Canopy Growth to acquire MTL Cannabis in stock-and-cash deal valued at ~38M shares + C$17M

Canopy Growth Corp

Exchange ratio: 0.32 CGC share + C$0.144 cash per MTL share; aggregate approx. 38M CGC shares and C$17M cash.
~75% of MTL shareholders entered voting support agreements; ~72% of CGC shares issued to MTL holders locked up for 3–12 months.
MTL founders Clement to receive 18-month consulting agreements at C$25k/month each plus C$2M PSUs; MTL CEO Perron appointed CGC COO.
Transaction subject to MTL shareholder, court, and regulatory approvals; expected closing by end of February 2026.
Termination fee of C$4M payable by MTL under specified circumstances.

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