SMITHS FALLS, ON, July 25, 2016 /CNW/ - Canopy Growth Corporation
("Canopy" or "the Company") is pleased to announce that its wholly
owned subsidiary Tweed Inc. ("Tweed"), Canada's largest medical marijuana producer,
has received necessary approvals in Canada and Germany to begin export of medical cannabis
for sale to German patients.
Working with MedCann GmbH Pharma and Nutraceuticals
("MedCann"), a privately held pharmaceutical importer and
manufacturer, the transfer marks an important milestone for the
Company and the first known incidence of dried cannabis being
exported from a Canadian licensed producer to a major G7
country.
"Introducing Tweed product to German medical cannabis patients
is an exciting and groundbreaking event," said Bruce Linton, Chairman and CEO of Canopy Growth.
"Patients will soon have a new choice in variety for their medical
cannabis, and we are honoured to be involved in the changing
landscape for German access and choice."
Germans can presently access legal medical cannabis through
pharmacies for a variety of medical conditions, though adequate
domestic production has not yet been established. Tweed will launch
an initial two strains in Germany,
and hopes to bring further variety to market as soon as
possible.
"As the German population now knows, the regulatory aspects and
laws concerning medical cannabis have evolved to address the
growing needs of medical cannabis patients in Germany," said Dr. Pierre Debs, co-founder of MedCann. "Now, in the
summer of 2016, through the concerted efforts of MedCann and Tweed,
patients across Germany can be
assured of a new supply and variety of the highest quality medical
cannabis."
Building on recent announcements in Australia and Brazil, Canopy has now partnered to bring its
products, expertise and brands to four continents. In
addition to providing products for sale to the German market,
Canopy through its subsidiaries Bedrocan Canada and Tweed, is
increasingly focused on the provision of dried cannabis and
cannabis oils for the purpose of clinical trials and research to
ensure healthcare practitioners, government policy leaders and
patients have the best available evidence to make informed
decisions on medical cannabis within their regulatory frameworks
and practices.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is publicly traded on the TSX-Venture exchange,
and a leading diversified producer of medical cannabis through its
wholly owned subsidiaries Tweed, Bedrocan Canada, and Tweed Farms.
The Company operates a collection of diverse brands and curated
strain variety, supported by over half a million square feet of
indoor and greenhouse production capacity.
About Tweed
Tweed is the most recognized marijuana production brand in the
world. It has built a large and loyal following by focusing on
quality products and meaningful customer relationships. Tweed
doesn't just sell marijuana, it facilitates a conversation about a
product we've all heard about but haven't met intimately yet.
Tweed production occurs across two distinct production sites.
Tweed Smiths Falls is housed in
the former Hershey Chocolate factory at 1 Hershey Drive, and
comprises 40 acres of land with over 500,000 sq. ft. of available
space. Tweed occupies 168,000 sq. ft. of licensed production space,
plus office space where Canopy's head office drives the vision
forward. It is a data-driven, automated and lean operation, housing
an R&D facility, oil extraction infrastructure, and in-house
lab. Precise climate controlled spaces for each stage of cannabis
production, from clone to cured bud, allows for the highest quality
and widest variety of product in the sector.
Tweed Farms is the largest marijuana-producing greenhouse in the
world, with over 350,000 square feet of licensed cannabis
production space. The scale and the passive processes allow the
Farm to produce environmentally friendly cannabis at an extremely
competitive cost per gram. The Farm combines traditional and
state-of-the art agricultural techniques, using the natural power
of the sun and recycled rainwater to nurture genetically identical
plants produced in the on-site tissue culture propagation lab.
Tweed is partnered with some of the leading names in the sector
including legendary breeders DNA Genetics and iconic cannabis
connoisseur Snoop Dogg.
About MedCann GmbH Pharma and Nutraceuticals
MedCann GmbH was founded in June
2015 by Dr. Pierre Debs and
Rainer Hofmann. MedCann GmbH is an
importer, manufacturer and distributor of medical cannabis products
and is federally licensed by the German Heath Ministry. Dr. Debs is
a stem cell biologist with over 25 years research experience at
world class research universities in the US and Europe. Rainer
Hofmann is a successful businessman having established and
directed a variety of businesses in the Heidelberg area for over 20 years. MedCann
GmbH operates under strict GMP and GDP guide-lines for all aspects
of sourcing, transporting and releasing medical cannabis
products.
Forward Looking Statement
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