LIMA, Peru and
SMITHS FALLS, ON, Jan. 9, 2019 /PRNewswire/ - Canopy Growth
Corporation (TSX: WEED) (NYSE: CGC) (the "Company" or "Canopy
Growth"), through its Latin American-focused subsidiary, Canopy
LATAM Corporation ("Canopy LATAM"), is proud to introduce Spectrum
Cannabis Peru S.A.C. ("Spectrum Cannabis Peru"), the newest member
of the growing global Spectrum Cannabis family.
Spectrum Cannabis Peru will operate as part of the Canopy LATAM
network and with Peru poised to
introduce new regulations for the use of medical cannabis, this new
in-market entity is uniquely positioned to support the opening of
the Peruvian market while leveraging Canopy Growth's global
expertise in patient and physician education, as well as in medical
cannabis production.
This announcement directly supports Canopy Growth's strategy of
securing first mover advantage to realize the opportunities
generated by evolving cannabis regulations across the region and
the world. Until regulations are published supporting patient
access to medical cannabis, Spectrum Cannabis Peru will focus on
advancing education activities, including working closely with the
medical community to foster greater understanding of the potential
uses of medical cannabis while reducing stigma.
Supporting education, regulation, and patient access for
medical cannabis across Latin
America
While in Lima to participate in
the launch of Spectrum Cannabis Peru, Dr. Mark Ware, Canopy Growth's Chief Medical
Officer, is advancing the Company's commitment to education through
participation in a range of medical cannabis-focused events for
physicians, healthcare professionals, and cannabis-focused patient
groups.
This includes addressing healthcare professionals currently
attending an introductory course on cannabis held by the medical
college of Peru ("Colegio Medico
del Peru"), as well as delivering
an address and participating in the First Meeting of American
Professional Experts working with Phytocannabinoids ("1° Encuentro
Americano De Professionales Expertos En Fitocannabioides") held in
Lima from January 10 to 11.
The conference will also see Dr. Ware, in his capacity as a
family physician focused on pain management, participate in the
signing of the Lima Declaration on the medical use of cannabis.
This physician-led declaration encourages governments, regulators,
and health authorities throughout the region to ensure patient
access and scientific research are the cornerstones of all
Latin America medical cannabis
laws.
Further, the declaration promotes collaboration across the
region, and calls on healthcare professionals to contribute to
informed access for cannabis-based medicines while asking patients
to advocate and defend their right to such treatments.
A leap forward for sustainable regional production through
Spectrum Cannabis Colombia
As previously announced, production operations are advancing at
the Company's farm in Colombia,
with initial cultivation having started in late 2018. In line with
the plan for sustainable regional production based in the country,
the Company is pleased to report that licenses have now been
received for the production of cannabis in all 126 hectares (13.6
million sq. ft.) of suitable growing area at the farm.
This is an increase from the previously licensed 42 hectares
(4.5 million sq. ft.) of production area and to the Company's
knowledge, the wholly owned farm now represents one of the largest
fully licensed cannabis production facilities in the world. This
also positions Canopy Growth to meet the emerging regional supply
demands as a number of countries across Latin America update their regulations and in
so doing, open their markets for the import and sale of Spectrum
Cannabis' high-quality cannabis-based medical products.
Continued development of Canopy LATAM and local in-market
entities
As regulations across the region continue to evolve at a rapid
pace, Canopy Growth is well positioned to seize these new
opportunities through its subsidiary Canopy LATAM, and the
in-market entities that work collectively as part of the Company's
LATAM structure. A full leadership team is now in place at both the
regional and local level to guide these activities and draws on
extensive experience from leading organizations in the
pharmaceutical, food and beverage, and consulting industries.
With a fully licensed production site in Colombia, newly launched operations in
Peru, a rapidly evolving landscape
in Mexico, and clinical trials
underway in Chile, Canopy LATAM
and Canopy Growth are uniquely positioned to realize the
significant opportunities across Latin
America with the ultimate goal of serving patients through
education and high quality, reliable, medical cannabis
products.
Quotes from leadership
"We're proud to welcome Peru to
the growing family of Spectrum Cannabis countries and to have the
chance to serve Peruvian patients and healthcare professionals in
the future," said Mark Zekulin,
President and Co-CEO, Canopy Growth. "Canopy Growth is a global
leader in providing safe, regulated, medical cannabis and by
leveraging our experience together with local expertise, we look
forward to helping build a responsible Peruvian cannabis industry
today and into the future."
"The landscape for medical cannabis continues to evolve rapidly
in Latin America and Peru is poised to take a leading role with the
introduction of new regulations which we hope will prioritize
patient access", said Antonio
Droghetti, Managing Director, Canopy LATAM. "Launching
Peruvian operations enhances our ability to engage with regulators,
healthcare professionals, and patients to ensure they have the
information they need while also preparing for the future sale of
medical cannabis products across the country."
"With the full licensing of our 126-hectare farm, Spectrum
Cannabis Colombia and Canopy Growth have demonstrated yet again our
ability to execute and prepare for the rapidly rising demand that
exists for medical cannabis", said Bibiana
Rojas, Country Managing Director, Spectrum Cannabis
Colombia. "Our ambitious goal of sustainable regional production
for medical cannabis is one step closer in Latin America and we're proud to play a role
in increasing the total potential production of Canopy Growth as it
builds markets internationally."
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. Canopy Growth offers the
world's only medically approved vaporizers through the Company's
subsidiary, Storz & Bickel GMbH & Co. KG. 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. The
Company has operations in 13 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 wholly owned subsidiary,
Canopy Health Innovations ("Canopy Health"), has devoted millions
of dollars toward cutting edge, commercializable research and IP
development. Canopy Growth works with the Beckley Foundation and
has launched Beckley Canopy Therapeutics to research and develop
clinically validated cannabis-based medicines, with a strong focus
on intellectual property protection. Canopy Growth acquired assets
of leading hemp research company, ebbu, Inc. ("ebbu"). Intellectual
Property ("IP") and R&D advancements achieved by ebbu's team
apply directly to Canopy Growth's hemp and THC-rich cannabis
genetic breeding program and its cannabis-infused beverage
capabilities. 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 on the Toronto
Stock Exchange and New York Stock Exchange to our continued
international expansion, pride in advancing shareholder value
through leadership is engrained in all we do at Canopy Growth.
Canopy Growth has established partnerships with leading sector
names including cannabis icon Snoop Dogg, breeding legends DNA
Genetics and Green House seeds, Battelle, the world's largest
nonprofit research and development organization, and Fortune 500
alcohol leader Constellation Brands, to name but a few. Canopy
Growth operates ten licensed cannabis production sites with over
4.3 million square feet of production capacity, including over
500,000 square feet of GMP certified production space. The Company
operates Tweed retail stores in Newfoundland and Manitoba and has entered into supply
agreements with every Canadian province and territory. 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 international operations in the LATAM region. 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 27, 2018 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.
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SOURCE Canopy Growth Corporation