Canopy Growth Corp (WEED)

[Al 100]

The exchangeable shares will not carry voting rights or rights to receive dividends or other rights upon dissolution of Canopy Growth but will be convertible into shares.

A total of 32,250,578 common shares of Canopy, representing 35.40% of the issued and outstanding shares, were voted in connection with the meeting by the company’s shareholders and proxy holders.

See also: Canopy Growth Enters US Market: What’s Next For The Innovative Cannabis Brand?

Why It Matters
The move enables the acceleration of Canopy Growth’s entry into the U.S. THC market, which is forecasted to reach roughly $50 billion in 2026, the company said on Monday in a press release.

“With this successful shareholder vote complete, our Canopy USA strategy is advancing and is poised to make Canopy the first and only U.S. listed cannabis company offering shareholders unique exposure to the rapid growth of the U.S. cannabis market,” said David Klein, Canopy Growth's CEO who launched Canopy USA in 2022.