Canopy Growth (NASDAQ:CGC) shareholders approved all matters presented at the company’s reconvened 2026 Annual General and Special Meeting, including a share-consolidation authorization, the election of five directors and the appointment of MNP LLP as auditor for fiscal 2027.
The virtual meeting, which had been adjourned on Sept. 25, 2026, was reconvened on Oct. 23. Chief Executive Officer and Director Luc Mongeau chaired the session and said proxies representing enough common shares had been received to establish quorum.
Board Election and Auditor Appointment
Shareholders elected all five board nominees: Mongeau, David Lazzarato, Theresa Yanofsky, Shan Atkins and Joseph Bayern. The directors will serve until the next annual general meeting or until their successors are elected or appointed.
Investors also approved the appointment of MNP LLP as Canopy Growth’s independent registered public accounting firm for fiscal 2027. The board, or an appropriate committee, was authorized to set the firm’s remuneration.
The company presented its audited consolidated financial statements for the fiscal year ended March 31, 2026. No shareholder vote was required for the presentation of those financial statements.
Share Consolidation Authorized
Among the approved proposals was a special resolution authorizing an amendment to Canopy Growth’s articles to consolidate its issued and outstanding common shares and exchangeable shares.
The board may determine the precise consolidation ratio, within a range of one post-consolidation share for every five to 15 pre-consolidation shares, at any time before Oct. 23, 2027. The same ratio would apply to common and exchangeable shares. Fractional shares resulting from the consolidation would be deemed tendered to the company for cancellation without consideration, as described in the company’s proxy statement.
Governance and Compensation Proposals
Shareholders also approved an advance-notice bylaw establishing notice and other requirements for shareholders seeking to nominate directors at company shareholder meetings.
In addition, shareholders approved the renewal of unallocated awards under Canopy Growth’s omnibus incentive plan, including options, restricted share units, deferred share units, share-based awards and other entitlements.
The company’s advisory, non-binding say-on-pay proposal concerning named executive officer compensation also passed. Shareholders voted in favor of holding future advisory votes on executive compensation annually under the say-on-frequency proposal.
- All director nominees were elected.
- MNP LLP was appointed as auditor for fiscal 2027.
- The board received authority to implement a share consolidation within the approved range.
- Shareholders approved the advance-notice bylaw and omnibus incentive-plan renewal.
- Investors supported executive compensation and selected an annual say-on-pay vote.
Christelle Gedeon, Canopy Growth’s Chief Business Development and Corporate Affairs Officer and Corporate Secretary, said all items submitted to a ballot received the required shareholder approval. The company said final voting results, including votes cast for and withheld on each matter, would be reported through SEDAR+, a press release and a Form 8-K filing.
No questions were submitted by shareholders during either the formal-business portion of the meeting or the subsequent question-and-answer session.
About Canopy Growth (NASDAQ:CGC)
Canopy Growth Corporation is a cannabis company headquartered in Smiths Falls, Ontario, Canada. Founded in 2013, the company operates in the production, distribution and sale of cannabis and cannabis-related products for adult-use and medical markets.
Its product portfolio includes dried cannabis flower, pre-rolls, cannabis oils, softgels, vapes, beverages and edibles. Canopy Growth markets products under several brands, including Tweed, 7ACRES, Doja and Deep Space, with offerings designed for different consumer preferences and product segments.
Canopy Growth primarily serves the Canadian recreational and medical cannabis markets and has pursued international opportunities in selected medical-cannabis markets.
