Canopy Growth closure confirmation of

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Canopy Growth closure confirmation of flawed deal that only benefits numbered company: Crosbie
Crosbie was responding to news today that Canopy growth will be permanently shutting its new production facility in St. John’s and permanently withdrawing from the province.
Wednesday, December 9, 2020

Office of the Official Opposition
For Immediate Release

 

St. John's, NL (December 9, 2020) – PC Opposition Leader and Windsor Lake MHA, Ches Crosbie, came out swinging today following news that another Furey Liberal Government deal has collapsed resulting in layoffs.

Crosbie was responding to news today that Canopy growth will be permanently shutting its new production facility in St. John’s and permanently withdrawing from the province. Tens of millions in tax payer incentives were involved in the original announcement with the promise of 145 jobs.

“Just last week we saw Premier Furey give $41.5 million dollars to Husky Energy which incredibly led to the layoff of some 75 people the very next day. Now we see the permanent mothballing of Canopy’s facility with 14 jobs affected,” said Crosbie.

“The only winner in this deal is 80521 NL which will continue to lease an empty building and land to Canopy Growth. 80521 will receive almost $40 million dollars in shares, payments and other considerations from the company while Government has steadfastly refused to identify the people hiding behind the numbered company. Meantime, the employees are out in the cold and the taxpayer is left holding an empty bag,” Crosbie continued.

“There was no business case when this deal was announced and now our worst fears have been confirmed. The whole process was rushed without proper due diligence and oversight which remains the center of an investigation by the Auditor General,” Crosbie continued.

“A government I lead will not enter into such flawed deals. Taxpayers and the people of the province deserve better,” ended Crosbie.

Contacts:

Denise Tubrett

Chief of Staff

(p) 1.709.725.2594

DeniseTubrett@gov.nl.ca

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