Hershey Canada Inc. entered into an agreement to acquire Hershey Drive facility in Smiths Falls, Ontario from Canopy Growth Corporation (TSX:WEED) for CAD 53.1 million on August 15, 2023. Canopy Growth will retain its Smiths Falls-based post-harvest manufacturing facility. The completion of the transaction is subject to customary closing conditions including satisfactory completion of due diligence. Net proceeds received from the sale of the facility will be used primarily to pay down Canopy Growths' senior secured credit facility. Jones Lang LaSalle acted as broker to Hershey Canada Inc. Aaron Atcheson of Miller Thomson LLP acted as legal advisor to Hershey Canada. Andrew Salem of Cassels Brock & Blackwell LLP acted as legal advisor to Canopy Growth Corporation.

Hershey Canada Inc. completed the acquisition of Hershey Drive facility in Smiths Falls, Ontario from Canopy Growth Corporation (TSX:WEED) on October 2, 2023