Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced on Thursday that it's no longer funding BioSteel Sports Nutrition Inc.

The Ontario-based cannabis giant said BioSteel has "commenced proceedings under the Canopy' Creditors Arrangement Act in the Ontario Superior Court of Justice and will seek recognition of that proceeding under Chapter 15 of the United States Bankruptcy Code to give full force and effect to the orders made in the CCAA proceeding in the United States, including a stay of proceedings."

Canopy Growth previously disclosed it was reviewing its options, including streamlining operations and cutting costs by exploring strategic …

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