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)
Give your home a stunning makeover—for 30 to 40 per cent less cost—with NorthCo Services
In the home renovation industry, companies don’t often see repeat clientele—but Ottawa’s NorthCo Services is a rare exception. “We have an upcoming project which will be the third one for
Kingston manufacturers winning on the global stage with innovative products
Darrell Searles says Anchor Concrete wants to revolutionize the homebuilding industry—and the Kingston-based company has been doing exactly that through its innovative precast concrete building solutions. “We want to do
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.
