---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-126886"
form_type: "8-K"
ticker: "CGC"
cik: "0001737927"
company_name: "Canopy Growth Corp"
filed_at: "2023-12-18T23:59:59+00:00"
generated_at: "2026-06-07T11:22:33.604191+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-126886
- form_type: 8-K
- ticker: CGC
- cik: 0001737927
- company_name: Canopy Growth Corp
- filed_at: 2023-12-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 3.03, 5.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737927/000110465923126886/0001104659-23-126886-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737927/000110465923126886/tm2333047d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-126886
- JSON: https://secwatch.observer/filing/0001104659-23-126886.json
- Plain text: https://secwatch.observer/filing/0001104659-23-126886.txt

## Key facts
- Governance Changes
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737927/000110465923126886/0001104659-23-126886-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.