Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has announced the approval of a special resolution by its shareholders. The resolution, passed during a Special Meeting on April 12, 2024, authorizes the amendment of the company's Articles of Incorporation to create an unlimited number of non-voting and non-participating exchangeable shares, known as Exchangeable Shares. These shares can be converted into common shares at the holder's option. The move is part of Canopy Growth's strategy to accelerate its entry into the U.S. THC market, which is expected to be worth approximately $50 billion by 2026. The company's common shares are traded on the Toronto Stock Exchange and the Nasdaq Global Select Market under...Show More

Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has announced the approval of a special resolution by its shareholders. The resolution, passed during a Special Meeting on April 12, 2024, authorizes the amendment of the company's Articles of Incorporation to create an unlimited number of non-voting and non-participating exchangeable shares, known as Exchangeable Shares. These shares can be converted into common shares at the holder's option. The move is part of Canopy Growth's strategy to accelerate its entry into the U.S. THC market, which is expected to be worth approximately $50 billion by 2026. The company's common shares are traded on the Toronto Stock Exchange and the Nasdaq Global Select Market under the symbols 'WEED' and 'CGC' respectively. The announcement follows the filing of a Current Report on Form 8-K with the SEC on April 16, 2024, which includes the voting results from the Special Meeting and a press release detailing the company's strategy and expected benefits. Canopy Growth's strategy includes the creation of Canopy USA, LLC, a U.S.-domiciled holding company that will hold the company's U.S. cannabis investments and enable the acquisition of Acreage Holdings, Inc., Wana Brands, and Jetty Extracts. The strategy is expected to position Canopy Growth to capitalize on the U.S. market upon federal permissibility of cannabis.