---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-120861"
form_type: "8-K"
ticker: "CGC"
cik: "0001737927"
company_name: "Canopy Growth Corp"
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:14:28.333743+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-120861
- form_type: 8-K
- ticker: CGC
- cik: 0001737927
- company_name: Canopy Growth Corp
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737927/000110465925120861/0001104659-25-120861-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737927/000110465925120861/tm2533279d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-120861
- JSON: https://secwatch.observer/filing/0001104659-25-120861.json
- Plain text: https://secwatch.observer/filing/0001104659-25-120861.txt

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