NIAGARA-ON-THE-LAKE, ON,
March 31st, 2016 /CNW/
- Tweed Farms Inc. ("Tweed Farms" or the "Farm"), wholly owned
subsidiary of Canopy Growth Corporation (Canopy Growth) (TSXV: CGC)
is now licensed to produce, possess and ship dried marijuana at its
facilities in Niagara-on-the-Lake,
Ontario.
The license completes a successful phase of infrastructure
enhancements that have increased the independence of the Tweed
Farms site and transformed it from a broad-scale production
facility to a vertically integrated campus capable of growing,
trimming, curing and storing product. A 25,000 sq. ft. processing
and storage building has been added to the existing 350,000 sq. ft.
greenhouse. Tweed Farms will seek a final sales license as soon as
its first crop has been harvested and tested for sale.
"We acquired the greenhouse twenty two months ago to position
ourselves as a large scale, low-cost producer capable of supplying
a sizeable percentage of the market," said Bruce Linton, CEO of Canopy Growth. "This
infrastructure completion and Health Canada approval milestone is a
testament to the team at Tweed Farms who continue to execute our
capacity-building as planned."
"We now have three distinct facilities licensed to produce a
significant amount of finished goods, offering a growing number of
patients a reliable, diverse and secure supply of cannabis and
related oils products," continued Linton.
Using tissue culture propagation rather than clones clipped from
mother plants, large plots of cost-effective greenhouse space can
be brought online to satisfy demand.
The license is valid through January
13th, 2017 and allows Tweed Farms to produce
1200kg of dried marijuana. Consistent with Health Canada's process,
Tweed Farms will seek to expand the licensed capacity based upon
actual production from the initial 1,200kg.
Here's to (a whole lot more) Future Growth.
About Canopy Growth
Canopy Growth Corporation is a listed company on the TSX Venture
Exchange (CGC). Its wholly owned subsidiaries, Tweed Inc., Tweed
Farms Inc., and Bedrocan Canada Inc. are leading Canadian producers
of medical marijuana under the Marihuana for Medical
Purposes Regulations (MMPR).
The Company's group of brands represents distinct voices and
market positions designed to appeal to a wide array of customers,
doctors and strategic industry partners.
To learn more about our globally recognized brands, our
commitment to research and education, and our best-in-class
leadership team, please visit www.canopygrowth.com
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of its subsidiaries to be materially different from any future
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forward-looking statements.
Although Canopy Growth Corporation has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
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actions, events or results not to be as anticipated, estimated or
intended. Readers should not place undue reliance on
forward-looking statements. The factors identified above are not
intended to represent a complete list of the factors that could
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an obligation to publicly update such forward-looking statements to
reflect new information, subsequent events or otherwise unless
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SOURCE Canopy Growth Corporation