Cannabis operator Canopy raises $35 million in upsized private placement

Canadian cannabis company Canopy Growth Corp. on Thursday said it entered into subscription agreements with institutional investors to raise $35 million.

The new financing deal comes only days after the company quietly terminated a previously announced funding agreement.

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Smiths Falls, Ontario-based Canopy called the new round of funding an upsizing, as the previous private placement was for $30 million (40.5 million Canadian dollars).

The new round of financing is offering 8.1 million units at the same $4.29 price per unit as the terminated deal.

The terms of the new offering are the same as the terminated round.

Each unit can be either:

One Canopy share and a warrant to buy one share at $4.83, exercisable for five years immediately after the

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