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CGC - Canopy Growth News Story

$19.06 0.8  4.3%

Last Trade - 03/08/20

Sector
Healthcare
Size
Large Cap
Market Cap £5.18bn
Enterprise Value £4.51bn
Revenue £227.8m
Position in Universe 936th / 6366

BRIEF-Canopy Says Acreage Shareholders Will Receive 0.3048 Of Co's Share For Each Fixed Share

Thu 25th June, 2020 12:16pm
June 25 (Reuters) - Canopy Growth Corp  WEED.TO :
    * CANOPY GROWTH & ACREAGE HOLDINGS AGREE TO MODIFY PLAN OF
ARRANGEMENT AS CANOPY GROWTH'S U.S. EXPANSION CONTINUES
    * CANOPY GROWTH CORP - AMENDED ARRANGEMENT CREATES TWO
CLASSES OF
ACREAGE SHARES
    * CANOPY GROWTH CORP - AMENDED ARRANGEMENT PROVIDES FOR
UP-FRONT
CASH PAYMENT TO ACREAGE SHAREHOLDERS
    * CANOPY GROWTH - AMENDED ARRANGEMENT PROVIDES FOR SOME
CONVERTIBLE SECURITY HOLDERS IN AMOUNT OF $37.5 MILLION
    * CANOPY GROWTH - KEVIN MURPHY HAS ANNOUNCED TODAY THAT HE
IS
RESIGNING AS CEO OF ACREAGE
    * CANOPY GROWTH - MURPHY WILL CONTINUE TO ACT AS CHAIRMAN OF
BOARD
OF ACREAGE
    * CANOPY GROWTH - SEARCH FOR KEVIN MURPHY'S SUCCESSOR WILL
COMMENCE IMMEDIATELY
    * CANOPY GROWTH CORP - BILL VAN FAASEN WILL SERVE AS
ACREAGE'S
INTERIM CHIEF EXECUTIVE OFFICER
    * CANOPY GROWTH - HAS AGREED TO LOAN UNIT OF ACREAGE UP TO
US$100
MILLION PURSUANT TO SECURED DEBENTURE
    * CANOPY GROWTH - NEW ARRANGEMENT WILL REQUIRE APPROVAL BY
HOLDERS
OF AT LEAST 66⅔% OF EXISTING SHARES PRESENT IN PERSON OR
REPRESENTED BY PROXY
    * CANOPY GROWTH - ACREAGE BOARD HAS UNANIMOUSLY APPROVED NEW
AGREEMENT
    * CANOPY GROWTH - ACREAGE SHAREHOLDERS' NEW FIXED SHARES
WILL BE
ENTITLED TO RECEIVE 0.3048 OF CANOPY GROWTH SHARE FOR EACH FIXED
SHARE HELD

Source text for Eikon:  ID:nPn7X2SfJa 
Further company coverage:  WEED.TO 

 ((Reuters.Briefs@thomsonreuters.com;))
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