08:50:41 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Canopy Growth Corp
Symbol WEED
Shares Issued 494,891,390
Close 2023-02-17 C$ 3.37
Market Cap C$ 1,667,783,984
Recent Sedar Documents

Globe says Canopy Growth departing Smith Falls

2023-02-21 07:39 ET - In the News

The Globe and Mail reports in its Monday, Feb. 20, edition that Canopy Growth's Smith Falls, Ont., operations will be shut down by the summer. The Globe's Vanmala Subramaniam writes that Scott Reid, the Conservative member of Parliament for Lanark-Frontenac-Kingston, the electoral district that includes Smiths Falls, says: "Canopy has left a colossal hole in the economy of Smiths Falls. Tourism and remote work appear to be a permanent and beneficial part of the Smiths Falls economy, but I wouldn't want to exaggerate how much that will help." He says his constituents would be best served by another cannabis company moving into Canopy's premises, because workers in the town already have the necessary skills and experience. However, some of the biggest names in cannabis across the country -- Aurora Cannabis and Tilray Brands, for example -- have been struggling to achieve consistent profitability and, like Canopy, have been downsizing their operations. Deep-pocketed investors who could once pump tens of millions into turning a chocolate factory, as Canopy did, into a high-tech cultivation hub have long fled the space. Small and mid-sized producers are either being bought up or are closing down entirely.

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