Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (Nasdaq: CGC) is pleased to announce that shareholders of MTL Cannabis Corp. (“MTL Cannabis” or “MTL”) have voted to approve the Company’s previously announced acquisition of MTL (the “Transaction”) at a special meeting of shareholders of MTL (the “MTL Shareholders”) held February 17, 2026.

The plan of arrangement with Canopy Growth received overwhelming support from MTL Shareholders, with (i) 99.97% of all shares of MTL (the “MTL Shares”) cast in favour 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 favour 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 for in MTL’s press release dated February 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,” said Luc Mongeau, Chief Executive Officer, Canopy Growth. “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.

About Canopy GrowthCanopy Growth is a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives.

Through an unwavering commitment to consumers, Canopy Growth delivers innovative products from owned and licensed brands including Tweed, 7ACRES, DOJA, Deep Space, and Claybourne, as well as category defining vaporization devices by Storz & Bickel. In addition, Canopy Growth serves medical cannabis patients globally with principal operations in Canada, Europe and Australia.

Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through an unconsolidated, non-controlling interest in Canopy USA. Canopy USA’s portfolio includes ownership of Acreage Holdings, Inc., a vertically integrated multi‑state cannabis operator with operations throughout the U.S. Northeast and Midwest, as well as ownership of Wana Wellness, LLC, The Cima Group, LLC, and Mountain High Products, LLC, a leading North American edibles brand, and majority ownership of Lemurian, Inc., a California-based producer of high-quality cannabis extracts and clean vape technology.

At Canopy Growth, we’re shaping a future where cannabis is embraced for its potential to enhance well-being and improve lives. With high-quality products, a commitment to responsible use, and a focus on enhancing the communities where we live and work, we’re paving the way for a better understanding of all that cannabis can offer.

For more information visit www.canopygrowth.com.

References to information included on, or accessible through, our website do not constitute incorporation by reference of the information contained at or available through our website, and you should not consider such information to be part of this press release.

Source: Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™