Skip to content
  1. Home
  2. National Agriculture

Shares of cannabis company Canopy Growth to be consolidated on a one-for-10 basis

SMITHS FALLS, Ont. — Canopy Growth Corp. says a consolidation of its shares on a one-for-10 basis is expected to become effective on Friday.
Canadian Press
20231213081228-6579b20b5d140f5486f79e9bjpeg
Canopy Growth Corp. says a consolidation of its shares on a one-for-10 basis is expected to become effective on Friday. Staff work in a marijuana grow room at a Canopy Growth facility in this Thursday, Aug. 23, 2018 file photo. THE CANADIAN PRESS/Sean Kilpatrick

SMITHS FALLS, Ont. — Canopy Growth Corp. says a consolidation of its shares on a one-for-10 basis is expected to become effective on Friday.

The post-consolidation shares are expected to start trading on the Toronto Stock Exchange and the Nasdaq at market open on Dec. 20, subject to final confirmation from the Toronto Stock Exchange and the Nasdaq.

The cannabis company says the consolidation was approved by shareholders at a meeting on Sept. 25.

It says the move is being implemented to ensure the company continues to comply with the listing requirements of the Nasdaq Global Select Market.

Shares in Canopy once traded for more than $60 per share, but have fallen significantly.

Canopy shares closed down eight cents at 93 cents on the Toronto Stock Exchange on Tuesday.

This report by The Canadian Press was first published Dec. 13, 2023.

Companies in this story: (TSX:WEED)

The Canadian Press