MTL Cannabis Corp. has secured overwhelming shareholder approval for its previously announced acquisition by Canopy Growth Corporation. The special resolution received backing from 99.97% of all shareholders voting at the meeting, with 99.80% support among minority shareholders, clearing a significant regulatory hurdle for the transaction.
Under the arrangement originally negotiated in December 2025, Canopy Growth will acquire all issued and outstanding common shares of MTL Cannabis. The company expects to present the transaction for final court approval on February 23, 2026, with a targeted closing date before the end of March 2026, pending satisfaction of customary closing conditions.
The transaction represents a consolidation move within Canada's cannabis industry, where strategic combinations have become increasingly common as companies navigate regulatory requirements and market consolidation. The overwhelming vote margins suggest minimal shareholder dissent regarding the terms and valuation of the acquisition.