Smiths Falls, Ont.-based Canopy Growth completes retail cannabis exit – Kingston | 24CA News

As most corporations throughout the Canadian hashish business wrestle to show a revenue, Smiths Falls, Ont.-based Canopy Growth Corp. has accomplished a deal to exit the retail panorama throughout the nation.

Canopy Growth stated Tuesday {that a} beforehand introduced cope with OEG Retail Cannabis and 420 Investments Ltd. has closed.

In the deal, Canopy will divest its 23 Tweed and Tokyo Smoke retail storefronts throughout Canada, together with shops in Kingston, Ont.

Also a part of the deal, OEGRC will take over the Tokyo Smoke model, whereas the Tweed shops might be rebranded.

“The divestiture of our Canadian retail business marks an important step forward on our path to profitability and furthers Canopy Growth’s focus on generating revenue growth in the Canadian market,” stated David Klein, CEO of Canopy Growth.

“These retail locations will continue operating under the experienced leadership of OERGC and FOUR20 under their respective retail brands to serve Canadian consumers with high-quality in-store experiences.”

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