Canopy Growth Announces Facility Sale And Provides Update On Divestiture Actions; Canopy Growth Has Now Sold Five Facilities For Proceeds Of CAD$81M Since April 1, 2023
Portfolio Pulse from Happy Mohamed
Canopy Growth Corporation has announced the sale of its facility in Modesto, CA, marking the fifth facility sale since April 1, 2023, for a total of CAD$81 million. The company anticipates generating up to CAD$150 million from facility divestitures by September 30, 2023. These actions align with the company's transformation to an asset-light, North American focused cannabis business and aim to strengthen its financial position.
June 29, 2023 | 12:11 pm
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Canopy Growth's recent facility sale is part of its strategy to become an asset-light business and strengthen its financial position. This could potentially improve the company's profitability.
The sale of facilities is part of Canopy Growth's strategy to become an asset-light business. This could potentially reduce operational costs and improve the company's profitability, which could positively impact the stock price.
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