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Cannabis company Canopy Growth to lay off 800, close and consolidate some facilities

Canopy Growth Corp. will lay off 800 workers as part of a transformation plan that will see the company close its hallmark 1 Hershey facility and consolidate some of its cultivation operations.

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Cannabis-Focused RIV Capital Reports Q4 And Fiscal Year 2021 Results, Closes Deal With Canopy Growth

RIV Capital Inc. (TSX:RIV) (OTCQX: CNPOF) posted its latest financial earnings report on Thursday, touting a pop in total comprehensive income that hit CA$64.8 million ($53.7 million) in the fourth quarter of 2021. With a portfolio of 12 cannabis companies, the Toronto-based company reported a strong balance sheet, with roughly CA$335.4 million in total assets. In February, RIV Capital closed its previously announced deal with Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) to dispose of certain financial assets it held in TerrAscend Corp.(CSE:TER) (OTCQX:TRSSF), TerrAscend Canada Inc., The Tweed Tree Lot Inc., and Les Serres Vert Cannabis Inc. In return, the company received $118.4 million in cash, roughly 3.65 million common shares of Canopy Growth and the cancellation of multiple voting shares and subordinated voting shares of the company that Canopy Growth held.

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Canopy Growth Announces Closing of Plan of Arrangement Involving RIV Capital

Canopy Growth Announces Closing of Plan of Arrangement Involving RIV Capital News provided by Share this article Canopy Growth holds conditional ownership of approximately 20% in TerrAscend SMITHS FALLS, ON, Feb. 23, 2021 /PRNewswire/ - Canopy Growth Corporation ( Canopy Growth ) (TSX: WEED) (NASDAQ: CGC) announces that it has closed the previously announced plan of arrangement under the Business Corporations Act (Ontario) (the Arrangement ) involving Canopy Growth, RIV Capital Inc. (formerly Canopy Rivers Inc.) ( RIV Capital ) (TSX: RIV) (OTC: CNPOF) and its wholly-owned subsidiary, RIV Capital Corporation (formerly Canopy Rivers Corporation) ( RCC ), as well as Canopy Growth s wholly-owned subsidiary, The Tweed Tree Lot Inc. ( Tweed NB ).

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RIV Capital Closes Plan of Arrangement Involving Canopy Growth, Paving Way for Entry Into U S Market

RIV Capital Closes Plan of Arrangement Involving Canopy Growth, Paving Way for Entry Into U S Market
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