Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) said on Friday that under the companies' Creditors Arrangement Act involving BioSteel Sports Nutrition Inc., the Ontario Superior Court of Justice has approved two transactions to sell all or substantially all of the assets of BioSteel Canada and BioSteel Manufacturing, LLC and that pending the closing of the transactions, Canopy Growth expects to realize proceeds which will improve the company's balance sheet.

On Sept. 21, 2023, the CCAA Court granted an order authorizing BioSteel Canada to conduct, under the oversight of KSV Restructuring Inc., in its capacity as court-appointed monitor of BioSteel Canada, a sale and investment solicitation process by the terms and conditions relating thereto.

Under the SISP, two transactions were identified as the …

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