Canopy Growth Announces Effective Date of Share Consolidation
SMITHS FALLS, ON, Dec. 13, 2023 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (Nasdaq: CGC) announced today that the Company's board of directors has approved the consolidation (the "Consolidation") of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares.
- SMITHS FALLS, ON, Dec. 13, 2023 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (Nasdaq: CGC) announced today that the Company's board of directors has approved the consolidation (the "Consolidation") of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares.
- The Consolidation was approved by the Company's shareholders at the annual general and special meeting of shareholders held on September 25, 2023.
- "By implementing this share consolidation, Canopy Growth expects to regain compliance with the Nasdaq's bid requirement and further support the marketability of the Company's shares," said Judy Hong, Chief Financial Officer, Canopy Growth.
- Shareholders of record as of the Effective Date will receive a letter of transmittal from Odyssey Trust Company, the transfer agent for the Common Shares, providing instructions for the exchange of their Common Shares as soon as practicable following the Effective Date.