Canopy Growth Corp. says the aggregate gross proceeds from selling off its sports drink business total $30.4 million.
The Smiths Falls cannabis company says the proceeds come from two agreements linked to BioSteel Sports Nutrition Inc. that have closed.
The first deal involved the sale of BioSteel Canada to DC Holdings Ltd., which does business as Coachwood Group of Companies and also owns sports nutrition brand Canadian Protein.
OBJ360 (Sponsored)
City of Cornwall serves up natural beauty, rich history and modern amenities
An appealing, accessible destination for all A beautiful riverside city steeped in history, Cornwall offers visitors a chance to embrace modern experiences, connect with nature and immerse themselves in the
Growing the heart of Orléans – one business at a time
The Heart of Orléans Business Improvement Area (BIA) is a local board of Ottawa City Council, guided by a volunteer board of management and established in 2006. The BIA represents
The second transaction saw BioSteel sell its manufacturing business to New Jersey-based Gregory Packaging Inc., which is behind SunCup juice cartons.
Canopy says a portion of the proceeds will be used to repay debt.
The cannabis company 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.
