SMITHS FALLS, ON, Dec. 12, 2016 /CNW/ - Tweed Inc. (Tweed), a
wholly owned subsidiary of Canopy Growth Corporation (Canopy Growth
or the Company) (TSX: CGC) has received a Dealers Licence pursuant
to the provisions of the Controlled Drugs and Substances Act
and its Regulations and will now begin operating this purpose built
area, built to GMP specifications, within its production facility
in Smiths Falls, Ontario. The
issuance of the licence follows an extensive multi-year process
that included application, design, construction and security
clearance of key personnel.
Licensed activities will occur in a distinct area of the
facility focused on strategic projects beyond Tweed's existing
operational scope. As a licensed dealer, Tweed will be able to
conduct research and possess cannabis and cannabis derivatives in
forms that are not currently covered by the Access to Cannabis
for Medical Purposes Regulations (ACMPR). It can also begin
development of innovative products for future market opportunities,
and with necessary approvals undertake the export of non-dried form
of cannabis to other jurisdictions.
"Pursuing and achieving this Dealers Licence reinforces Tweed's
commitment to more research, both at Tweed and the recently
launched Canopy Health Innovations," said Bruce Linton, Chairman and CEO of Canopy Growth.
"We have already begun exploring offerings, markets and potential
collaborations for the newly licensed space. We look at this area
of our business like an incubator where we can foster fresh ideas
for the application of cannabinoids that will drive cannabis
innovation forward with the goal of improving our offering to
Tweed's global customers."
Since its launch three years ago Tweed has always had a strong
commitment to research, partnering with some of Canada's leading researchers and allocating
dedicated space to a research area within its licensed
footprint. The Company has since launched a first-in-class
breeding facility, and today's milestone speaks further to Tweed's
ongoing leadership in the cannabis research space, both in
Canada and globally.
Here's to Future Growth.
About Tweed
Tweed is a globally recognized marijuana
production brand. 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. As
marijuana laws liberalize around the world, Tweed will expand its
leading Canadian position around the globe. Learn more at
www.tweed.com.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis company, offering diverse brands
and curated cannabis strain varieties in dried and oil extract
forms. Through its wholly‑owned subsidiaries, Canopy Growth
operates numerous state-of-the-art production facilities with over
half a million square feet of indoor and greenhouse production
capacity. Canopy Growth has established partnerships with
leading sector names in Canada and abroad. For more
information visit www.canopygrowth.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 the TSX Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation