ODENSE, Denmark, and
SMITHS FALLS, Ontario,
December 18, 2017 /PRNewswire/ --
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 http://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
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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, its
subsidiaries, or its affiliates 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 Corporation 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.
Jordan Sinclair, Director of
Communications, Jordan@tweed.com, 613-769-4196; Investor Relations,
Tyler Burns,
Tyler.burns@canopygrowth.com , +1-855-558-9333 ex 122; Director:
Bruce Linton, tmx@tweed.com