other material
confidence high
sentiment positive
materiality 0.55
CannaPharmaRx sells Hanover facility for $2M CAD to reduce debt
CANNAPHARMARX, INC.
- Sold Hanover, Ontario facility for $2,000,000 CAD, including 10 acres and 48,800 sq ft of growing space.
- Sale unanimously approved by senior management; proceeds to eliminate debt and liabilities.
- CEO Nick Colvin states sale will 'vastly improve the bottom line of our balance sheet'.
- Company cites focus on more technologically advanced facilities as reason for divestiture.