Canopy Growth (TSE:WEED) has released an update.
Canopy Growth Corporation has strengthened its balance sheet by converting Greenstar’s promissory note into non-voting exchangeable shares, eliminating short-term debt and reducing its overall debt by C$100 million. This move is part of a broader strategy for Canopy USA’s growth, including upcoming acquisitions. Concurrently, Canopy’s governance structure has been updated as Constellation Brands’ subsidiaries no longer hold any common shares or nominate directors to Canopy’s board.
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