[PRESS RELEASE] – SMITHS FALLS, Ontario, Feb. 18, 2026 – Canopy Growth Corp. announced that shareholders of MTL Cannabis Corp. have voted to approve the company’s previously announced acquisition of MTL (the “transaction”) at a special meeting of shareholders of MTL held Feb. 17, 2026.
The plan of arrangement with Canopy Growth received overwhelming support from MTL shareholders, with (i) 99.97% of all shares of MTL cast in favor of the special resolution approving the transaction, and (ii) 99.80% of MTL shares, excluding votes attached to MTL shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, cast in favor of the special resolution approving the transaction.
Approximately 89% of MTL shareholders participated in the vote, demonstrating broad support for the combination. Further details on the vote are provided in MTL’s press release dated Feb. 18, 2026.
“The strong shareholder support received today marks a significant milestone toward completing this strategically compelling combination of two organizations that will create Canada’s leading medical cannabis company,” Canopy Growth CEO Luc Mongeau said. “By combining MTL’s cultivation capabilities with our scale, we’re creating a more robust and competitive platform for long-term success in the Canadian and regulated international markets. We’re grateful to MTL shareholders for endorsing this vision and look forward to the opportunities ahead.”
The closing of the transaction, which remains subject to customary closing conditions, including final court and other third-party approvals, is expected to occur before the end of March 2026.
