All articles tagged with #canopy growth
Originally Published 27 days ago — by Canopy Growth
Canopy Growth is acquiring MTL Cannabis in a deal valued at approximately $125 million, aiming to strengthen its position as Canada's leading medical cannabis provider, expand its product portfolio, and increase capacity for international demand, with expected synergies of around $10 million annually.
Originally Published 7 months ago — by Canopy Growth
Canopy Growth reported a decrease in revenue and net loss for FY2025 but reduced debt significantly and identified cost-saving initiatives aimed at improving profitability and accelerating growth in global medical cannabis and Canadian adult-use markets.
Originally Published 1 year ago — by Benzinga
Canopy Growth Corporation reported a 7% year-over-year increase in Q4 net revenue, driven by significant growth in its subsidiary Storz & Bickel and the Canadian medical cannabis business. The company also achieved substantial cost reductions, leading to improved gross margins and a significant reduction in net loss. CEO David Klein highlighted the company's progress and its strategic focus on expanding in key international markets like Germany and the U.S.
Originally Published 1 year ago — by Yahoo Finance
Marijuana stocks, including Tilray, Cronos Group, and Canopy Growth, surged as Vice President Kamala Harris expressed support for reducing federal regulation of marijuana in the U.S. and Germany passed a law to fully legalize the drug, set to take effect on April 1. This news, along with Canopy Growth's move to set up a Canopy USA holding company, drove stock prices up, with Tilray and Canopy Growth positioned to benefit the most from Germany's legalization.
Originally Published 2 years ago — by The Motley Fool
Stock splits have been a popular trend among investors, with forward-stock splits indicating strong business performance. However, reverse-stock splits, like the recent 1-for-10 reverse split by Canopy Growth, are often a sign of trouble. Canopy Growth's overestimation of production needs, poor acquisitions, and failure to understand consumer demand trends have led to a significant decline in its cash reserves and a going concern warning from auditors. With regulatory challenges and uncertain prospects in the U.S. cannabis market, Canopy Growth stock may face further declines in 2024.
Originally Published 2 years ago — by PR Newswire
Canopy Growth Corporation has announced a private placement offering of 6,993,007 units at a price per unit of US$4.29, resulting in aggregate gross proceeds of approximately US$30,000,000. The purpose of the offering is to provide the company with additional liquidity to strengthen its financial position, pay down debt, and support working capital and general corporate purposes. Each unit consists of a common share and a series A or B common share purchase warrant. The closing of the private placement is expected to occur on or about January 10, 2024, subject to customary closing conditions. Canopy Growth is a leading North American cannabis and consumer packaged goods company with a commitment to social equity and responsible use.
Originally Published 2 years ago — by PR Newswire
Canopy Growth Corporation has announced that it will no longer fund its BioSteel Sports Nutrition Inc. business unit and that BioSteel has filed for creditor protection under the Companies' Creditors Arrangement Act. Canopy Growth, as the senior secured lender, expects to recover proceeds from the sale of BioSteel's assets. This move is part of Canopy Growth's strategy to simplify its business and focus on its core cannabis operations in North America. The company aims to achieve positive Adjusted EBITDA in all remaining business units by the end of FY2024. Canopy Growth has recently made significant progress in reducing its debt, selling properties, and achieving cost reductions.
Originally Published 2 years ago — by Yahoo Finance
Canopy Growth Corporation is reminding its shareholders to cast their votes ahead of the upcoming annual general and special meeting of shareholders, scheduled for September 25, 2023, at 1:00 p.m. Eastern time. Shareholders are being asked to vote on various proposals, including the election of directors, appointment of auditors, adoption of a new equity incentive plan, and an advisory vote on executive compensation. The Board of Directors recommends voting "FOR" all proposals and each director nominee. Shareholders of record as of August 3, 2023, are eligible to vote, and they are encouraged to vote well in advance of the proxy deadline on September 21, 2023.
Originally Published 2 years ago — by MarketWatch
Canopy Growth Corp., a Canadian cannabis company, has reached agreements with its lenders to reduce its debt by $333 million over the next six months. The company, which has struggled to find profitability in the oversupplied Canadian market, aims to improve its balance sheet and reduce annual interest costs. Canopy Growth is also working towards listing its U.S. businesses on the Nasdaq, dependent on the U.S. lifting the federal ban on cannabis. The company has cut 1,200 jobs in the past year and faces a lack of financing alternatives.