SMITHS FALLS, ON, June 29, 2018 /CNW/ - Canopy Growth
Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE:
CGC) is pleased to announce that it has completed an agreement with
the Manitoba Liquor and Lotteries Corporation ("MBLL") to supply
the province with high quality cannabis products.
Under the terms of the agreement, Canopy Growth will supply the
Manitoba market with up to 6,500
kilograms of cannabis products over the next twelve months to meet
demand from the adult use recreational cannabis market set to open
on October 17, 2018. Manitobans can
look forward to an industry-leading lineup of products from Tweed,
the best-known cannabis brand in Canada, as well as partner brands including
DNA Genetics and Leafs By Snoop.
The MBLL also retains the right to extend the agreement for up
to an additional twelve months. Additionally, Canopy Growth is
positioned to increase supply at the request of the MBLL.
"Signing a supply agreement with Canopy Growth ensures that
Manitoba residents will have
access to a reliable supply of the most exciting brands and
cannabis products available,'' said Mark
Zekulin, President, Canopy Growth. "As we move closer to a
legal adult use cannabis market, supply agreements like this
directly support Canopy Growth's strategy for capturing and
increasing market share.''
This agreement builds upon the conditional acceptance of the
consortium application submitted by Canopy Growth and Delta 9
Cannabis Inc. to operate retail locations in the province.
Manitoba is the third province, in
addition to Saskatchewan and
Newfoundland & Labrador, where
adult-use consumers can look forward to receiving a Tweed-branded
experience in a brick and mortar environment. Additionally, Canopy
Growth expects to make an announcement on the locations of its
retail stores across the Province in the near future.
As an indication of its readiness for the recreational market,
Canopy Growth has completed supply agreements with five provinces
and one territory, including New
Brunswick, Newfoundland
& Labrador, Prince Edward
Island, Quebec,
Yukon, and now Manitoba totaling 31,500 kilograms of
diversified cannabis products in the first year of legal sales with
varying incremental multi-year obligations by province.
With an industry leading production platform, completed supply
agreements, and dedicated retail where allowed by provincial
regulations, Canopy Growth is well positioned to meet the demand
from this new and exciting market in Manitoba and across Canada.
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 ten
cannabis production sites with over 2.4 million square feet of
production capacity, including over 500,000 square feet of
GMP-certified production space. The Company has operations in eight
countries across five 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
Notice Regarding Forward Looking Statements
This news
release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and "forward-looking information" within the meaning of applicable
Canadian securities legislation. Often, but not always,
forward-looking statements and information 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 or information involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Canopy Growth or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements or information contained in this news
release. Examples of such statements include statements with
respect to "future retail in the province of Manitoba". Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information, including the Company's ability to
satisfy provincial sales contracts or provinces purchasing all
cannabis allocated to them, and such risks contained in the
Company's annual information form dated June
28, 2017 and filed with Canadian securities regulators
available on the Company's issuer profile on SEDAR at
www.sedar.com. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information or
forward-looking statements in this news release are reasonable,
undue reliance should not be placed on such information and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The forward-looking information and
forward-looking statements included in this news release are made
as of the date of this news release and the Company does not
undertake an obligation to publicly update such forward-looking
information or forward-looking information to reflect new
information, subsequent events or otherwise unless required by
applicable securities laws.
SOURCE Canopy Growth Corporation