Canopy Growth Shareholders Approve Reverse Split Authorization, Elect Directors, Appoint MNP
CGC is trading near its 52-week low of $0.65 (3.5% above the low).
Summary
Canopy Growth shareholders approved a reverse-split authorization (1-for-5 to 1-for-15, board discretion through September 2027), elected five directors, and ratified MNP as auditor. The split approval gives the board a tool to cure the sub-$1 Nasdaq deficiency disclosed October 16.
Key Events · Corporate Governance and Compliance · CGC
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Reverse Split Authorization Approved
Shareholders passed the Share Consolidation Resolution 121,567,723 for to 28,460,796 against, letting the board consolidate at 1-for-5 to 1-for-15 at any time before September 25, 2027.
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Board Gains Split Discretion
The exact ratio and timing are left to the board's sole discretion within the approved range; no split has been executed and no ratio has been set.
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Nasdaq Listing Deficiency Context
The vote follows the October 16 disclosure that shares traded below $1.00 for 30 straight days, with the stock at $0.673 against the $1.00 minimum.
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MNP Ratified as Auditor
MNP LLP was appointed auditor for the fiscal year ending March 31, 2027, with 130,265,593 votes for and 8,253,188 withheld, following PKF O'Connor Davies' previously disclosed resignation.
Analysis · CGC · Life Sciences
The reverse-split authorization is the consequential item: Canopy now has board discretion to consolidate at a ratio of 1-for-5 to 1-for-15 any time before September 25, 2027. That matters because the stock closed near $0.67 against a $1.00 Nasdaq minimum, and the company disclosed a 30-day sub-$1 notice on October 16 with a deadline in April. Approval does not mean a split happens — the board still sets the ratio and timing — but it removes the shareholder-vote hurdle to fixing the listing deficiency. The auditor change to MNP was also ratified, following the previously disclosed resignation of PKF O'Connor Davies in August.
How filings like this one have moved
In the 30 days to Oct 23, 2026, 29.2% of the 1549 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.17%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CGC was trading at $0.67 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $301.3M. The 52-week trading range was $0.65 to $2.38. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.