On April 12, 2024, Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, held a Special Meeting where shareholders approved a special resolution to amend the company's Articles of Incorporation. This amendment authorizes the creation and issuance of an unlimited number of non-voting, non-participating exchangeable shares, and restates the rights of common shares to include a conversion feature. The Articles of Amendment were filed on the same day. A total of 32,250,578 common shares were represented at the meeting, with 95.56% voting in favor of the resolution. The approval enables Canopy Growth to accelerate its entry into the U.S. THC market, which is expected to be worth approximately $50 billion by 2026. The company plans to exercise rights...Show More

On April 12, 2024, Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, held a Special Meeting where shareholders approved a special resolution to amend the company's Articles of Incorporation. This amendment authorizes the creation and issuance of an unlimited number of non-voting, non-participating exchangeable shares, and restates the rights of common shares to include a conversion feature. The Articles of Amendment were filed on the same day. A total of 32,250,578 common shares were represented at the meeting, with 95.56% voting in favor of the resolution. The approval enables Canopy Growth to accelerate its entry into the U.S. THC market, which is expected to be worth approximately $50 billion by 2026. The company plans to exercise rights to acquire U.S. assets in Wana, Jetty, and Acreage, with financial performance expected to be highlighted to shareholders later in the year. The press release issued on April 15, 2024, also mentions optimism for cannabis to be reclassified to Schedule III, which would enhance cash flow for the acquired companies by removing certain tax restrictions. Canopy Growth's strategy includes the creation of a U.S.-domiciled holding company, Canopy USA, LLC, which will hold the company's U.S. cannabis investments and is expected to lead to revenue and cost synergies.