Canopy Growth Announces Completed Sale of BioSteel Business For Aggregate Gross Proceeds Of $30.4M
Portfolio Pulse from Benzinga Newsdesk
Canopy Growth has completed the sale of its BioSteel business, receiving aggregate gross proceeds of $30.4 million. This move is part of Canopy Growth's strategic shift to focus on its core markets and operations.
December 01, 2023 | 12:36 pm
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Canopy Growth Corporation has sold its BioSteel business for $30.4 million, which may improve its financial position and allow for a more focused business strategy.
The sale of the BioSteel business could be seen as a positive development for Canopy Growth, as it may provide a cash influx and allow the company to concentrate on its primary operations, which could be beneficial for the stock price in the short term.
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