It’s official: Canopy Growth is out of the retail storefront game.
The deal between OEG Retail Cannabis, or OEGRC, and 420 Investments Ltd has closed, the Smiths Falls-based company announced yesterday (Tuesday).
That means Canopy will divest its 23 Tweed and Tokyo Smoke storefronts across the country.
Tweed will be rebranded while OEGRC will oversee Tokyo Smoke.
Canopy still owns the Tweed brand following the deal, but will shift sole focus to providing its products to consumers.
In a media release, CEO of Canopy Growth David Klein said this is an important step forward to a path of profitability.
Story by Grant Deme
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