Canopy Growth Finalizes $39M Hershey Drive Facility Sale
Portfolio Pulse from Nina Zdinjak
Canopy Growth Corporation has completed the sale of its Hershey Drive facility for approximately $39 million, as part of its transformation to an asset-light operating model. The company has sold a total of seven properties for approximately CA$155 million since April 1, 2023. The proceeds from the sale will be used primarily to pay down the company's senior secured credit facility.
October 02, 2023 | 1:33 pm
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POSITIVE IMPACT
The sale of the Hershey Drive facility is part of Canopy Growth's strategy to transition to an asset-light model. The proceeds will be used to pay down the company's senior secured credit facility, which could improve its financial position.
The sale of the Hershey Drive facility is a significant step in Canopy Growth's transition to an asset-light model. This could reduce the company's liabilities and improve its balance sheet, potentially making it more attractive to investors. The use of the proceeds to pay down the company's senior secured credit facility could also reduce its interest expenses, potentially improving its profitability in the future.
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