Canopy Growth implements 1-for-10 reverse split; sells This Works brand for up to £9.3M

Canopy Growth Corp

Share consolidation at 10:1 ratio effective December 15, 2023; trading begins December 20, 2023.
Action intended to regain Nasdaq minimum $1.00 bid price compliance.
Completed sale of This Works skincare brand to Inspirit Capital for up to £9.3M ($15.9M CAD).
Upfront cash consideration of £2.7M ($4.6M CAD) plus a loan note and contingent earn-out.
Divestiture aligns with focus on North American cannabis operations; proceeds strengthen balance sheet.

item 3.03 item 5.03 item 7.01 item 8.01 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Canopy Growth Corp: Filed an amendment to the articles of incorporation to effect a 10-for-1 share consolidation effective December 15, 2023, to regain Nasdaq minimum bid price compliance (effective 2023-12-15).

Change: charter amendment
Effective: 2023-12-15

Exact text from the filing

On December 15, 2023, Canopy Growth Corporation (the "Company") filed an amendment to the articles of incorporation of the Company, as amended (the "Articles Amendment") to effect a consolidation (the "Share Consolidation") of the issued and outstanding common shares of the Company (the "Common Shares"), at a ratio (the "Consolidation Ratio") of one post-Share Consolidation Common Share for every 10 pre-Share Consolidation Common Shares.

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25 governance changes filed in the last 30 days. Browse all governance changes →

Canopy Growth Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-126886

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