SMITHS FALLS, Ont. – An Australian cannabis company says it has purchased a Canopy Growth Corp. property in Europe.<\/p>\n<\/p>\n
Perth-based Little Green Pharma Ltd. says it has acquired a medicinal cannabis cultivation and manufacturing facility in Denmark from the Smiths Falls, Ont. company.<\/p>\n<\/p>\n
Little Green Pharma says it paid $20 million for the facility, which is located in Northern Odense and has the capacity to produce in excess of 12 tonnes of flower a year.<\/p>\n<\/p>\n
Canopy told its Danish workers in March that it was considering ceasing operations at the site because the company is able to serve global medical markets with existing Canadian production.<\/p>\n<\/p>\n
A spokesperson told The Canadian Press at the time that the facility closure was an important element in aligning the company with market demand and creating a path to profitability.<\/p>\n<\/p>\n
Canopy has spent most of the COVID-19 pandemic engaged in a restructuring that has involved laying off at least 1,000 employees.<\/p>\n<\/p>\n
This report by The Canadian Press was first published June 22, 2021.<\/p>\n<\/p>\n
Companies in this story: (TSX:WEED)<\/p>\n<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
SMITHS FALLS, Ont. – An Australian cannabis company says it has purchased a Canopy Growth Corp. property in Europe. Perth-based Little Green Pharma Ltd. says it has acquired a medicinal cannabis cultivation and manufacturing facility in Denmark from the Smiths Falls, Ont. company. Little Green Pharma says it paid $20 million for the facility, which […]<\/p>\n","protected":false},"author":522,"featured_media":1572,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","source":"The Canadian Press","byline":"","published":"2021-06-21T23:42:00","updated":"","_infotelid":"CP1396241322","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[383,2,381],"tags":[],"region":[309,310,311,312],"class_list":["post-1573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in420","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":7}},"post_modified":"2021-06-22T06:42:00","post_modified_gmt":"2021-06-22T13:42:00","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/20210622090628-60d1e63c1746028404a8b79ejpeg.jpg","_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/522"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=1573"}],"version-history":[{"count":2,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1573\/revisions"}],"predecessor-version":[{"id":3779,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1573\/revisions\/3779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1572"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=1573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=1573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=1573"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=1573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}