SMITHS FALLS, ON, Aug. 11, 2016 /CNW/ - Today the Government
of Canada announced that
regulations governing medical marijuana would be amended, as
expected, by August 24th,
2016, and that the majority of the previously repealed Marihuana
Medical Access Regulations (MMAR) would form a part of an interim
system, introduced to satisfy the requirements set out by the
courts in the truncated timeline the government was given to
respond. Canopy Growth Corporation (TSX:CGC) ("Canopy Growth"
or "the Company"), parent company of licensed producers Tweed Inc.
("Tweed"), Bedrocan Canada Inc. ("Bedrocan Canada") and Tweed Farms
Inc. ("Tweed Farms") is pleased to provide the following response
to today's announcement.
For our patients and the 95% of people who don't abuse
the privilege of growing at home, this is positive news. Our
Company has openly supported the right of patients to grow at home,
and we welcome this new option for patients. Choice is a good
thing, and those who wish to grow moderate amounts of cannabis at
home for personal consumption should be allowed to do so.
For Tweed and Bedrocan Canada, it truly is business as
usual. The reality in Canada today
is that patients already have significant choice. Legal or
not, many people already choose to grow at home, or to access
cannabis through an illegal dispensary. In addition, they can
choose from over 30 licensed producers of cannabis.
Since we began three years ago as a start-up business in
Smiths Falls, it has been our
mission to offer products and services that stand out among these
options. Patients have always had choice and we have never taken
that for granted.
Today, Canopy Growth is proud to welcome our
20,000th customer to join the Canopy family. As of
today, our Company has garnered the trust and support of over
20,000 Canadians, representing more than half of all those who ever
joined the MMAR system in its 13 years of existence. We offer our
customers a convenient way to access a wide variety of cannabis
products produced to the highest quality standards in the
world.
We have taken great strides to normalize medical cannabis use
through political advocacy, physician education and stakeholder
outreach. We're confident that through our work, we've improved
access to medical cannabis for tens of thousands of Canadians. We
will continue this important work until medical cannabis is fully
incorporated into the Canadian healthcare system.
Adhering to the strict quality-assurance regulations developed
by Health Canada, Tweed, Tweed Farms and Bedrocan Canada have
proven our ability to produce products that provide physicians and
patients with peace of mind. We are confident that given the
option, our ability to produce world-class products in a
cost-effective manner will be the preferred method for the vast
majority of Canadians.
So where to now?
While we support a patient's right to grow at home, the MMAR and
the grow-at-home system it represents is not good policy. All
of the flaws that existed in 2013 when the government concluded
after extensive consultation that the MMAR presented elevated
diversion risks, abuse of plant limits, and an inability for law
enforcement to know legal from illegal cannabis – still exist
today.
While we believe this is a short-term initiative, with a broader
overhaul of cannabis policy expected in the coming months, it is
still a setback for the advancement of sound cannabis policy and
Canada's global leadership in
cannabis regulation.
Though we can't control government policy, we can control what
we do with it. To the extent this short-term opportunity
allows us, we want to help customers explore "grow at home" outside
their home. We'll rent you the space, genetics and supplies,
and we'll help you to grow your own plants at our (non-MMPR)
facilities. Home grow without your home, only from
Tweed.
Make no mistake: in our view, there is no substitute for clean,
convenient, quality-assured cannabis at competitive prices. But if
you want to grow your own cannabis, Tweed would be proud to assist
you in that journey, insofar as the rules allow. Maybe yet
another option, from your friends at Tweed.
Here's to future growth – in a number of ways.
About Canopy Growth Corporation
Canopy Growth Corporation is the first and only federally
regulated cannabis producer to be listed on a major stock exchange.
The Company owns and operates two of Canada's leading sellers of medical cannabis,
Tweed and Bedrocan Canada, and the largest legal growing facility
in the world, Tweed Farms. These companies operate highly regulated
production facilities in Ontario,
producing world-class cannabis products for Canadians managing
serious medical conditions. In three years it has developed a
leadership position in the market by establishing a presence on
four continents, developing ground breaking physician education
programs, and launching EQUAL, the largest clinical cannabis trial
in the world.
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. It is
approachable and friendly, yet reliable and trusted.
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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
the anticipated closing and closing date of the Offering and
anticipated use of proceeds. The forward-looking statements
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publicly update such forward-looking statements to reflect new
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SOURCE Canopy Growth Corporation