Canopy Growth said it's planning to take a C$700 million to C$800 million ($523M to $598M) charge in connection with the closure of two of its greenhouse facilities and the elimination of 500 jobs. The Canadian based cannabis provider blamed slower than expected growth in the Canadian recreational market for cannabis and changes in Canadian laws allowing outdoor commercial cultivation of marijuana. Canopy will also not move forward with a third greenhouse facility in Ontario, according to a statement. Read More...
Canopy Growth said it’s planning to take a C$700 million to C$800 million ($523M to $598M) charge in connection with the closure of two of its greenhouse facilities and the elimination of 500 jobs. The Canadian based cannabis provider blamed slower than expected growth in the Canadian recreational market for cannabis and changes in Canadian laws allowing outdoor commercial cultivation of marijuana. Canopy will also not move forward with a third greenhouse facility in Ontario, according to a statement.
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