09:27 AM EST - Canopy Growth Corporation : Announces the Company has completed the divestiture of its This Works skincare and wellness brand to Inspirit Capital, a London-based investment firm. Headquartered in London, England, The transaction is valued at up to £9.3MM ($15.9MM CAD) including cash. Canopy Growth will receive an upfront consideration of £2.7 MM ($4.6 MM CAD) in cash and in other consideration, a loan note issued by the buyer, and a contingent earn-out. "We are resolutely focused on achieving North American cannabis market leadership, and this completed sale represents a further step to enable this through the transformation of Canopy Growth into a simplified, asset-light, cannabis focused business," said David Klein, CEO, Canopy Growth. "In addition to realizing the proceeds from this sale which will further strengthen our financial position" Canopy Growth Corporation
shares T.WEED are trading -$0.04 at $0.69.
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