Canadian cannabis producer Canopy Growth said it is closing its flagship cultivation facility in Smiths Falls, Ontario, and cutting more than a third of its workforce as part of a shift to an “asset-light model” in Canada. Canopy disclosed the new strategy as it reported a net loss of 267 million Canadian dollars ($200 million) for its fiscal third quarter, bringing the struggling company’s red ink in the first three quarters of the year to CA$2.6 billion. Canopy said it is cutting its workforce by approximately 35%. The layoffs come as cannabis companies across North America have been shedding hundreds of jobs and closing facilities because of failing business plans, falling wholesale prices and recession worries.