Canopy sells Aldergrove and Delta greenhouses at a loss

Canopy Growth has sold off it’s Aldergrove and Delta cannabis growing facilities for a fraction of what it paid to buy them.

In a Feb. 9 filing with the United States Securities and Exchange Commission signed by Chief Executive Officer David Klein and Chief Financial Officer Michael Lee, the Ontario-based company said it completed the sale of the two B.C. facilities in December and January respectively for $40.7 million.

In the report the company said it was recording $400 million in “asset impairment and restructuring costs” as well as a “write-down of inventory in the amount of $15.6 million.”

Read more at aldergrovestar.com


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