Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, announced the results of its special shareholder meeting held on April 12, 2024. Shareholders approved the creation of a new class of non-voting and non-participating exchangeable shares, which are convertible into common shares. This strategic move is part of Canopy Growth's plan to accelerate its entry into the U.S. THC market, which is expected to be approximately $50 billion by 2026. The company filed Articles of Amendment to its Articles of Incorporation to create the exchangeable shares, following the shareholder vote. Canopy Growth's common shares are traded on the Toronto Stock Exchange and the Nasdaq Global Select Market under the symbols 'WEED' and 'CGC' respectively. The...Show More

Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, announced the results of its special shareholder meeting held on April 12, 2024. Shareholders approved the creation of a new class of non-voting and non-participating exchangeable shares, which are convertible into common shares. This strategic move is part of Canopy Growth's plan to accelerate its entry into the U.S. THC market, which is expected to be approximately $50 billion by 2026. The company filed Articles of Amendment to its Articles of Incorporation to create the exchangeable shares, following the shareholder vote. Canopy Growth's common shares are traded on the Toronto Stock Exchange and the Nasdaq Global Select Market under the symbols 'WEED' and 'CGC' respectively. The closing price of Canopy Growth's common shares on Nasdaq on April 15, 2024, was $6.98 per share. The company's strategy includes acquiring U.S. assets in Wana, Jetty, and Acreage, with the acquisitions expected to be completed in fiscal year 2025. The company also highlighted the potential benefits of the strategy, including fast-tracking entry into the U.S. market, establishing a brand-focused powerhouse, and realizing revenue and cost synergies.