Canopy Growth Corp (WEED)

[nowwhat2]

Clear as mud ?

Just LOVE this kind of stock arrangement (when everything's clear as mud).......

SMITHS FALLS, ON and NEW YORK, NY, Sept. 23, 2020 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth") (TSX: WEED) (NYSE: CGC) and Acreage Holdings, Inc. ("Acreage") (CSE:ACRG.A.U, ACRG.B.U) (together, the "Companies") are pleased to announce the implementation of Acreage's previously announced amended arrangement under section 288 of the Business Corporations Act (British Columbia) with Canopy Growth (the "Amended Arrangement").
Pursuant to the Amended Arrangement, Acreage's articles have been amended to create new Class E subordinate voting shares (the "Fixed Shares"), Class D subordinate voting shares (the "Floating Shares") and Class F multiple voting shares (the "Fixed Multiple Shares"). Each existing Class A subordinate voting share of Acreage (each, a "Subordinate Voting Share") has been exchanged for 0.7 of a Fixed Share and 0.3 ?of a Floating Share, each existing ?Class B proportionate voting share (each, a "Proportionate Voting Share") has been exchanged for 28 Fixed Shares and 12 Floating Shares and each existing Class C multiple share (each, a "Multiple Voting Share") has been exchanged for 0.7 of a Fixed Multiple Share and 0.3 of a Floating Share.

"Thank you to the Acreage shareholders for voting in favour of this amended arrangement and for believing in the potential Canopy Growth can bring to their investment," shared David Klein, Canopy Growth CEO. "We are encouraged by Acreage's recent actions to improve the focus and financial performance of its business and begin building our brands in the U.S., through the introduction of the Tweed brand in several U.S. states. The amended arrangement provides Canopy the most efficient entryway into the U.S., once federally permissible, and we believe will continue to benefit shareholders of both companies over the long-term."

The Fixed Shares and Floating Shares will begin trading on the Canadian Securities Exchange (the "CSE") under the ticker symbol ACRG.A.U and ACRG.B.U, respectively, as of the opening of markets today

"With today's announcement, we look forward to continuing to build on our momentum to accelerate our pathway to profitability," said Bill Van Faasen, Interim CEO of Acreage Holdings. "Canopy's Tweed branded flower has been a success since our launch late last year, and we will continue to expand to new markets and introduce new products and form factors. We are also excited to develop our hemp division to meet consumer needs in what is expected to be a $10 billion market opportunity."

Best wishes in year 2021