Sunday, June 1, 2025

Latest

Canopy Growth Sells Flagship Hershey Drive Facility In Smith Falls

Canopy Growth (TSX: WEED) has sold off an iconic facility in its efforts to drive towards an asset-light operating model. The company has sold what was once its flagship facility, the Hershey Drive facility, located in Smith Falls, Ontario.

The facility has been sold to that of Hershey Canada, for a total cash figure of C$53 million. Proceeds from the sale of the facility are to be used to pay down Canopy’s senior secured credit facility.

The company indicated that it will retain its Smith Falls-based post-harvest manufacturing facility, where the company has centralized its operations at what was once a former beverage facility.

The company year to date has sold a total of seven properties, for proceeds of $155 million.

“Each of the steps we have taken as part of our transformation to a simplified, asset-light operating model supports our ability to deliver in-demand products from brands our customers love, with greater agility and less execution risk. Once again, we have demonstrated Canopy Growth’s ability to achieve significant organizational and operational change to position the Company for future growth in the Canadian market,” commented CEO David Klein on the sale.

READ: Canopy Growth Reviewing Strategic Options For BioSteel, Including Potential Sale

Hershey Canada meanwhile alluded to placing the facility back into operation for its own purposes, stating that the purchase is a strategic investment into its supply to support growth.

Canopy Growth last traded at $0.51 on the TSX.


Information for this briefing was found via Sedar 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.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Democrats Take Aim At “Big Cannabis” In Proposed CAOC Legislation

It appears that the federal legalization of cannabis in the United States might not be...

Tuesday, September 7, 2021, 05:33:00 PM

From Founder To Former: Severance In the Cannabis Sector

You’re only the worth the value of your severance package. Or at least, that’s what...

Thursday, January 9, 2020, 06:13:51 PM

Canopy Growth: Analysts Anticipate Q1 Revenues Of $149 Million

Canopy Growth Corp (TSX: WEED) (NASDAQ: CGC) announced that they will be reporting their fiscal...

Tuesday, August 3, 2021, 03:28:00 PM

Acreage Holdings Versus Canopy Growth, Who’s Sandbagging Who?

“The trend is your friend,” and in the Cannabis sector, the trend has not been...

Friday, September 6, 2019, 08:57:28 AM

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

Canopy Growth’s (TSX: WEED) BioSteel Sports Nutrition Inc. finds itself in a significant financial bind,...

Wednesday, September 20, 2023, 11:02:00 AM