Canadian Cannabis Retail Giant Tokyo Smoke Restructures, Seeks Stronger Future Via $56.7M Share Deal
Portfolio Pulse from Jelena Martinovic
Tokyo Smoke, a Canadian cannabis retailer, is restructuring and has entered a $56.7M share deal with its parent company, TS Investments Corp. Previously owned by Canopy Growth Corporation (NASDAQ:CGC), Tokyo Smoke is closing 29 stores and seeking buyers or investors to improve its business. The restructuring aims to align with market conditions and exit CCAA protection stronger.
September 20, 2024 | 3:37 pm
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NEUTRAL IMPACT
Canopy Growth Corporation, former owner of Tokyo Smoke, is indirectly affected by Tokyo Smoke's restructuring and share deal with TS Investments. The restructuring could impact Canopy's past investments and market perception.
Canopy Growth Corporation previously owned Tokyo Smoke, and its restructuring could reflect on Canopy's past strategic decisions. However, the direct financial impact on Canopy is limited as it no longer owns Tokyo Smoke.
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