SMITH FALLS, ON, Sept. 28, 2017
/CNW/ - Canopy Growth Corporation ("Canopy Growth" or the
"Company") (TSX: WEED) and Skinvisible Pharmaceuticals, Inc.
("Skinvisible") (OTCQB: SKVI), a research and development company
with a patented drug delivery system, today announced they have
signed a definitive license agreement for Skinvisible's patented
topical formulations. Per the agreement, Canopy Growth is
exclusively licensed to distribute Skinvisible's topical products
in Canada and shall have a first
right of refusal for all other countries, excluding China and the United
States.
The agreement covers two distinct product lines made with
Skinvisible's Invisicare® technology. Skinvisible will first
develop unique topical hemp-based products that will be launched by
Canopy Hemp Corporation in Canada.
The agreement also includes potential cannabis-based topical
products using the Invisicare® technology, when and if federal
regulations permit CBD or THC infused topical products for sale in
Canada.
"This agreement will have an immediate impact on our hemp
product lines as this proven technology can be applied to a hemp
oil product in today's regulatory environment," said Mark Zekulin, President, Canopy Growth. "Moving
forward, cannabis product diversity will be increasingly important,
and this agreement prepares us for future product opportunities on
that side of our business, if and when the regulatory environment
evolves."
"This agreement with Canopy Growth Corporation is a significant
milestone for Skinvisible," said Skinvisible President Terry Howlett. "Canopy Growth is the leader and
innovator in the cannabis space with over half a million square
feet of GMP-certified cannabis cultivation, a robust hemp
operation, multiple commercialized brands in Canada, and rapid international expansion and
partnerships underway including Germany, Australia, Brazil, Chile, Denmark and Spain. Canopy Growth is the perfect partner to
take Skinvisible's topical products globally, always in keeping
with its reputation for only pursuing federally legal
opportunities."
The demand for topically delivered cannabis is increasing,
driven by consumer awareness of its medical benefits and favorable
legislative changes worldwide. Invisicare, a technology with
14 international patents, is able to improve upon the delivery of
ingredients (i.e., CBD or THC), delivering up to 5 times more than
brand leaders.
Canopy Hemp is working hard to bring the benefits of hemp
to consumers in meaningful ways. This agreement
demonstrates the value in bridging our existing hemp assets
with on-trend products.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company,
offering distinct brands and curated cannabis varieties in dried,
oil and capsule forms. Through its wholly‑owned subsidiaries,
Canopy Growth operates numerous state-of-the-art production
facilities with over half a million square feet of GMP-certified
indoor and greenhouse production capacity, all to an unparalleled
level of quality assurance procedures and testing. Canopy Growth
has established partnerships with leading sector names in
Canada and abroad, with interests
and operations spanning four continents. The Company is proudly
dedicated to educating healthcare practitioners, providing
consistent access to high quality cannabis products, conducting
robust clinical research, and furthering the public's understanding
of cannabis. For more information visit www.canopygrowth.com.
About Skinvisible Pharmaceuticals, Inc.
Skinvisible
Pharmaceuticals is a research and development company that licenses
its proprietary formulations made with Invisicare®, its patented
polymer delivery system that offers life-cycle management and
unique enhancements for topically delivered products. Invisicare
holds active ingredients on the skin for extended periods of time,
allowing for the controlled release of actives. For more
information, visit www.skinvisible.com or www.invisicare.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
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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