Canopy Growth Acquisition of MTL Cannabis Enters Critical Phase
29.01.2026 - 17:56:05
Canopy Growth has entered a decisive period for its proposed acquisition of MTL Cannabis, providing shareholders with a clear timeline of key events over the coming weeks. The process hinges on two major dates: a shareholder vote at MTL in mid-February and Canopy's upcoming quarterly earnings release.
The company is scheduled to announce its financial performance for the third quarter of fiscal year 2026 on February 6, before U.S. markets open. An accompanying audio webcast is planned for 10:00 a.m. Eastern Time.
This report follows recent strategic moves to strengthen Canopy's balance sheet. In early January, the company completed a recapitalization initiative. The measures involved refinancing a term loan due in 2027 and exchanging convertible notes maturing in 2029. According to the announcement, these actions have extended the maturity dates of its outstanding debt to at least January 2031.
Shareholder Vote and Transaction Terms
The path to completing the deal now depends on MTL Cannabis shareholders. The company has distributed a management information circular to its investors in preparation for a special meeting.
That gathering is set for February 17 in Vancouver. Shareholders will be asked to approve the arrangement for Canopy Growth to acquire all outstanding MTL shares. The proposal is based on an agreement originally dated December 14, 2025, which was amended on January 6.
The consideration offered for each MTL share is:
* 0.32 common shares of Canopy Growth plus
* 0.144 CAD in cash
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Approval requires a favorable vote from at least two-thirds of the votes cast. The deadline for submitting proxy votes is February 12.
Legal Timeline Points to February Closing
The legal framework for the transaction is also in place. MTL Cannabis obtained an interim order from the Supreme Court of British Columbia, dated January 14, authorizing the calling and holding of the shareholder meeting.
A hearing to seek the final court approval of the arrangement is scheduled for February 23. Provided all necessary approvals are secured, the companies aim to close the transaction by the end of February.
Key Dates for Investors:
* February 6: Canopy Growth Q3 FY2026 Earnings Release
* February 12: MTL Proxy Voting Deadline
* February 17: MTL Special Shareholder Meeting
* February 23: Court Hearing for Final Approval
* End of February: Targeted Transaction Closing
The upcoming earnings report on February 6 will provide a fresh look at Canopy's operations. Subsequently, the outcome of the MTL vote on February 17 and the court hearing on February 23 will determine if the acquisition can be finalized as planned by the end of February.
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