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)
Since 1986, TPH Plumbing & Heating Inc has been deeply committed to fostering a positive and supportive work environment while prioritizing the well-being and growth of its employees. To save
Best Offices Ottawa: Burovision’s new downtown showroom redefines the modern workplace
Amid the maze of grey, boxy office spaces in downtown Ottawa lies an oasis of good design that brings the outdoors in and creates a welcoming and flexible environment for
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.
