Cannabis company Canopy Growth sells California facility, changes auditors

Staff work in a marijuana grow room that can be viewed by at the new visitors centre at a Canopy Growth facility in Smiths Falls, Ont. Canopy Growth says it’s completed the sale of its facility in Modesto, Calif. THE CANADIAN PRESS/Sean Kilpatrick file photo

Canopy Growth Corp. says it has completed the sale of its facility in Modesto, Calif.

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

It says it has now 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 its accounting firm and accepted the resignation of KPMG LLP from the role.

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

– The Canadian Press

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