SMITHS FALLS, ON, Feb 21, 2017 /CNW/ - Canopy Growth Corporation
("Canopy" or the "Company") (TSX: WEED) is pleased to announce that
it has entered into a memorandum of understanding ("MOU") with
Namaste Technologies Inc. ("Namaste") (CSE: N, FSE: M5BQ), an
emerging leader in the vaporizer and accessories space with 26
e-commerce retail stores in 20 countries. This MOU represents an
opportunity for the companies to work together to educate customers
on the legal, regulated cannabis framework in Canada, encourage the use of vaporizing
technology over smoking, and introduce cross-brand exposure among
their respective clients. Namaste's database consists of
approximately 300,000 customers that generate upwards of 600,000
site visits monthly. Approximately 28,000 of these monthly
site visits are generated from customers residing in Canada.
The purpose of the MOU is to define the intention of Namaste and
Canopy to expand their respective market positions by seeking to
form multi-point working arrangements and exploring the development
of new delivery devices for the consumption of cannabis. Pursuant
to the terms of the MOU, Namaste and Canopy will work together to
educate Namaste's Canada-based
clients on the legal, regulated framework for medical cannabis.
Namaste will also support Canopy on the development of Canopy
branded vaporizers and accessories.
The commercial aspects of this partnership will be further
expanded through a multi-function working group of Namaste and
Canopy.
Here's to Future Growth.
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.
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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.
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(as that term is defined in policies of the TSX Exchange) accepts
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SOURCE Canopy Growth Corporation