2026-02-18, 5:37:34 a.m.
PICKERING, Ontario — February 18, 2026 — Leads & Copy — MTL Cannabis Corp. (CSE: MTLC; OTCQX: MTLNF) announced that shareholders have approved a plan of arrangement with Canopy Growth Corporation.
At a special meeting held Feb. 17, 2026, MTL Shareholders approved the special resolution authorizing the previously announced plan of arrangement under the Canada Business Corporations Act. Per the arrangement, Canopy Growth Corporation will acquire all of the issued and outstanding common shares of MTL Cannabis. The terms are detailed in the management information circular of MTL Cannabis dated January 15, 2026.
The Arrangement Resolution required approval by at least two-thirds (66 2/3%) of the votes cast by MTL Shareholders present in person or represented by proxy and entitled to vote at the Meeting; and a majority of the votes cast by MTL Shareholders present in person or represented by proxy and entitled to vote at the Meeting, excluding votes attached to Minority MTL Shares.
Voting results from the meeting indicate strong support for the resolution:
All MTL Shares: 107,468,366 votes for (99.97%), 35,875 votes against (0.03%)
Minority MTL Shares: 18,074,503 votes for (99.80%), 35,875 votes against (0.20%)
MTL Cannabis intends to seek a final order of the Supreme Court of British Columbia to approve the Arrangement at a hearing expected to be held on February 23, 2026. Subject to timely receipt of necessary approvals and the satisfaction of all other conditions, the closing of the Arrangement is expected to occur before the end of March 2026.
MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc., a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions.
Montréal Medical Cannabis Inc. uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. Montréal Medical Cannabis Inc. focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the “MTL Cannabis”, “Low Key by MTL” and “R’belle” brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. Montréal Medical Cannabis Inc. has also developed several export channels for bulk and unbranded GACP quality cannabis.
The company’s goal is for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics to be the leading Canadian provider of medical cannabis clinic services. Further information about the Arrangement is available in the Circular and related proxy materials, which are available on SEDAR+ under MTL Cannabis’ issuer profile.
Source: MTL Cannabis Corp.
