08:26 AM EDT, 03/11/2024 (MT Newswires) -- Canopy Growth Corp. ( CGC ) said Monday that it will seek shareholders' approval for the amendment proposal at a special meeting on April 12.

Under the amendment proposal, the company intends to create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth ( CGC ); and restate the rights of the common shares in the capital of Canopy Growth ( CGC ) to provide for a conversion feature whereby each common share may at any time, at the option of the holder, be converted into one exchangeable share.

If approved, Canopy shareholders may elect to convert all or part of their common shares into exchangeable shares and holders of exchangeable shares may elect to convert all or part of their exchangeable shares into common shares.