Company: CGC
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001104659-25-075215
Chunk: 128

Company: Canopy Growth Corp
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 128
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 execute or cause to be executed, under the seal of the Company or otherwise, and to deliver or cause to be delivered, such other documents and instruments, and to do or cause to be done all such other acts and things, as may in the opinion of such director or officer of the Company be necessary or desirable to carry out the intent of the foregoing resolutions, the execution of any such document or the doing of any such other act or thing by any director or officer of the Company being conclusive evidence of such determination.” Background and Reason for the Share Consolidation Proposal To remain listed on the Nasdaq Stock Market, Nasdaq Rules require that minimum bid price of our Shares be at least $1.00 per Share (the “ Minimum Bid Price Rule ”). Our primary objective in seeking 93 TABLE OF CONTENTS Shareholder approval of the Share Consolidation Proposal is to be in a position to raise the per-share trading price of our Shares to meet the requirements for the continued listing of our Shares on the Nasdaq Global Select Market in the event the price of our Shares declines. On the Record Date, the closing price for the Shares on the Nasdaq Global Select Market was $1.05 per Share. Although the closing price of our Shares is above $1.00 per share currently, recently it has at times dipped below $1.00. In particular, the closing price of our Shares was $0.83 on the Nasdaq Global Select Market on April 8, 2025, and the closing price of our Shares on the Nasdaq Global Select Market was below $1.00 on several other days in March and April of 2025. Under Nasdaq Rules, we will receive a deficiency letter if the closing price of our Shares on the Nasdaq Global Select Market remains below $1.00 for 30 consecutive business days. Thus, we are seeking shareholder approval of the Share Consolidation Proposal primarily so that the Board is in a position to implement the Share Consolidation in the event we fall out of compliance with the Minimum Bid Price Rule. However, the Board could determine to implement the Share Consolidation Proposal even if we remain in compliance with the Minimum Bid Price Rule to have a higher per Share stock price for the reasons discussed below or the Board could determine not to implement the Share Consolidation Proposal even if we are not in compliance with the Minimum Bid Price Rule. We expect that the Share Consolidation, if effectuated, would increase the bid price per Share and, if necessary, allow the Company to comply with the Minimum