigious industry awards.

Illustrating the impact of an impressive brand evolution, Tweed's Kush Mints has been nominated for a 2023 Karma Cup in the Hybrid Flower category, as it has demonstrated its consumer appeal with Tweed Kush Mints 28g being the fourth best performing flower SKU in Canada in Q1 FY2024¹. Celebrating cannabis innovation, creativity, and quality, the Karma Cup Awards recognized Tweed's Kush Mints for its unique cross between Animal Mints and Bubble Kush. Sourced from a private library and demonstrating Tweed's commitment to flower innovation, Kush Mints boasts a high terpene content near 2.5% -- setting it apart from the competition -- and has driven 73% of the 28g segment's growth nationally in the first three months of 2023.

The Tweed brand is also a finalist for a Grow Up Award in the Brand of the Year category. The Grow Up Awards honor the best cannabis growers, retailers, and suppliers throughout Canada. Tweed was selected as a finalist following a national resurgence which saw the brand rise to the #8 rank within the total flower segment of the Canadian adult-use cannabis market in Q1 FY2024, moving up 19 places year-over-year.

"Tweed has long been a staple in the cannabis landscape, and we have worked hard to restore and enhance its quality and leadership in the category," said Dave Paterson, President, Canada Canopy Growth. "Throughout the brand's evolution, we have focused on the needs of consumers and elevated our quality. These honors are exciting evidence of the progress and power of the Tweed brand."

Further showcasing Canopy Growth's brand momentum across categories, Wana was also honored as a Grow Up Award finalist for Edible of the Year. Wana, North America's #1 edibles company and one of Canada's leading edibles brands, has driven consumer loyalty and industry recognition for its lineup of Wana Classic gummies, as well as Wana Quick gummies. Known for its relentless commitment to hand-crafted recipes and exceptional flavour profiles, Wana has established itself as a trailblazing leader in the edible's space.

"Both Tweed and Wana's recognitions are a testament to the vision and innovation of our hard-working team and Canopy Growth's dedication to creating brands and products that delight customers and enhance their lives," said Paterson. "We are incredibly grateful to the Grow Up Awards and the Karma Cup for recognizing our unwavering commitment to developing a portfolio of cannabis products indicative of a leading North American cannabis company."

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¹ Unless otherwise indicated, market share data disclosed in this press release is calculated using the Company's internal proprietary market share tool that utilizes point of sales data supplied by third-party data providers and government agencies.

The winners for the Karma Cups Awards will be announced on September 18, with Grow Up Awards winner being selected on October 1.

To learn more about the brands or the awards, please visit Tweed, Wana, Karma Cup, Grow Up Awards.

* Terpene amounts may vary on a per lot basis due to the natural variability of cannabis plants.

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.

For more information visit www.canopygrowth.com.

SOURCE Canopy Growth Corporation

Media Contact: Laura Nadeau, Manager, Communications, [email protected]; Investor Contact: Tyler Burns, Director, Investor Relations, [email protected]