<SEC-DOCUMENT>0001279569-20-000236.txt : 20200302
<SEC-HEADER>0001279569-20-000236.hdr.sgml : 20200302
<ACCEPTANCE-DATETIME>20200302140002
ACCESSION NUMBER:		0001279569-20-000236
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200214
FILED AS OF DATE:		20200302
DATE AS OF CHANGE:		20200302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Canopy Growth Corp
		CENTRAL INDEX KEY:			0001737927
		STANDARD INDUSTRIAL CLASSIFICATION:	MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38496
		FILM NUMBER:		20675987

	BUSINESS ADDRESS:	
		STREET 1:		1 HERSHEY DRIVE
		CITY:			SMITH FALLS
		STATE:			A6
		ZIP:			K7A0A8
		BUSINESS PHONE:		855-558-9333

	MAIL ADDRESS:	
		STREET 1:		1 HERSHEY DRIVE
		CITY:			SMITH FALLS
		STATE:			A6
		ZIP:			K7A0A8
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>canopy6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 4pt 0 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 4pt 0 0; text-align: center"></P>

<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 4pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 4pt 0 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>



<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 6-K</B></P>



<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT
OF 1934</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">For the month of February
2020.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">Commission File Number 001-38496</P>



<P STYLE="font: 20pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 20pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Canopy Growth Corporation</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of registrant&rsquo;s name
into English)&nbsp;</P>

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<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1 Hershey Drive</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Smiths Falls, Ontario</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>K7A 0A8</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive office)</P>

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<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>



<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 12pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-For Form 40-F:</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Form 20-F </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Form 40-F </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 12pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Note</B>: Regulation S-T Rule 101(b)(1) only permits
the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 12pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Note</B>: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized
(the registrant&rsquo;s &ldquo;home country&rdquo;), or under the rules of the home country exchange on which the registrant&rsquo;s
securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed
to the registrant&rsquo;s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission
or other Commission filing on EDGAR.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit Index</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 86%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">
        <P STYLE="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>&nbsp;&nbsp;&nbsp;&nbsp;Exhibit&nbsp;No.&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
    <TD STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">
        <P STYLE="font: 8pt/normal Times New Roman, Times, Serif; margin-top: 0; border-bottom: black 1pt solid; margin-bottom: 0; text-align: center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Description&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex991.htm">Ex. 99.1</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex991.htm">News
    Release dated February 14, 2020 - Canopy Growth Reports Third Quarter Fiscal 2020 Financial Results</A> </FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 8pt">Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; border-collapse: collapse">
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; font: 11pt/107% Calibri, Helvetica, Sans-Serif; padding-right: 2.8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; font: 11pt/107% Calibri, Helvetica, Sans-Serif; padding-right: 2.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CANOPY GROWTH CORPORATION</B></FONT></TD>
    <TD STYLE="padding-bottom: 8pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 11%; padding-right: 0.8pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 0.8pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 77%">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; border-bottom: black 0.75pt solid">/s/ Phil Shaer</P></TD>
    <TD STYLE="padding-bottom: 8pt; width: 11%; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 11pt/107% Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">Phil Shaer</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">Chief Legal Officer</P></TD>
    <TD STYLE="padding-bottom: 8pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">Dated: February 14, 2020</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED FEBRUARY 14, 2020
<TEXT>
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: bold 24pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Canopy Growth Reports Third Quarter Fiscal
2020 Financial Results</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; text-align: center; margin-right: 0; margin-left: 0"><B>Generated $124 million
Net Revenue, up from $76 million in Q2 2020<BR>
Excluding portfolio restructuring charges in Q2 2020, Net Revenue up 13%<BR>
Achieved Gross Margin of 34%<BR>
Total Operating Expenses down 14% versus the prior quarter<BR>
Adjusted EBITDA loss decreases to $92 million</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">SMITHS FALLS, ON, Feb. 14, 2020 /CNW/ -&nbsp;Canopy
Growth Corporation (&quot;Canopy Growth&quot; or the &quot;Company&quot;) (TSX: WEED) (NYSE: CGC) today announced its financial
results for the third quarter ended December 31, 2019.&nbsp; All financial information in this press release is reported in millions
of Canadian dollars, unless otherwise indicated.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Third Quarter Fiscal 2020 Financial Summary</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Gross revenue<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net revenue</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Gross margin<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjusted EBITDA<SUP>3</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Free cash flow<SUP>4</SUP></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Reported</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$135.6</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$123.8</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">34%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(91.7)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(359.6)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% change vs. Q2 2020</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">62%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">NM</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">41%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">16%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">% change vs. Q3 2019</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">39%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">49%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">800 bps</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-23%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-20%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>1</SUP>&nbsp;Excludes the impact of other revenue adjustments in Q2 2020, which represent the Company's determination of returns and pricing adjustments.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>2</SUP>&nbsp;Gross margin is before fair value impacts in cost of sale, and is a non-IFRS measure. See &quot;Non-IFRS Measures&quot; below.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>3</SUP>&nbsp;Adjusted EBITDA is a non-IFRS measure. See &quot;Non-IFRS Measures&quot; below.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>4 </SUP>Free cash flow is defined as operating cash flow less capital expenditures, and is a non-IFRS measure. See &quot;Non-IFRS Measures&quot; below.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Third Quarter Fiscal 2020 Corporate Financial
Highlights</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt"><B>Revenues</B>: Reported Net Revenues increased 62% over
Q2 2020, or 13% excluding the impact of portfolio restructuring charges. Gross Recreational B2B revenue increased 8% over prior
quarter due, in part, to over 140 stores becoming active in the quarter and higher sales of premium dried flower and pre-roll joints.
Our acquired businesses including Storz &amp; Bickel and This Works also performed well, contributing to organic growth this quarter.</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt"><B>Gross margin</B>: Gross margin before fair value impacts
was 34%. Gross margin performance in quarter benefited from lower period costs due to higher facility utilization</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt"><B>Operating expenses</B>: Total operating expenses decreased
14% versus Q2 2020 primarily due to a $20 million reduction in G&amp;A expenses and over $31 million lower stock-based compensation
versus the prior quarter</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt"><B>Adjusted EBITDA</B>: Adjusted EBITDA loss of $92 million,
a $64 million narrower loss versus Q2 2020 driven by higher sales, improved gross margins and lower operating expenses</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt"><B>Cash Position</B>: Gross cash balance was $2.3 billion,
down from $2.7 billion in Q2 2020, reflecting the EBITDA loss, capital investments and M&amp;A</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Third Quarter Fiscal 2020 Business &amp;
Operational Highlights</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Maintained leading market share in retail, at an estimated
22%, of the Canadian recreation market as we saw a strong demand for both premium and value priced dried flower and pre-rolled
joints</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Continued market share gains and increase in the number
of patients, to over 76,700, in the Canadian medical cannabis market</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Named David Klein as new Chief Executive Officer</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Completed first shipments of cannabis-infused edible chocolates
and JUJU Power 510 batteries in December 2019</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Storz &amp; Bickel expanded product line with launch of
Crafty+ vaporizer in November 2019</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Announced initial line of First &amp; Free Hemp-derived
CBD products and began sales online through www.firstandfree.com, one quarter ahead of Q4 2020 target</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;In Q3 we executed across Canada, in our
international markets and in our strategic acquisitions to drive revenue growth,&quot; said David Klein, CEO. &quot;We have a lot
of work to do.&nbsp; We are eager to capitalize on the opportunity to create an unassailable position through a tight focus on
the consumer and on critical markets.&quot;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;We delivered significant gross improvement
in the third quarter driven by stronger revenues and higher capacity utilization. Actions taken earlier this year are expected
to meaningfully reduce stock-based compensation in FY21, and we have started to implement tighter cost controls across the organization,&quot;
said Mike Lee, EVP &amp; CFO. &quot;We plan to take further steps to reduce our costs and right-size our business to ensure that
we can generate a healthy margin profile and cash generation in the coming years.&quot;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Third Quarter Fiscal 2020 Financial and Operational Review</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="6">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q3</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q2</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>%</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Change</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q3</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2019</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>%</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Change</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Canadian recreational cannabis</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">- Business to business<SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$53.5</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$49.4</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8%</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$60.1</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-11%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">- Business to consumer</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$15.2</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$13.1</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">16%</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$11.5</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">32%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Canadian medical cannabis</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$14.8</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$14.1</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$15.9</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-7%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Canadian cannabis</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$83.5</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$76.6</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>9%</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$87.5</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-5%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">International medical cannabis</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$18.7</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$18.1</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$2.7</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">593%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Cannabis gross revenue excluding other revenue adjustments</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$102.2</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$94.7</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>8%</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$90.2</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>13%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other revenue</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$33.4</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$23.6</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">42%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$7.5</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">345%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Gross revenue excluding other revenue adjustments</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$135.6</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$118.3</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>15%</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$97.7</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>39%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other revenue adjustments<SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$-</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$32.7</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-100%</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$-</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">NM</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Excise taxes<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$11.8</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$9.0</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">31%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$14.7</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-20%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net revenue</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$123.8</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$76.6</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>62%</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$83.0</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>49%</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>1 </SUP>Excludes the impact of other revenue adjustments.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>2</SUP>&nbsp;Other revenue adjustments represent the Company's determination of returns and pricing adjustments.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>3</SUP>&nbsp;Excise taxes is presented net of the impact from other revenue adjustments.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Canadian Cannabis </B>&nbsp;</P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Recreational B2B sales increased 8% over Q2 2020, due to
over 140 stores becoming active in the quarter and higher sales of premium dried flower and pre-roll joints</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Recreational B2C sales increased 16% over prior quarter,
due in part to an 11% increase in same store sales</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Medical sales increased 5% over the prior quarter primarily
attributable to the broadening of our brand and product offerings, including the availability of products from additional CraftGrow
partners, as well as an increase in number of customers to over 76,700.</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>International Cannabis</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">C3 revenue increased 5% over Q2 2020</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Germany cannabis sales higher than expected due to opportunistic
sales into the German market to fill a supply gap that resulted from a regulatory enforced sales halt of cannabis products offered
by another vendor</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Strategic Acquisitions</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">Storz &amp; Bickel vaporizer revenue increased 46% over
Q2 2020 due to solid organic growth and seasonal sales</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">This Works revenue increased 42% over prior quarter due
to strong organic growth</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Third Quarter Fiscal 2020 Cannabis Product Revenue Highlights</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q3</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q2</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>%</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Change</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q3</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2019</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>%</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Change</B></P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Canadian recreational - Business to business</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Dry cannabis</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$55.8</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$47.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">18%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$39.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">42%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cannabis oil and softgels excluding other revenue adjustments</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$3.0</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$2.0</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">50%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$20.8</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-86%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other revenue adjustments<SUP>1</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(5.3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(32.7)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-84%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">NM</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$53.5</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$16.7</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>220%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$60.1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-11%</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Canadian recreational - Business to consumer</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Dry cannabis</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$13.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$11.6</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">16%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$10.9</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cannabis oil and softgels</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1.7</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$0.6</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">183%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$15.2</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$13.1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>16%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$11.5</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>32%</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Canadian medical</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Dry cannabis</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$5.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$5.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-4%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$8.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-35%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cannabis oil and softgels</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$9.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$8.6</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$7.8</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">22%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$14.8</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$14.1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>5%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$15.9</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-7%</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>International medical</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Dry cannabis</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$3.9</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-5%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$2.7</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">44%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cannabis oil and softgels</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$14.8</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$14.0</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">NM</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$18.7</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$18.1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$2.7</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>593%</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>1</SUP>&nbsp;Other revenue adjustments represent the Company's determination of returns and pricing adjustments.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Third Quarter Fiscal 2020 Adjusted EBITDA </B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q3</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q2</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>%</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Change</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Q3</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2019</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>%</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Change</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjusted EBITDA<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(91.7)</B></FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(155.7)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>41%</B></FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(74.8)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-23%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Attributed as follows:</FONT></TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">- Operations and corporate overhead</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(44.4)</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(109.0)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">59%</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(52.8)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">16%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">- Strategic investments and business development</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(39.1)</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(36.2)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-8%</FONT></TD>
    <TD STYLE="padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(8.9)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-339%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-size: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">- Non-operating or under-utilized facilities</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(8.2)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(10.5)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">22%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(13.1)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">37%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7.5pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>1</SUP>&nbsp;Adjusted EBITDA is a non-IFRS measure. See &quot;Non-IFRS Measures&quot; below.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Non-IFRS Measures</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Gross margin percentage, before fair value
impacts in cost of sales, a non-IFRS measure, is a key operational metric that does not have any standardized meaning prescribed
by IFRS and may not be comparable to similar measures presented by other companies.&nbsp; This measure is calculated as net revenue
less inventory production costs expensed to cost of sales, divided by net revenue, and may be computed from the consolidated statements
of operations presented within this news release.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Adjusted EBITDA, a non-IFRS measure, is a key
operational metric that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures
presented by other companies. Adjusted EBITDA is calculated as earnings before interest, tax, depreciation and amortization, share-based
compensation expense, fair value changes and other non-cash items, and further adjusted to remove acquisition-related costs. The
Company attributes Adjusted EBITDA to its operations and corporate overhead, strategic investments and business developments, and
non-operating or under-utilized facilities. The Adjusted EBITDA reconciliation is presented within this news release and explained
in Management's Discussion &amp; Analysis under &quot;Adjusted EBITDA (Non-IFRS Measure)&quot;, a copy of which will be filed on
SEDAR.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Free Cash Flow, a non-IFRS measure, is a key
operational metric that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures
presented by other companies.&nbsp; This measure is calculated as net cash provided by (used in) operating activities less purchases
and deposits of property, plant and equipment.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Transition to U.S. GAAP Reporting</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">As part of our U.S. financial reporting requirements,
Canopy Growth confirmed that, as of September 30, 2019, it no longer met the criteria for qualification as a foreign private issuer
because (1) more than 50% of the outstanding voting securities are held by residents of the United States, and (2) the majority
of Canopy Growth's directors are United States citizens.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Therefore, as of April 1, 2020 Canopy Growth
will be considered a United States domestic issuer and a large accelerated filer. As a result of this change, as of April 1, 2020,
Canopy Growth will be required to prepare its consolidated financial statements, including the Company's March 31, 2020 audited
annual consolidated financial statements, in conformity with United States generally accounting principles, with such change being
applied retrospectively. The extent of the impact of this change in accounting framework has not yet been quantified. Canopy Growth
will also be required to provide an auditor attestation report under Section 404(b) of the Sarbanes-Oxley Act.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">This press release is intended to be read in
conjunction with the Company's Unaudited Condensed Interim Consolidated Financial Statements (&quot;Financial Statements) and Management
Discussion &amp; Analysis (&quot;MD&amp;A) for the three and nine months ended December 31, 2019, which will be filed on SEDAR
(www.sedar.com) and will be available at www.canopygrowth.com.&nbsp;The basis of financial reporting in the Financial Statements
and MD&amp;A is in thousands of Canadian dollars, unless otherwise indicated.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Webcast and Conference Call Information</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Company will host a conference call and
audio webcast with David Klein, CEO and Mike Lee, CFO at 10:00 AM Eastern Time on February 14, 2020.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Webcast Information<BR>
</U>A live audio webcast will be available at:<BR>
https://event.on24.com/wcc/r/2171215/8311836AC24F7988B042B4BB0FA5622A</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><U>Replay Information<BR>
</U>A replay of the call will be accessible by webcast, until 11:59 PM ET on May 14, 2020, at<BR>
https://event.on24.com/wcc/r/2171215/8311836AC24F7988B042B4BB0FA5622A</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>About Canopy Growth Corporation<BR>
</B>Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct
brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through the Company's
subsidiary, Storz &amp; Bickel GMbH &amp; 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.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Company's medical division, Spectrum Therapeutics
is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding
of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics
sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol
under the brand Bionorica Ethics.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Company operates retail stores across Canada
under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and
loyal following by focusing on quality products and meaningful customer relationships.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">From our historic public listing on the Toronto
Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through
leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including
cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation
Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 5.2 million square feet of
production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Notice Regarding Forward Looking Statements<BR>
</B>This news release contains &quot;forward-looking statements&quot; within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and &quot;forward-looking information&quot; within the meaning of applicable Canadian securities
legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as &quot;plans&quot;,
&quot;expects&quot; or &quot;does not expect&quot;, &quot;is expected&quot;, &quot;estimates&quot;, &quot;intends&quot;, &quot;anticipates&quot;
or &quot;does not anticipate&quot;, or &quot;believes&quot;, or variations of such words and phrases or state that certain actions,
events or results &quot;may&quot;, &quot;could&quot;, &quot;would&quot;, &quot;might&quot; or &quot;will&quot; be taken, occur
or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from
any future results, performance or achievements expressed or implied by the forward-looking statements or information contained
in this news release. Examples of such statements include statements with respect to the Company's expectations with respect to
future harvests, the Company's expectation for additional finished inventory available for sale in future quarters, bringing CBD
products to market by the end of fiscal 2020, the accelerated market expansion for Acreage, the anticipated benefits of the rebranding
of Spectrum Therapeutics on the Company's market share, the potential opportunity for cannabis products in Europe and the anticipated
Increase in Canadian and Danish product availability, the anticipated increased sales from Storz &amp; Bickel, the expectation
that facilities will be fully operational in the months ahead, the launch of new CBD consumer products and brands in fiscal 2020,
the timing for implementation of the transaction with Acreage. Risks, uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed
or implied by such forward-looking information, including changes in laws, regulations and guidelines; compliance with laws; international
laws; operational, regulatory and other risks; execution of business strategy; management of growth; difficulty to forecast; reliance
on licences; risks inherent in an agricultural business; contracts with provincial and territorial governments; constraints on
marketing products; risks inherent in acquisitions and investments; expansion into foreign jurisdictions; governmental regulations;
cannabis is a controlled substance in the United States; Farm Bill risks; assumptions as to the ability of the parties to receive,
in a timely manner and on satisfactory terms, the necessary regulatory and court approvals for the transaction with Acreage; and
such risks contained in the Company's management information circular of the Company dated May 17, 2019 and in the annual information
form dated June 24, 2019 and filed with Canadian securities regulators and available on the Company's issuer profile on SEDAR at
www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are
reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in
the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release
are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking
information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable
securities laws.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="border-bottom: black 2.25pt double; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>CANOPY GROWTH CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">UNAUDITED</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>December 31,</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">March 31,</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Expressed in CDN $000's)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 9.95pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Current assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,561,664</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,480,830</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Marketable securities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>705,921</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,034,133</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Amounts receivable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>108,822</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">106,974</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Biological assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>59,107</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">78,975</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>622,575</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">262,105</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Prepaid expenses and other current assets</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>114,637</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">107,123</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3,172,726</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5,070,140</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Investments in equity method investees</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>123,077</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">112,385</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other financial assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>351,952</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">363,427</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Property, plant and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,725,333</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,096,340</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Intangible assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>567,185</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">519,556</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Goodwill</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,068,696</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,544,055</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other long-term assets</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>37,073</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25,902</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>8,046,042</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8,731,805</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Current liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Accounts payable and accrued liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>225,181</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">226,533</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Current portion of long-term debt</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>21,652</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">103,716</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other current liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>171,476</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">81,414</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>418,309</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">411,663</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Long-term debt</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>536,107</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">842,259</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Deferred tax liability</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>65,733</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">96,031</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share repurchase credit liability</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,301,322</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other long-term liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>194,737</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">140,404</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,516,208</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,490,357</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Shareholders' equity</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share capital</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6,359,643</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6,026,618</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other reserves</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,768,725</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,673,472</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Accumulated other comprehensive income</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(45,904)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">28,630</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Deficit</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,826,095)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(777,087)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Equity attributable to Canopy Growth Corporation</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>5,256,369</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6,951,633</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Non-controlling interests</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>273,465</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">289,815</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total equity</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>5,529,834</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7,241,448</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>8,046,042</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">8,731,805</FONT></TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="9">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="border-bottom: black 2.25pt double; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>CANOPY GROWTH CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>FOR THE THREE AND NINE MONTHS ENDED DECEMBER 31, 2019 AND 2018</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">UNAUDITED</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Three months ended</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Nine months ended</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>December 31,</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">December 31,</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>December 31,</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">December 31,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Expressed&nbsp;in&nbsp;CDN&nbsp;$000's&nbsp;except&nbsp;share&nbsp;amounts)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2018</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2018</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>(Restated - see note 2(d))</I></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>(Restated - see note 2(d))</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$135,546</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$97,703</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$324,558</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$146,946</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Excise taxes</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>11,782</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14,655</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>33,699</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">14,655</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net revenue</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>123,764</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">83,048</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>290,859</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">132,291</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Inventory production costs expensed to cost of sales</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>81,953</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">61,329</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>241,456</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">90,358</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Gross margin before the undernoted</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>41,811</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">21,719</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>49,403</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">41,933</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fair value changes in biological assets included in inventory sold and other charges</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>60,546</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">28,105</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>175,765</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">105,989</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized gain on changes in fair value of biological assets</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(78,964)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(22,267)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(300,303)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(90,500)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Gross margin</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>60,229</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15,881</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>173,941</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">26,444</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Sales and marketing</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>62,104</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">48,324</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>171,814</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">107,199</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Research and development</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>20,795</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5,264</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>41,191</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7,964</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">General and administration</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>67,385</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">46,088</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>217,517</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">102,777</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Acquisition-related costs</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3,256</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,520</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>19,000</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9,606</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share-based compensation expense</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>56,763</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">40,062</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>217,611</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">108,159</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share-based compensation expense related to acquisition milestones</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>4,916</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">23,849</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>24,311</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">81,674</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>16,530</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5,015</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>42,953</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">11,640</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Operating expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>231,749</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">173,122</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>734,397</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">429,019</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Loss from operations</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(171,520)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(157,241)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(560,456)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(402,575)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss on extinguishment of warrants</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,176,350)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other income (expense), net</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>24,903</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">233,142</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(51,759)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">54,445</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Total other income (expense), net</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>24,903</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">233,142</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,228,109)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">54,445</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(Loss) income before income taxes</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(146,617)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">75,901</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,788,565)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(348,130)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Income tax recovery (expense)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>22,451</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1,041)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>8,611</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,398</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net (loss) income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(124,166)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$74,860</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(1,779,954)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(346,732)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net (loss) income attributable to:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Canopy Growth Corporation</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(120,969)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$67,582</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(1,778,208)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(349,831)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Non-controlling interests</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,197)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7,278</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,746)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,099</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(124,166)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$74,860</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(1,779,954)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(346,732)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(Loss) earnings per share, basic</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net (loss) income per share, basic:</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(0.35)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$0.22</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(5.13)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(1.45)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Weighted average number of outstanding common shares:</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>348,530,622</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">303,281,549</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>346,877,660</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">241,806,351</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Loss per share, diluted</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net loss per share, diluted:</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(0.35)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(0.38)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$(5.13)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$(1.45)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Weighted average number of outstanding common shares, diluted:</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>348,530,622</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">315,974,639</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>346,877,660</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">242,044,821</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="5">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="5" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>CANOPY GROWTH CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS &nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>FOR THE NINE MONTHS ENDED DECEMBER 31, 2019 AND 2018</B> &nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">UNAUDITED &nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>December 31,</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">December 31,</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Expressed in CDN $000's) &nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2018</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net inflow (outflow) of cash related to the following activities:</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Operating</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net loss</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,779,954)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(346,732)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Adjustments for:</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation of property, plant and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>57,926</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15,703</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Amortization of intangible assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>26,680</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7,869</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share of loss on equity investments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>6,668</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9,021</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fair value changes in biological assets included in inventory sold and other charges</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>175,765</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">105,989</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized gain on changes in fair value of biological assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(300,303)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(90,500)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share-based compensation</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>241,922</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">194,686</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(16,908)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss on extinguishment of warrants</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,176,350</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other income and expense</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>93,162</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(44,476)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Income tax recovery</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(8,611)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1,398)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Non-cash foreign currency</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,945)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,394</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Changes in non-cash operating working capital items</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(233,918)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(129,547)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net cash used in operating activities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(548,258)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(294,899)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Investing</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Purchases and deposits of property, plant and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(610,858)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(495,236)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Purchases of intangible assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(7,800)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(40,140)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Redemption (purchase) of marketable securities, net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,324,682</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(802,247)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Investments in equity method investees</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(4,719)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(27,201)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Investments in other financial assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(46,647)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(74,071)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Premium paid for Acreage Call Option</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(395,190)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net cash outflow on acquisition of non-controlling interests</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1,996)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net cash outflow on acquisition of subsidiaries</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(511,080)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(344,472)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Payment of acquisition related liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(29,837)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net cash used in investing activities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(281,449)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(1,785,363)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Financing</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Payment of share issue costs</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(245)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(18,617)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Proceeds from issuance of common shares and warrants</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5,072,500</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Proceeds from issuance of shares by Canopy Rivers</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,062</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">91,218</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Proceeds from exercise of stock options</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>39,149</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">28,730</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Proceeds from exercise of warrants</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>446</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">18,684</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Issuance of long-term debt</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>10,268</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">600,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Payment of long-term debt issue costs</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(16,380)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Payment of interest on long-term debt</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(13,738)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 15pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Repayment of lease obligations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(9,331)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(2,728)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 15pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Repayment of long-term debt</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(112,705)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(3,499)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Net cash (used) provided by financing activities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(85,094)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5,769,908</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Effect of exchange rate changes on cash and cash equivalents</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(4,365)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">103,664</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net cash (outflow) inflow</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(919,166)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,793,310</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Cash and cash equivalents, beginning of period</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2,480,830</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">322,560</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Cash and cash equivalents, end of period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1,561,664</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,115,870</FONT></TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjusted EBITDA<SUP>1</SUP> Non-IFRS Measure</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Three months ended</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(In CDN$000's)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>December 31,</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2019</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">December 31,</P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">2018</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><U>Adjusted EBITDA<SUP>1</SUP> Reconciliation</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Loss from operations - as reported</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(171,520)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(157,241)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>IFRS fair value accounting related to biological assets and inventory</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fair value changes in biological assets included in inventory sold and other charges</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>60,546</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">28,105</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized gain on changes in fair value of biological assets</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(78,964)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(22,267)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(18,418)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5,838</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share-based compensation expense (per statements of cash flows)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>61,679</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">64,179</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Acquisition-related costs</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3,256</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,520</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization (per statements of cash flows)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>33,342</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">7,890</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>98,277</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">76,589</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjusted EBITDA</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(91,661)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(74,814)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Nine months ended</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(In CDN$000's)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>December 31,</B></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>2019</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">December 31,</P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">2018</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><U>Adjusted EBITDA<SUP>1</SUP> Reconciliation</U></B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Loss from operations - as reported</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(560,456)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(402,575)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>IFRS fair value accounting related to biological assets and inventory</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fair value changes in biological assets included in inventory sold and other charges</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>175,765</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">105,989</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Unrealized gain on changes in fair value of biological assets</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(300,303)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(90,500)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(124,538)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15,489</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Share-based compensation expense (per statements of cash flows)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>241,922</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">194,686</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Acquisition-related costs</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>19,000</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">9,606</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization (per statements of cash flows)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>84,606</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">23,572</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>345,528</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">227,864</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjusted EBITDA</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>(339,466)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(159,222)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 7.5pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>1</SUP>&nbsp;Adjusted EBITDA is earnings before interest, tax, depreciation and amortization, share-based compensation expense, fair value changes and other non-cash items, and further adjusted to remove acquisition-related costs.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content to download multimedia:http://www.prnewswire.com/news-releases/canopy-growth-reports-third-quarter-fiscal-2020-financial-results-301005041.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">SOURCE Canopy Growth Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2020/14/c6738.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">%CIK: 0001737927</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For further information: </B>Kyna Boyce, Media Relations, media@canopygrowth.com,
613-485-2480; Judy Hong, Vice President, Investor Relations (USA), Judy.hong@canopygrowth.com; Tyler Burns, Vice President, Investor
Relations (Canada), Tyler.burns@canopygrowth.com, 855-558-9333 ext. 122</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CO: Canopy Growth Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CNW 06:00e 14-FEB-20</P>



<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: bold 24pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"></p>



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