Canopy Growth announces effective date for 1-for-10 share consolidation

Canopy Growth Corporation announced that the company’s board of directors has approved the consolidation of the company’s issued and outstanding common shares on the basis of one post-consolidation common share for every ten pre-consolidation common shares. The consolidation is being implemented to ensure that the company continues to comply with the listing requirements of the Nasdaq Global Select Market, the company noted. The consolidation was approved by the company’s shareholders at the annual general and special meeting of shareholders held on September 25. The consolidation is subject to approval by the Toronto Stock Exchange and is expected to become effective on December 15 with the post-consolidation common shares commencing trading on the TSX and the Nasdaq at market open on December 20, subject to final confirmation from the TSX and the Nasdaq. “By implementing this share consolidation, Canopy Growth expects to regain compliance with the Nasdaq’s bid requirement and further support the marketability of the company’s shares,” said Judy Hong, Chief Financial Officer, Canopy Growth. It is anticipated that upon completion of the Consolidation, the post-Consolidation Common Shares will continue to trade on the TSX under the symbol “WEED” and on the Nasdaq under the symbol “CGC.”