Canopy Growth Corporation's (TSX:WEED) (NASDAQ:CGC)shareholders approved the creation of a new class of exchangeable shares of the companyduring their special meeting on Friday, April 12, as recommended earlier by Institutional Shareholder Services (ISS).

What Happened

At the meeting, shareholders passed a special resolution authorizing an amendment to the company's articles of incorporation to create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth.

The exchangeable shares will not carry voting rights or rights to receive dividends or other...