Canopy Growth Announces Amendment Proposal To Create, Authorize Issuance Of Unlimited Number Of New Class Of Non-Voting, Non-participating Exchangeable Shares; Under Proposed Conversion Feature, Each Common Share May At Any Time, At Option Of Holder, Be Converted Into One Exchangeable Share
Portfolio Pulse from Benzinga Newsdesk
Canopy Growth Corporation (CGC) announced a special resolution for shareholders to vote on creating an unlimited number of new non-voting, non-participating exchangeable shares. This amendment also includes a conversion feature allowing common shares to be converted into exchangeable shares and vice versa. The vote is scheduled for April 12, 2024. If approved, this will enable shareholders to convert their shares post the effective time of the amendment. Notices of Conversion will be available on the company's website and filed with the SEC and Canadian regulators.
March 11, 2024 | 11:59 am
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Canopy Growth Corporation proposes an amendment for creating unlimited non-voting exchangeable shares, with a shareholder vote scheduled for April 12, 2024. This could impact the stock by potentially increasing flexibility for shareholders and possibly affecting the stock's liquidity and voting power distribution.
The proposal to create unlimited non-voting exchangeable shares and allow conversions between common and exchangeable shares could make the stock more flexible for investors, potentially affecting liquidity. However, the impact on the stock price is uncertain until the vote outcome and market reaction are observed.
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