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SMITHS FALLS, Ontario - Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC), currently trading at $1.31 with a market capitalization of $412 million, has extended the deadline for shareholders to submit proxies for its upcoming annual general and special meeting to September 26, 2025 at 9:00 AM ET, according to a press release statement. InvestingPro data shows the stock has experienced significant volatility, falling over 70% in the past year.
The cannabis company said the extension aims to ensure a quorum is achieved at the meeting, which will be held the same day at 1:00 PM ET via live audio webcast. As a requirement of Canopy Growth’s NASDAQ listing, a quorum consists of holders representing 33 1/3% of outstanding shares entitled to vote. According to InvestingPro analysis, the company maintains a healthy current ratio of 3.07, indicating strong short-term liquidity position.
"We are very close to achieving a quorum for the Meeting and are extending the proxy cut-off to give more Shareholders the opportunity to vote and help ensure we can transact business at the Meeting," said Luc Mongeau, Chief Executive Officer of Canopy Growth.
The company has retained Laurel Hill Advisory Group to assist shareholders with voting questions. Most shareholders can vote online at proxyvote.com or by phone at 1-800-474-7493 using the 16-digit control number provided by Broadridge Financial Solutions.
Canopy Growth operates primarily in the cannabis industry with operations in Canada, Europe, and Australia. The company also maintains an unconsolidated, non-controlling interest in Canopy USA, LLC, which has ownership in several U.S. cannabis operators including Acreage Holdings and Wana Wellness. Get access to 7 additional exclusive InvestingPro Tips and comprehensive financial analysis in our detailed Pro Research Report, helping you make more informed investment decisions.
The meeting materials and additional information are available on the company’s EDGAR and SEDAR+ profiles.
In other recent news, Canopy Growth Corporation has completed a significant financial maneuver by making an early prepayment of $50 million against its senior secured term loan. This move fulfills the company’s debt reduction obligations ahead of schedule, with the prepayments originally planned for later dates in 2025 and 2026. Additionally, Canopy Growth has appointed Tom Stewart as its permanent Chief Financial Officer, a role he has been acting in since July 2025. The company has also strengthened its leadership in Europe by naming Miles Worne as Managing Director of European Markets, effective August 11, 2025. In governance matters, Institutional Shareholder Services has recommended that shareholders vote in favor of all resolutions at the upcoming Annual General and Special Meeting. These developments come as Canopy Growth continues to focus on its strategic objectives and financial health.
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