Canopy Growth Proposes Exchangeable Shares for U.S. Market Expansion on Heels of New Cannabis Products Launch

Canopy Growth (Nasdaq: CGC), a major cannabis company, has outlined plans to convert into exchangeable shares, following a recommendation from Glass Lewis for shareholders to approve a special resolution. This step is aimed at facilitating the company’s expansion into the U.S. cannabis market via a new entity, Canopy USA, LLC. Shareholders are advised to cast their votes by April 10, 2024, ahead of the special meeting on April 12.

The company recently expanded its product line with the launch of five new pre-roll products from its adult-use cannabis brands 7ACRES and Hiway.

About Canopy Growth:

Canopy Growth is a prominent cannabis and consumer packaged goods company in North America, dedicated to harnessing cannabis’s potential to enhance lives. It offers innovative products through premium cannabis brands like Doja, 7ACRES, Tweed, and Deep Space, along with wellness products by Martha Stewart CBD and vaporizer technology by Storz & Bickel. Canopy Growth is expanding in the U.S. THC market through associations with Acreage Holdings, Wana Brands, and Jetty Extracts, focusing on social equity, responsible use, and community reinvestment to lead the industry forward.