Cannabis company Canopy Growth sells California branch, changes accountant

SMITHS FALLS, Ont. – Canopy Growth Corp. says it has completed the sale of its Modesto, California, plant.

The cannabis company is selling some of its facilities as part of an organizational transformation announced last year to help cut costs.

It says it has sold five facilities for $81 million since April 1.

Canopy expects to raise up to $150 million from facility sales by Sept. 30.

The company also announced the appointment of PKF O’Connor Davies LLP as an accounting firm and accepted the resignation of KPMG LLP.

Canopy says the move is a joint decision between the company and KPMG.

This report from The Canadian Press was first published on June 29, 2023.

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