Canopy Growth Corp. says an Ontario court has approved the sale of its BioSteel sports drink business in a pair of deals.
Financial terms of the agreements were not immediately available.
Canopy Growth chief financial officer Judy Hong says the sales process identified two qualified buyers for the BioSteel brand and assets.
(Sponsored)
Local businesses face hiring obstacles due to immigration pullback, flawed screening
In his 39 years of practicing immigration law, Warren Creates (a rare Law Society Certified Specialist) has never seen an environment so challenging for employers looking to hire workers from
Preparation is key to preventing legal consequences for dismissal, according to Emond Harnden LLP
Companies contending with the difficult process of dismissing an employee must be very careful about their actions, or face potentially serious legal consequences. Being proactive about maintaining accurate and detailed
Hong added that the anticipated proceeds from the sales are expected to improve Canopy Growth’s balance sheet.
The first deal covers the sale of BioSteel Canada to DC Holdings Ltd., while a second agreement includes the sale of the BioSteel Manufacturing business to Gregory Packaging Inc.
Canopy put BioSteel up for sale when the sports drink business was placed under court protection from creditors under the Companies’ Creditors Arrangement Act in September.
