SEC Filings

Canopy Growth Meeting Fell Short Of Quorum; Reconvenes October 23 After Vote Reminder

The cannabis company says an annual and special meeting was adjourned for lack of quorum and a second delay would cost more.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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Canopy Growth Meeting Fell Short Of Quorum; Reconvenes October 23 After Vote Reminder

Canopy Growth's annual general and special shareholder meeting could not reach quorum on its original September 25 date, according to a reminder notice the company filed Tuesday. The company is asking holders who have not voted to do so before the meeting reconvenes on October 23.

What the filing says

The notice, filed Tuesday as a DEFA14A (additional proxy soliciting material), says the September 25 meeting was adjourned because too few shares were represented. It tells recipients their records show their shares have not yet been voted.

The meeting will reconvene at 1:00 p.m. ET on October 23. A voting instruction form must be received by 9:00 a.m. ET that day to count.

Holders with more than one account are told to vote every voting instruction form they received.

What it changes for holders

Quorum is the minimum number of shares that must be represented for a meeting to proceed. The company says the votes are needed to reach it and avoid a further adjournment, which "would result in additional costs to Canopy Growth Corporation."

If you own the shares and have not returned your form, the notice is aimed at you. Questions go to the company's proxy solicitation agent, Morrow Sodali (Canada) Ltd., toll-free at 1-833-830-8205.

What to watch

The next date is October 23, when the meeting reconvenes. If votes again fall short of quorum, the company says another adjournment would follow.

The voting deadline is 9:00 a.m. ET on October 23, four hours before the meeting reconvenes.

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