SMITHS FALLS, ON, March 14th, 2016 /CNW Telbec/ - Canopy
Growth Corporation (TSXV: CGC) ("Canopy Growth" or "the
Corporation") has granted an aggregate of 550,00 options to
purchase common stock to three Officers of the Corporation to be
vested in accordance to the terms of the Corporation's Option
Plan. In addition, 400,000 options were granted to purchase
common stock to four Directors of the Corporation to be vested
quarterly over one year. All of the foregoing options shall
have an exercise price equal to $2.95 per share.
On February 11, 2016, Tweed Inc.
(Tweed), a wholly-owned subsidiary of Canopy Growth announced that
it had entered into a business partnership with the artist known as
Snoop Dogg. Under the partnership, Snoop Dogg, through a controlled
company, and Tweed have partnered on curated content and brand
strategy exclusively in Canada.
The license agreement is for a term of up to five years. As partial
consideration for the arrangement, the controlled company will
receive a combination of Canopy Growth shares, royalties, and
monetary compensation, released over the course of the agreement.
The share consideration is comprised of common shares totaling
386,100 at a price of $2.59 per
share, of which 135,135 common shares were issued on February 11, 2016 with the remainder of the
250,965 common shares escrowed for release, subject to meeting
certain service criteria, over the initial three years of the
term.
About Canopy Growth Corporation
Canopy Growth
is Canada's first publicly traded medical marijuana
company and the first geographically diversified producer with dual
licenses under the Marihuana for Medical Purposes Regulations.
Through its wholly-owned subsidiaries, Tweed, Tweed Farms, and
Bedrocan Canada, the Company operates three state-of-the-art
production facilities in Ontario and distributes
marijuana across the country to Canadian patients managing a host
of medical conditions. The Company is dedicated to educating
healthcare practitioners, providing consistent access to high
quality medication, conducting robust clinical research, and
furthering the public's understanding of how marijuana is used for
medical purposes. www.canopygrowth.com
About Tweed Inc.
Tweed Inc. is a Canadian company
licensed under the Marihuana for Medical Purposes
Regulations to produce and sell marijuana to authorized
medical customers. Tweed strives to supply a wide selection of
marijuana, as diverse as the patients who trust the company with
their patronage. www.tweed.com
Notice Regarding Forward Looking Statements
This news
release contains forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"estimates", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Canopy Growth Corporation, Tweed Inc., Tweed Farms
Inc. or Bedrocan Canada Inc. to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Examples of such statements include
future operational and production capacity, the impact of enhanced
infrastructure and production capabilities, and forecasted
available product selection. The forward-looking statements
included in this news release are made as of the date of this news
release and Canopy Growth Corp. does not undertake an obligation to
publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise unless required by
applicable securities legislation. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation