About: http://data.cimple.eu/news-article/cd06c4e2d59f1edcae8f96a16737a107e2343a046701e20092ab9204

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/cd06c4e2d59f1edcae8f96a16737a107e2343a046701e20092ab9204 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Canadian cannabis giant Canopy Growth on Wednesday said it was closing five production sites and laying off some 220 workers in an attempt to improve profit margins. Canopy Growth, number one in the industry in a country where pot has been legal since late 2018, recently announced that it was seeking to cut costs by around CAN$150-200 million (US$117-156 million) to accelerate "our path to profitability," the company said in a statement. Operations will cease at greenhouses in the provinces of Newfoundland, New Brunswick, Alberta and Ontario, as well as outdoor cannabis growing operations in Saskatchewan, the company said. These greenhouses represent 17 percent of the company's total indoor cannabis production, while the outdoor site was Canopy's only one in Canada. "We are confident that our remaining sites will be able to produce the quantity and quality of cannabis required to meet current and future demand," said Canopy Growth CEO David Klein. The decision by the company -- which is 51 percent owned by US alcoholic beverage group Constellation Brands and has a market capitalization of CAN$13 billion -- was poorly received by investors. On the Toronto stock exchange Canopy shares closed the session down five percent, ending at CAN$34.91. Canada was the second nation, after Uruguay in 2013, to legalize the recreational use of cannabis. Canadian cannabis sales soared at the start of the coronavirus pandemic in March. However the spike in sales was not enough of a boost for a young industry in trouble and still struggling to reach profitability. jl/ch/bfm
schema:headline	Canada pot firm Canopy Growth implements site closures, layoffs
schema:mentions	Market capitalization Newfoundland and Labrador Alberta Ontario Toronto Alcoholic drink Uruguay Canada Chief executive officer Pandemic Coronavirus David Klein (businessman) Cannabis in Canada Constellation Brands New Brunswick Canopy Growth Saskatchewan Radio in New Zealand
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-12-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	80 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software