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Upon the completion of the Transaction, Canopy Growth will have sold a total of seven properties for an aggregate gross amount of approximately CAD$155 million since April 1, 2023. 'Our intent to purchase the Hershey Drive property in Smiths Falls is another example of the strategic investments we're making in our supply chain network and our Canadian operations to support growth,' said Jason Reiman, Chief Supply Chain Officer, The Hershey Company.

Once again, we have demonstrated Canopy Growth's ability to achieve significant organizational and operational change to position the Company for future growth in the Canadian market.' 'Each of the steps we have taken as part of our transformation to a simplified, asset-light operating model supports our ability to deliver in-demand products from brands our customers love, with greater agility and less execution risk. This is the latest milestone in our focused effort to reduce costs and further enhance our balance sheet,' said David Klein, Chief Executive Officer of Canopy Growth. 'We are pleased to have reached an agreement with Hershey on this important sale. The completion of the Transaction is subject to customary closing conditions. ('Hershey') for cash consideration of approximately CAD$53 million (the 'Transaction'). Pursuant to the terms of the Agreement, the Facility will be sold to Hershey Canada, Inc. Canopy Growth will retain its Smiths Falls-based post-harvest manufacturing facility. 17, 2023 /PRNewswire/ - Canopy Growth Corporation ('Canopy Growth' or the 'Company') (TSX: WEED) (Nasdaq: CGC) announced today that it has entered into an agreement (the 'Agreement') to sell its Hershey Drive facility (the 'Facility') in Smiths Falls, Ontario, as part of the Company's transformation to a simplified, asset-light operating model. for approximately CAD$53 millionĬanopy Growth continues to execute on transformation to simplified, asset-light operating model

Facility will be sold to Hershey Canada, Inc.

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