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Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (Nasdaq: CGC), a world-leading diversified cannabis company, today announced the voting results from its annual general and special meeting of shareholders held on September 25, 2023 (the “Meeting”).
A total of 350,593,653 common shares of the Company (the “Shares”), representing 48.88% of the issued and outstanding Shares, were voted in connection with the Meeting by the Company’s shareholders and proxy holders.
All of the matters put forward before the Company’s shareholders for consideration and approval, as set out in the Company’s definitive proxy statement dated August 8, 2023 (the “Proxy Statement”), were approved by the requisite number of votes cast at the Meeting, as further detailed below.
Each of the directors listed as a nominee in the Proxy Statement was elected at the Meeting to serve as a director of the Company until the Company’s next annual shareholders meeting or until his or her successor is duly elected or appointed.
The detailed results of the vote for the election of directors held at the Meeting are set out below:
|
Name Of Nominee |
Votes cast FOR |
% Votes FOR |
Votes cast AGAINST |
% Votes AGAINST |
|
Judy A. Schmeling |
224,726,712 |
95.43 % |
10,771,157 |
4.57 % |
|
David Klein |
225,829,237 |
95.89 % |
9,668,633 |
4.11 % |
|
Garth Hankinson |
226,617,190 |
96.23 % |
8,880,679 |
3.77 % |
|
Robert L. Hanson |
220,966,406 |
93.83 % |
14,531,464 |
6.17 % |
|
David Lazzarato |
222,421,298 |
94.45 % |
13,076,571 |
5.55 % |
|
James A. Sabia |
224,624,301 |
95.38 % |
10,873,569 |
4.62 % |
|
Theresa Yanofsky |
222,643,951 |
94.54 % |
12,853,918 |
5.46 % |
Canopy Growth’s shareholders also approved the appointment of PKF O’Connor Davies, LLP as the Company’s auditors and independent registered public accounting firm for the fiscal year ending March 31, 2024 and authorized the Company’s board of directors to fix their remuneration.
In addition, Canopy Growth’s shareholders approved: (i) the adoption of the Company’s new equity incentive plan; (ii) the amendment to the articles of the Company to provide, among other things, to consolidate the Company’s issued and outstanding Shares; (iii) an advisory (non-binding) resolution on the compensation of the Company’s named executive officers; and (iv) the issuance of Shares pursuant to certain outstanding convertible debentures in an amount that is in excess of 19.99% and 25%, as applicable, of the number of Shares outstanding on the date of issuance of such debentures in accordance with applicable stock exchange rules.
For complete results on all matters voted on at the Meeting, please consult the Company’s Report of Voting Results, which will be filed on the Company’s SEDAR+ profile at www.sedarplus.ca, and the Company’s Form 8-K which will be filed on EDGAR at www.sec.gov/edgar.
Latest News
Major Cannabis Industry Media Outlets Recognize CFCR’s Efforts to Support FDA Regulation of CBD
A pair of major media outlets that actively cover the cannabis industry recently lauded the efforts of the Council for Cannabis Regulation (CFCR) for the role the non-profit hopes to play in support of a nationwide effort to encourage the US Food and Drug Administration (FDAs) to expand its discretion on enforcement and issue specific policy guidelines relative to federal cannabinoid hemp regulations.
Benzinga, a daily online platform that provides articles on cannabis and hemp stocks and news about CBD, psychedelics, business and culture, praised CFCR for its 26-page response to a Federal Request for Information (RFI) seeking input from qualified, interested industry players. In its submission, CFCR described a marketplace that has metamorphosized significantly since the passage of the 2018 Farm Bill.
Benzinga writes: This bill, while an important step forward, opened Pandora’s box, allowing some unscrupulous businesses to peddle poorly regulated CBD products. As a result, consumers are confronted with a bewildering assortment of options, some of which may not be safe. CFCR is candid in its depiction: a terrain marred by “bad actors” and “false labeling,” where consumers are left clueless about which products to trust. Consumers have no ability to differentiate between a safe and unsafe product.”
Cannabis Business Times acknowledged the association’s push to encourage the FDA to act swiftly to do its part to reform the marketplace, an action that is desperately needed to both improve the state of the cannabis industry and advance consumer protection.
Marijuana Moment, another influential online outlet, noted CFCR’s support for an industry-wide push to the FDA to adopt universal labeling of cannabis and CBD products.
For CFCR Founder and Board Chair Sheri Orlowitz, the coverage certainly adds credibility to the organization’s mission. “I’m very excited about the position we are suggestion and I’m grateful that a few extremely influential media outlets also recognize the merits,” she said. “On the back end of this, we’re going to go to Congress and explain to them what FDA has been doing with regards to regulation and also what more they could be doing to regulate.”
Cannabis
🌿 Breaking News: Organigram Unveils Debut Collection of THCV Products Crafted from Moncton’s Whole Flower Harvest
The first lineup of THCV products enabled by Organigram’s strategic investment in Phylos Bioscience
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to launch its first range of whole-flower derived THCV products through the Company’s popular SHRED and newly re-launched Trailblazer brands.
Reaffirming its commitment to forward-looking innovation, Organigram strives to maintain a competitive advantage in the cannabis industry, most recently through its strategic investment in Phylos Bioscience, a US-based leader in cannabis genetics. Through this investment, Organigram cultivates and extracts THCV in-house in its state-of-the-art Moncton facility and is currently believed to be the only Canadian licensed producer (LP) to do so.
THCV is a novel and rare cannabinoid often referenced for its appetite-suppressing effects1. THCV is a compelling offering for consumers because, like CBD, it is reported to be non-psychoactive 2, and acts as an antagonist for some of the qualities associated with THC. For example, THCV is reported to mitigate the appetite stimulation 1 associated with THC, earning it the nickname “Diet Weed”, and is also gaining popularity for its reported ‘super Sativa effects of wellness, energy, and focus.2
Organigram has exclusive Canadian rights to all THCV cultivars from Phylos, including Get S**t Done (1:3 THC: THCV) and Joyride (1:1 THC: THCV), two popular cultivars with THCV concentrations that are significantly higher than anything else currently available in the market. Phylos has developed, and continues to develop, proprietary high-THCV genetics in various THC: THCV ratios where each ratio creates a differentiated user experience and can be delivered in a wide range of product formats.
“At Organigram, our commitment to scientific excellence, rigorous research, and consumer-driven innovation sets us apart in the industry,” says Borna Zlamalik, Senior Vice President of Innovation and R&D at Organigram. “We are currently the only licensed Canadian cannabis company to be cultivating and extracting from THCV flower, meaning that our products are made from the entire cannabis flower, including cannabinoids, terpenes, flavonoids, and other compounds. They are extracted directly from the cannabis plant using methods like CO2 and solventless cold water extraction. Our products are naturally (and not synthetically) derived, not created through chemical processes in a laboratory setting. This is a testament to our extraordinary R&D, exceptional talent, and the incredible capabilities we have in-house,” he added.
Organigram’s first THCV range of products includes:
- SHRED’ems Guava Lime Go–Time: This exotic new flavor profile, bursting with guava and lime flavors provides a unique cannabinoid experience with an initial 1:1 THC: THCV (10mg THC + 10mg THCV) ratio per pack. An entry point for those looking to experience this new minor cannabinoid.
- Trailblazer Zen Garden Grapefruit: A THCV-forward, grapefruit-flavored sugar-free gummy, that offers more THCV than any other gummy in the market with an initial 1:2 THC: THCV (10mg THC + 20mg THCV) ratio per pack.
“In this era of heightened awareness, we recognize that consumers expect more from cannabis producers, and our commitment as an industry-leading Licensed Producer is to exceed those expectations. By harnessing the power of THCV through our strategic investment, we are reshaping the cannabis experience for consumers,” says Megan McCrae, Senior Vice President of Marketing and Communications at Organigram.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused edibles in Canada. Organigram is focused on producing high-quality, cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O’ Buds, SHRED, SHRED’ems, Monjour, Laurentian, Tremblant Cannabis, and Trailblazer. Organigram operates facilities in Moncton, New Brunswick, and Lac-Supérieur, Quebec, with a dedicated edible manufacturing facility in Winnipeg, Manitoba. The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).
Forward-Looking Information
This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors that may cause actual results, events, performance, or achievements of Organigram to differ materially from current expectations or future results, performance, or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information including changes to market conditions, consumer preferences, and regulatory climate including change in regulation of minor cannabinoids such as THC-V, and factors and risks as disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other Company documents filed from time to time on SEDAR (see www.sedar.com) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release is made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Footnotes:
- Jadoon, Khalid A et al. “Efficacy and Safety of Cannabidiol and Tetrahydrocannabivarin on Glycemic and Lipid Parameters in Patients With Type 2 Diabetes: A Randomized, Double-Blind, Placebo-Controlled, Parallel Group Pilot Study.” Diabetes care vol. 39,10 (2016): 1777-86. doi:10.2337/dc16-0650 https://pubmed.ncbi.nlm.nih.gov/27573936/
- Cascio, Maria Grazia, et al. “The phytocannabinoid, Δ⁹-tetrahydrocannabivarin, can act through 5-HT₁A receptors to produce antipsychotic effects.” British Journal of Pharmacology vol. 172,5 (2015): 1305-18. doi:10.1111/bph.13000 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4337703/
Contacts
For Investor Relations inquiries:
Max Schwartz
Director of Investor Relations
investors@organigram.ca
Organigram
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