June 25, 2020 / 11:19 AM / in 8 days

BRIEF-Canopy Says Acreage Shareholders Will Receive 0.3048 Of Co's Share For Each Fixed Share

June 25 (Reuters) - Canopy Growth Corp:

* CANOPY GROWTH & ACREAGE HOLDINGS AGREE TO MODIFY PLAN OF ARRANGEMENT AS CANOPY GROWTH’S U.S. EXPANSION CONTINUES

* CANOPY GROWTH CORP - AMENDED ARRANGEMENT CREATES TWO CLASSES OF ACREAGE SHARES

* CANOPY GROWTH CORP - AMENDED ARRANGEMENT PROVIDES FOR UP-FRONT CASH PAYMENT TO ACREAGE SHAREHOLDERS

* CANOPY GROWTH - AMENDED ARRANGEMENT PROVIDES FOR SOME CONVERTIBLE SECURITY HOLDERS IN AMOUNT OF $37.5 MILLION

* CANOPY GROWTH - KEVIN MURPHY HAS ANNOUNCED TODAY THAT HE IS RESIGNING AS CEO OF ACREAGE

* CANOPY GROWTH - MURPHY WILL CONTINUE TO ACT AS CHAIRMAN OF BOARD OF ACREAGE

* CANOPY GROWTH - SEARCH FOR KEVIN MURPHY’S SUCCESSOR WILL COMMENCE IMMEDIATELY

* CANOPY GROWTH CORP - BILL VAN FAASEN WILL SERVE AS ACREAGE’S INTERIM CHIEF EXECUTIVE OFFICER

* CANOPY GROWTH - HAS AGREED TO LOAN UNIT OF ACREAGE UP TO US$100 MILLION PURSUANT TO SECURED DEBENTURE

* CANOPY GROWTH - NEW ARRANGEMENT WILL REQUIRE APPROVAL BY HOLDERS OF AT LEAST 66⅔% OF EXISTING SHARES PRESENT IN PERSON OR REPRESENTED BY PROXY

* CANOPY GROWTH - ACREAGE BOARD HAS UNANIMOUSLY APPROVED NEW AGREEMENT

* CANOPY GROWTH - ACREAGE SHAREHOLDERS’ NEW FIXED SHARES WILL BE ENTITLED TO RECEIVE 0.3048 OF CANOPY GROWTH SHARE FOR EACH FIXED SHARE HELD Source text for Eikon: Further company coverage:

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