Welcome to our dedicated page for Canopy Growth Corporation Common Shares news (Ticker: CGC), a resource for investors and traders seeking the latest updates and insights on Canopy Growth Corporation Common Shares stock.
Canopy Growth Corporation (Symbol: CGC) is a leading North American cannabis company headquartered in Smiths Falls, Canada. The company is renowned for its extensive portfolio of brands, including Doja, 7ACRES, Tweed, and Deep Space, and its significant presence in both medicinal and recreational cannabis markets. Canopy Growth operates millions of square feet of indoor greenhouse production capacity, emphasizing quality and innovation in the cannabis industry.
Canopy Growth's product range extends beyond THC products to include non-THC offerings such as Martha Stewart CBD skincare products and premium vaporizers by Storz & Bickel. The company's commitment to delivering high-quality cannabis products is evident through continuous product innovation, such as the launch of new pre-roll products under its 7ACRES and Hiway brands, designed to cater to various consumer preferences and price points.
Recent Developments
- On February 22, 2024, Canopy Growth announced the introduction of five new pre-roll products across its adult-use cannabis portfolio, featuring unique filter designs and high THC content.
- On March 11, 2024, the company detailed a special resolution to amend its articles of incorporation, paving the way for the creation of non-voting exchangeable shares, which was approved by shareholders on April 12, 2024.
- On May 3, 2024, Canopy Growth secured approximately US$50 million from an institutional investor, enhancing its financial stability and liquidity.
- On May 7, 2024, Canopy USA, LLC exercised options to acquire Wana Brands and Jetty Extracts, marking a strategic move to consolidate its presence in the U.S. cannabis market.
- On May 30, 2024, Canopy Growth released its financial results for the fourth quarter and fiscal year ended March 31, 2024, highlighting significant reductions in expenses, cash burn, and debt.
- On June 4, 2024, the company exercised its option to acquire all issued and outstanding Class E subordinate voting shares of Acreage Holdings, Inc., further solidifying its market position in the U.S.
- On June 6, 2024, Canopy Growth announced an at-the-market equity program to issue and sell up to US$250 million of common shares for future investments and corporate purposes.
Canopy Growth's strategic focus includes advancing its Canopy USA strategy to capitalize on the U.S. THC market. The company's ecosystem encompasses rights to Acreage Holdings, a multi-state cannabis operator, Wana Brands, a leading edibles brand, and Jetty Extracts, a producer of high-quality cannabis extracts.
In addition to its product and market expansions, Canopy Growth maintains a strong commitment to social equity, responsible use, and community reinvestment. The company aims to pioneer a future where cannabis is widely accepted and utilized for its potential to enhance well-being and quality of life.
For more information, visit Canopy Growth’s website.
STORZ & BICKEL, a subsidiary of Canopy Growth Corporation (CGC), has launched three new vaporizers: the limited edition VOLCANO ONYX, the upgraded CRAFTY+, and the new MIGHTY+. The VOLCANO ONYX is priced at $699, while the VOLCANO CLASSIC ONYX is $479. The CRAFTY+ costs $279, offering reduced charging time. The MIGHTY+ is priced at $399, featuring rapid charging and a new temperature setting. These innovations are said to reflect STORZ & BICKEL's commitment to quality and user experience in the vaporizer market.
Canopy Growth Corporation (NASDAQ: CGC) will present virtually at the 2021 Barclays Global Consumer Staples Conference on September 8, 2021, at 3:20 pm ET. CEO David Klein will discuss the company's business transformation, U.S. operations, and strategic initiatives. The presentation will be accessible via the company's website, with a replay available for those unable to attend live. Canopy Growth is a leading cannabis and cannabinoid product company, aiming to improve lives and strengthen communities through innovative consumer products.
Canopy Growth Corporation (TSX: WEED, NASDAQ: CGC) will host its 2021 Annual General and Special Meeting virtually on September 14, 2021, at 2:00 PM ET. This meeting is open to eligible shareholders, defined as those on record as of July 21, 2021. Important details and instructions for participation are available in the proxy statement. Shareholders have received notices regarding internet availability to aid in voting.
The company is a leading diversified cannabis producer, offering a variety of products including dried flower, oils, and infused beverages.
Canopy Growth Corporation (CGC) reported Q1 2022 revenue of $136.2 million, a 23% increase year-over-year, driven by strong growth in cannabis and consumer products. The company maintained a 15.2% share in the Canadian recreational market while completing acquisitions of Ace Valley and Supreme Cannabis. Net income improved significantly to $390 million, aided by $581 million in other income. However, adjusted EBITDA loss was $64 million. The company aims for profitability and positive adjusted EBITDA by the end of FY 2022, targeting $150-$200 million in cost savings.
On July 27, 2021, Canopy Growth Corporation (NASDAQ: CGC) announced the launch of Tweed Quickies and Ace Valley Pinners, two new lines of smaller pre-roll joints available in larger pack sizes. This move responds to consumer preferences for more manageable cannabis options, particularly in social settings. Tweed Quickies, featuring 0.35 gram joints, come in packs of ten, while Ace Valley Pinners offer 0.3 gram joints in packs of eight. The products are designed for individual or group use without sharing, marking a significant addition to Canopy's product portfolio during the summer.
Canopy Growth Corporation (TSX: WEED, NASDAQ: CGC) will announce its financial results for Q1 fiscal year 2022 on August 6, 2021. This includes earnings for the period ended June 30, 2021. An audio webcast with CEO David Klein and CFO Mike Lee will follow the results at 10:00 AM ET on the same day. Investors can access the webcast live and as a replay until November 4, 2021. Canopy Growth remains a leader in the cannabis sector, with a focus on consumer wellness and diverse product offerings.
Canopy Growth Corporation has successfully completed its acquisition of The Supreme Cannabis Company, Inc. as of June 23, 2021. This strategic move enhances Canopy's leadership in the Canadian recreational cannabis market, increasing its market share to 18.1%. The acquisition includes Supreme's low-cost cultivation facility in Kincardine, Ontario, and is expected to yield $30 million in synergies within two years. As part of the Arrangement, Supreme shareholders receive 0.01165872 Canopy shares and $0.0001 in cash for each Supreme share.
Little Green Pharma Ltd has acquired a GMP medicinal cannabis cultivation and manufacturing facility in Denmark from Canopy Growth Corporation for C$20 million. The facility can produce over 12 tonnes of medicinal cannabis annually and enhances LGP's inventory, which currently holds about 1 tonne. This strategic acquisition allows LGP to expand into EU and global markets, with immediate plans to deliver products in Australia and Germany. The facility is expected to begin offering registered medicinal products in Denmark by early 2022, positioning LGP as a leader in the Australian medicinal cannabis sector.
Canopy Growth Corporation reported a 37% revenue growth for FY 2021, reaching $546.6 million, with significant gains in both cannabis and consumer products. The company maintains its leading position in the Canadian flower market and is making strides in the US market with new product launches, including CBD products by Martha Stewart. Canopy aims for positive Adjusted EBITDA in H2 FY 2022 and expects cost savings of $150-$200 million within 18 months. However, the company reported a net loss of $1.67 billion for the fiscal year.
On May 28, 2021, Canopy Growth Corporation (NASDAQ: CGC) announced participation in upcoming investor conferences in June 2021. Executives David Culver and Judy Hong will take part in the Piper Sandler Consumer Marketplace Conference on June 3, discussing legalization and regulatory landscapes. Rade Kovacevic will present at the Oppenheimer Consumer Growth and E-Commerce Conference on June 15, focusing on consumer insights and product innovation. Both events will be accessible via live webcast on the company's website, with replays available for 90 days.
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