Move comes just two days after co-founder and former chief executive Sebastien St-Louis abruptly departed the Ottawa cannabis company.
Ottawa-based cannabis producer has seen its share price drop by 58 per cent since the beginning of the year.
Cannabis firm's shares hit a 2021 peak of US$10 on the NYSE in mid-February and have since fallen by 74 per cent.
Company has been issuing new shares at a steady clip as it seeks to finance its ambitious expansion plans.
Canopy Growth, local cannabis retailer see pre-roll sales soar as consumers share joints less during pandemic
Research commissioned by Canopy found the pre-roll joint category grew by 48% across the entire market between January and May 2021.
Cointreau wants any profits Canopy made on products with the allegedly infringing trademarks and for the cannabis company to cover its costs and attorneys fees.
Nation’s capital ranks sixth out of 160 cities in per-capita sales, according to the Ontario Cannabis Store
Ottawa-based firm's net revenue totalled $22.7 million, up from $22.1 million in the same quarter last year.
Smiths Falls-based cannabis firm reported a net loss of nearly $700 million in its fourth quarter, down from a loss of $1.3 billion in the same quarter last year.
Ottawa-based cannabis firm said Friday it will pay $400 million in cash and $525 million in shares for Toronto-based Redecan as it continues to hunt for more market share.