Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has received a favorable recommendation from Institutional Shareholder Services (ISS) for its shareholders to vote for the creation of exchangeable shares. This recommendation was issued ahead of the special meeting of shareholders scheduled for April 12, 2024. The proposed amendment to the company's articles of incorporation would authorize the issuance of an unlimited number of non-voting exchangeable shares and adjust the rights of the common shares to include a conversion feature. The move is part of Canopy Growth's strategy, announced on October 25, 2022, to accelerate its entry into the U.S. cannabis market by establishing Canopy USA, LLC, a U.S.-domiciled holding company. Canopy USA will...Show More

Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has received a favorable recommendation from Institutional Shareholder Services (ISS) for its shareholders to vote for the creation of exchangeable shares. This recommendation was issued ahead of the special meeting of shareholders scheduled for April 12, 2024. The proposed amendment to the company's articles of incorporation would authorize the issuance of an unlimited number of non-voting exchangeable shares and adjust the rights of the common shares to include a conversion feature. The move is part of Canopy Growth's strategy, announced on October 25, 2022, to accelerate its entry into the U.S. cannabis market by establishing Canopy USA, LLC, a U.S.-domiciled holding company. Canopy USA will hold all U.S. cannabis investments, enabling it to acquire Acreage Holdings, Inc., Mountain High Products, LLC, Wana Wellness, LLC, The Cima Group, LLC, and Lemurian, Inc. Approval of the amendment is expected to position Canopy Growth for profitable growth and a quick start in the U.S. market upon federal legalization of cannabis. Shareholders have been urged to review the definitive proxy statement dated February 12, 2024, for detailed information and to vote by the deadline of April 10, 2024.