On March 16, 2026, Canopy Growth Corporation announced the successful completion of its acquisition of MTL Cannabis Corp. This strategic move is expected to create Canada’s leading medical cannabis business by revenue. The acquisition involved Canopy Growth acquiring all issued and outstanding common shares of MTL, with shareholders receiving 0.32 of a Canopy Growth common share and C$0.144 in cash for each MTL share. This translates to approximately 41.2 million Canopy Growth shares and C$18.5 million in cash in total. The integration of MTL is anticipated to enhance Canopy Growth's operational capabilities and expand its premium flower supply, which is crucial for meeting the growing demand in both Canadian and international markets, particularly in Europe. Canopy Growth's CEO, Luc Mongeau, emphasized that this acquisition is a significant step towards achieving sustainable profitability and improving operational efficiency. The deal is also expected to generate run-rate synergies of approximately C$10 million within 18 months. The leadership team at Canopy Growth will be strengthened by the addition of key members from MTL, further enhancing the company's operational depth. This acquisition positions Canopy Growth favorably in the competitive landscape of the cannabis industry, particularly as it aims to achieve positive adjusted EBITDA during fiscal 2027.

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