Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has announced a special meeting of shareholders to be held virtually on April 12, 2024. The purpose of the meeting is to vote on the creation of a new class of non-voting and non-participating exchangeable shares, a move that is pivotal for Canopy Growth's strategy to enter the U.S. THC market, valued at over $50 billion. This follows the company's previous announcement on October 25, 2022, regarding the formation of Canopy USA, LLC, a U.S.-domiciled holding company that holds Canopy Growth's U.S. cannabis investments. The proposed exchangeable shares are expected to facilitate the acquisition of U.S. THC businesses, including Acreage Holdings, Inc...Show More

Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has announced a special meeting of shareholders to be held virtually on April 12, 2024. The purpose of the meeting is to vote on the creation of a new class of non-voting and non-participating exchangeable shares, a move that is pivotal for Canopy Growth's strategy to enter the U.S. THC market, valued at over $50 billion. This follows the company's previous announcement on October 25, 2022, regarding the formation of Canopy USA, LLC, a U.S.-domiciled holding company that holds Canopy Growth's U.S. cannabis investments. The proposed exchangeable shares are expected to facilitate the acquisition of U.S. THC businesses, including Acreage Holdings, Inc., Mountain High Products, LLC, Wana Wellness, LLC, The Cima Group, LLC, and Lemurian, Inc. Canopy Growth anticipates deconsolidating the financial results of Canopy USA and accounting for it as an equity method investment. Shareholders of record as of February 12, 2024, are eligible to vote and have been provided with details on participation and voting in the definitive proxy statement available on the company's website.