Canopy Growth Expects To Generate C$150 Mln From Facility Divestitures

(RTTNews) - Canopy Growth Corp.(CGC), a Canadian cannabis firm, said on Thursday that it aims to generate C$150 million from facility divestitures by September 30.

With the recent completion of the sale of its site in Modesto, CA., the company has now sold five facilities for proceeds of C$81 million since April 1.

David Klein, CEO of Canopy Growth, said: "Today's announcement reflects our continued focus on strengthening Canopy Growth's balance sheet and demonstrates the rapid execution of our transformation to an asset-light, North American focused cannabis business on an accelerated path to profitability…"