The current share price is sitting at about 32 cents so I'm confused by your 9 cent figure. How it works is this: for every SPRWF share you own you will receive 0.01165872 of a canopy growth share. That is the exchange rate. You'll also receive .0001 cash for every SPRWF share you own. So let's do the math: 1000 shares X 0.01165872 = 11.65872 shares of Canopy plus .0001 x 1000 = 10 cents.