ODENSE, Denmark, and
SMITHS FALLS, ON, Dec. 18, 2017 /CNW/ - Further to a December 5th press release announcing
plans to establish a 40,000
m2 facility in the Danish city of Odense, Spectrum Cannabis Denmark has been
issued a cannabis production licence by Laegemiddelstyrelsen,
Denmark's Medicines Agency. Danish
Health Minister, Ellen Trane Nørbye, announced the news today at a
press conference. Spectrum Cannabis Denmark is a partnership
between Danish Cannabis, one of Europe's largest hemp producers, and Canopy
Growth Corporation ("Canopy Growth" or the "Company") (TSX:
WEED).
To the Company's knowledge, this is the first federal production
licence issued to a Canadian cannabis producer anywhere in the
European Union, a major milestone in an emerging market. With the
announcement, Denmark has joined
the Netherlands as the only two
European countries with federally permitted medical cannabis
production.
Speaking to local media, Minister Nørbye commented, "Medical
cannabis has enormous potential and my role as Minister of Health
is to help secure that the new medical cannabis law becomes a
success for patients and for Denmark."
Cannabis produced at the Odense
facility is forecasted to exceed the needs of the Danish market and
will be exported to other federally legal jurisdictions in the
European Union.
"Entering Denmark was a
strategic choice for us because we sensed the country would move
fast to establish federal production capabilities. Using our
expertise and in collaboration with excellent local partners,
Canopy is now set to become the first ACMPR participant to also
produce cannabis products in the European Union," said Bruce Linton, Chairman and CEO, Canopy Growth.
"In 2014 we began with a small Canadian patient group and grew it
rapidly by offering high-quality products and actively engaging
with the medical community. We intend to repeat this model of
success on the other side of the Atlantic and solidify our position
as the global leaders in the cannabis industry."
Canopy Growth has stabilized an industry-leading selection of
cannabis genetics in its Canadian facilities and will ship a
variety of Spectrum Cannabis clones to Odense to begin growth cycles as soon as
spring 2018 when the greenhouse retrofit is targeted to be
complete.
The licence is being issued without conditions, meaning that
Spectrum Cannabis Denmark will not be limited to a production cap
or limited to the product formats it can produce. High quality oils
and dried cannabis flowers will be produced in Odense and sold under the Spectrum Cannabis
brand using the proprietary Spectrum colour-coded strain
classification system.
As in Canada, Canopy Growth
will use its experience to engage the physician community in
Denmark to ensure that physicians
are able to access fact-based information pertaining to dosing, and
prescribing to appropriate patients.
The licence announced today is valid through 2021.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth
is a world-leading diversified cannabis and hemp company, offering
distinct brands and curated cannabis varieties in dried, oil and
Softgel capsule forms. From product and process innovation to
market execution, Canopy Growth is driven by a passion for
leadership and a commitment to building a world-class cannabis
company one product, site and country at a time.
Canopy Growth has established partnerships with leading sector
names including cannabis icon Snoop Dogg, breeding legends DNA
Genetics and Green House seeds, and Fortune 500 alcohol leader
Constellation Brands, to name but a few. Canopy Growth operates
seven cannabis production sites with over 665,000 square feet of
production capacity, including over 500,000 square feet of
GMP-certified production space. The Company has operations in seven
countries across four continents. The Company is proudly dedicated
to educating healthcare practitioners, conducting robust clinical
research, and furthering the public's understanding of cannabis,
and through its partly owned subsidiary, Canopy Health Innovations,
has devoted millions of dollars toward cutting edge,
commercializable research and IP development. Through partly owned
subsidiary Canopy Rivers Corporation, the Company is providing
resources and investment to new market entrants and building a
portfolio of stable investments in the sector. From our historic
public listing to our continued international expansion, pride in
advancing shareholder value through leadership is engrained in all
we do at Canopy Growth. For more information visit
www.canopygrowth.com
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SOURCE Canopy Growth Corporation