Wednesday, September 3, 2025

Latest

Canopy Growth Sees BioSteel Assets Sold Off Under CCAA Process

Canopy Growth (TSX: WEED) might yet get some value for its failed BioSteel division following a successful sale and investment solicitation process that took place under the Companies Creditors Arrangement Act.

Canopy this morning indicated that the Ontario Superior Court of Justice has approved two transactions to sell substantially all of the assets of BioSteel Canada and BioSteel Manufacturing.

The BioSteel Canada transaction is slated to see all intangible assets and intellectual property, formulas and recipes, inventory, and certified specified fixed assets sold to a successful bidder, pending the approval of the US Bankruptcy Court.

The BioSteel Manufacturing transaction meanwhile will see all the property, plant and equipment and other fixed assets, as well as the inventory of BioSteel Manufacturing, all productions reports and records, equipment logs and related data sold to a separate successful bidder, which is conditional upon the assignment of the lease agreement related to the facility in Verona, Virginia, and the approval of the courts.

READ: BioSteel Owes Millions To NHL, Professional Sports Teams: Bankruptcy Filing

While Canopy Growth did not identify the successful bidders in its release, the BioSteel Manufacturing transaction, as per court documents, saw Gregory Packaging Inc as the successful bidder. DC Holdings, who is operating as Coachwood Group of Companies, meanwhile was the successful bidder for the BioSteel Canada transaction.

Source: KSV Advisory

Financial data related to the transactions has yet to be released. Canopy Growth however remains the largest creditor and shareholder of BioSteel Canada.

Canopy Growth last traded at $0.74 on the TSX.


Information for this briefing was found via Canopy Growth and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Afghanistan Quake Deaths Pass 1,400

Sage Potash Secures US$14 Million USDA Grant For Flagship Project

Related News

Canopy Growth Closes $259.5 Million Acquisition Of Supreme Cannabis

Canopy Growth Corp (TSX: WEED) (NASDAQ: CGC) has officially completed the previously announced acquisition of...

Wednesday, June 23, 2021, 07:20:29 AM

Bank Of America Upgrades Canopy Growth’s Price Target To C$36 From C$30

Last week, Canopy Growth (TSX: WEED) (NASDAQ: CGC) reported its fiscal second quarter 2021 financial...

Wednesday, November 18, 2020, 09:59:00 AM

Canopy Growth Takes 19.99% Stake In Indiva As Part Of Wana Licensing Deal

Despite the downturn in the cannabis market, Canopy Growth (TSX: WEED) is working to stop...

Tuesday, May 30, 2023, 09:24:13 AM

Canopy Growth Posts Q4 2022 Loss Of $578 Million As Revenues Crater

Canopy Growth (TSX: WEED) this morning reported its fourth quarter results for fiscal 2022. Simply...

Friday, May 27, 2022, 08:24:27 AM

Canopy Growth Surges And Falls On Germany Cannabis Legalization

The German government has granted final approval for the legalization of cannabis, set to take...

Tuesday, March 26, 2024, 02:56:00 PM