Cannabis company Canopy Growth sells California facility

SMITHS FALLS, Ont. – Canopy Growth Corp. says it has completed the sale of its facility in Modesto, Calif.

The cannabis company is selling some of its facilities as part of an organizational transformation announced last year to help cut spending.

It says it has now sold five facilities for $81 million since April 1.

Canopy expects to raise up to $150 million from facility sales by Sept. 30.

The company also announced the appointment of PKF O'Connor Davies LLP as its accounting firm and accepted the resignation of KPMG LLP from the role.

Canopy says the move reflects a joint decision between the company and KPMG.

This report by The Canadian Press was first published June 29, 2023.

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