Company: CGC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000950170-25-015839
Chunk: 23

Company: Canopy Growth Corp
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 1
Chunk 23
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 Proceedings upon service of a certificate (the “CCAA Termination Certificate”) and authorization for the BioSteel Entities to file assignments in bankruptcy pursuant to the Bankruptcy and Insolvency Act. The BioSteel Entities were assigned into bankruptcy as of October 2, 2024. The bankruptcy of the BioSteel Entities will deal with any remaining nominal assets of the BioSteel Entities. The CCAA Termination Certificate was served on October 22, 2024.

14

As a result of the foregoing, Canopy Growth no longer has a controlling interest in BioSteel US and BioSteel Manufacturing and has deconsolidated both entities effective November 16, 2023. The deconsolidation of BioSteel US and BioSteel Manufacturing and related impairment charges were classified under losses from discontinued operations.

        Three months ended

        Nine months ended

        December 31,

        December 31,

        December 31,

        December 31,

        2024

        2023

        2024

        2023

        Net revenue
         
        $
        -

        $
        172

        $
        -

        $
        56,610

        Cost of goods sold

        -

        1,900

        -

        145,625

        Operating expenses

        -

        (726
        )

        -

        97,851

        Operating loss

        -

        (1,002
        )

        -

        (186,866
        )

        Other income (expense), net1

        -

        14,481

        5,310

        (8,521
        )

        Income tax (expense) recovery

        -

        -

        -

        936

        Net income (loss) on discontinued operations, net of tax
         
        $
        -

        $
        13,479

        $
        5,310

        $
        (194,451
        )
       
      1 Included in Other income (expense), net for the three and nine months ended December 31, 2024 is a gain/loss on deconsolidation of $nil and $nil, respectively (three and nine months ended December 31, 2023 - gain on deconsolidation of $12,417 and loss on deconsolidation of $9,820, respectively).Investment in BioSteel EntitiesThe CCAA Proceedings for the BioSteel Entities have been completed. Canopy Growth continues to have a 100%