Canopy Growth Announces Results of Annual General and Special Meeting of Shareholders

Rhea-AI Summary

Canopy Growth announced the results from its annual general and special meeting of shareholders held on September 21, 2020. A total of 260,647,934 common shares were voted, representing 70.22% of outstanding shares. All proposed matters, including the election of directors and appointment of KPMG as auditors for fiscal 2021, were approved. Directors Judy A. Schmeling and David Klein received 99.13% and 99.05% approval, respectively. Shareholders also greenlit amendments to the Omnibus Incentive Plan and established annual votes on executive compensation.

Positive

• 260,647,934 shares voted, representing 70.22% of total shares.
• High approval rates for director nominations; Judy A. Schmeling at 99.13% and David Klein at 99.05%.
• Appointment of KPMG as auditors approved for fiscal 2021.
• Amendments to the Omnibus Incentive Plan and Employee Stock Purchase Plan approved.

Negative

• William Newlands received only 96.82% approval, indicating some shareholder dissatisfaction.

SMITHS FALLS, ON, Sept. 21, 2020 /PRNewswire/ - Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) ("Canopy Growth" or "the Company") today announced the voting results from its annual general and special meeting of shareholders held earlier today (the "Meeting").

A total of 260,647,934 common shares of the Company, representing 70.22% of the issued and outstanding common shares of the Company, were voted in connection with the Meeting by 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 proxy statement dated August 6, 2020 (the "Proxy Statement"), were approved by the requisite majority of votes cast at the Meeting. The results are set out below.

Each of the directors listed as a nominee in the Proxy Statement was elected as a director of the Company at the Meeting. 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 cast FOR	Votes W ITHHELD	% votes WITHHELD
Judy A. Schmeling	171,131,011	99.13%	1,498,776	0.87%
David Klein	170,997,118	99.05%	1,632,669	0.95%
Robert L. Hanson	170,690,385	98.88%	1,939,402	1.12%
David Lazzarato	171,335,711	99.25%	1,294,076	0.75%
William Newlands	167,146,432	96.82%	5,483,355	3.18%
Jim Sabia	170,995,471	99.05%	1,634,316	0.95%
Theresa Yanofsky	171,415,485	99.30%	1,214,302	0.70%

At the Meeting, Canopy Growth shareholders approved the appointment of KPMG LLP as the Company's auditors for the 2021 fiscal year and authorized the board of directors to fix its remuneration. In addition, Canopy Growth shareholders approved certain amendments to the Company's Amended and Restated Omnibus Incentive Plan (the "OIP") and all unallocated awards issuable under the OIP as well as certain amendments to the Company's 2017 Employee Stock Purchase Plan, as further described in the Proxy Statement.

Canopy Growth shareholders also approved advisory (non-binding) resolutions on the compensation of the Company's named executive officers and to hold "say-on-pay" votes each year.

A report of voting results on all resolutions voted on at the Meeting will be available on both the Company's EDGAR and SEDAR pages at www.sec.gov/edgar and www.sedar.com, respectively.

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time.

Canopy Growth's medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, as well as lifestyle guru Martha Stewart and Fortune 500 alcohol leader Constellation Brands, to name but a few. For more information visit www.canopygrowth.com

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SOURCE Canopy Growth Corporation

FAQ

What were the voting results from Canopy Growth's shareholder meeting on September 21, 2020?

A total of 260,647,934 shares were voted, with all matters approved by the requisite majority.

Who were elected as directors during Canopy Growth's annual meeting?

Directors including Judy A. Schmeling and David Klein were elected with over 99% approval.

What significant resolutions were approved at Canopy Growth's shareholder meeting?

Resolutions included the appointment of KPMG as auditors and amendments to the Omnibus Incentive Plan.

What percentage of votes were cast in favor of William Newlands during the meeting?

William Newlands received 96.82% of votes in favor.

What is the significance of Canopy Growth's shareholder meeting results for CGC investors?

The approval of key resolutions indicates strong shareholder support and governance stability.