Canopy consolidates shares

The Canadian Press – | History: 462303

Canopy Growth Corp. states that the consolidation of its shares on a one-for-10 basis is expected to come into effect on Friday.

The post-consolidation shares are expected to begin trading on the Toronto Stock Exchange and Nasdaq at market open on December 20, subject to final confirmation from the Toronto Stock Exchange and Nasdaq.

The cannabis company says the consolidation was approved by shareholders at a meeting held on September 25.

It states that the change is being implemented to ensure the company continues to comply with Nasdaq Global Select Market listing requirements.

Canopy shares once traded for more than $60 per share, but have fallen significantly.

Canopy shares closed down eight cents at 93 cents on the Toronto Stock Exchange on Tuesday.

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