LAVAL, QC and SMITHS FALLS, ON, Feb.
21, 2019 /CNW Telbec/ - Alimentation Couche-Tard Inc.
("Alimentation-Couche-Tard") (TSX: ATD.A) (TSX: ATD.B) has entered
into a multi-year agreement with Canopy Growth Corporation ("Canopy
Growth") (TSX: WEED) (NYSE: CGC).
Subsequent to this newly formed strategic partnership, and
pending the results of a public-consultation process, Alimentation
Couche-Tard is excited to announce it has entered into a trademark
license agreement with one of the winners of the Alcohol and Gaming
Commission of Ontario's (the
"AGCO") Expression of Interest Application Lottery, who will
operate a "Tweed" branded retail store in London, Ontario, once the process is complete.
The lottery winner will have full ownership and control over the
London store.
Through this partnership, Alimentation Couche-Tard is aiming to
lean on Canopy Growth's cannabis expertise and leverage its
experience with other age-restricted products to focus on the safe,
responsible and lawful sale of cannabis, consistent with
the legislation enacted by the federal and provincial governments.
As two Canadian-made and globally-positioned companies, the
London location will serve as an
important entry to market that could lead to future international
opportunities.
"Alimentation Couche-Tard is excited about taking a leadership
role in the development of cannabis retailing excellence in this
major Canadian market. We believe the Ontario Cannabis Store and
private retailers will co-exist under a tightly regulated framework
with common goals to protect public health and safety," added
Brian Hannasch.
TWEED RETAIL-BRAND: EDUCATION CENTRIC
Canopy Growth's Tweed brand, with brick and mortar locations
currently in Saskatchewan,
Manitoba, and Newfoundland and Labrador, is widely known across Canada as a trusted cannabis source with a
deep understanding of how to best educate consumers on each of
their unique cannabis needs. Tweed has exemplified an unparalleled
commitment to quality, customer service, and an education-based
sales experience in each of its retail stores.
"We are proud to be working with a leading global company like
Alimentation Couche-Tard to advise and assist in bringing a trusted
cannabis brand to the people of London,
Ontario. Our brand is synonymous with having informed staff
who can help consumers find the right option for them, whether they
are a new or an experienced consumer," says Mark Zekulin, President and Co-CEO of Canopy
Growth.
STORE EXPECTED TO OPEN IN APRIL
2019
Located at 1025 Wellington Road in London, the licensed Tweed store is expected
to open in April 2019 and will carry
softgels, oils, and dried flower products along with a selection of
accessories that will allow customers to choose their own preferred
way to consume cannabis, safely and responsibly.
ABOUT ALIMENTATION COUCHE-TARD
Alimentation Couche-Tard is the leader in the Canadian
convenience store industry. In the United
States, it is the largest independent convenience store
operator in terms of the number of company-operated stores. In
Europe, Alimentation Couche-Tard
is a leader in convenience store and road transportation fuel
retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic countries (Estonia, Latvia and Lithuania), as well as in Ireland and also has an important presence in
Poland.
As of October 14, 2018,
Alimentation Couche-Tard's network comprised 9,943 convenience
stores throughout North America,
including 8,660 stores with road transportation fuel
dispensing. Its North American network consists of 19 business
units, including 15 in the United
States covering 48 states and 4 in Canada covering all 10 provinces.
Approximately 105,000 people are employed throughout its network
and at its service offices in North
America. In addition, through CrossAmerica Partners LP,
Alimentation Couche-Tard supplies road transportation fuel under
various brands to approximately 1,300 locations in
the United States.
In Europe, Alimentation
Couche-Tard operates a broad retail network across Scandinavia,
Ireland, Poland, the Baltics and Russia through ten business units. As of
October 14, 2018, Alimentation
Couche-Tard's network comprised 2,718 stores, the majority of which
offer road transportation fuel and convenience products while the
others are unmanned automated fuel stations which only offer road
transportation fuel. Alimentation Couche-Tard also offers other
products, including stationary energy, marine fuel and aviation
fuel. Including employees at branded franchise stores,
approximately 25,000 people work in its retail network, terminals
and service offices across Europe.
In addition, under licensing agreements, more than 2,000 stores
are operated under the Circle K banner in 14 other
countries and territories (Cambodia, China, Costa
Rica, Egypt, Guam, Honduras, Hong
Kong, Indonesia,
Macau, Mexico, Mongolia, Saudi
Arabia, the United Arab
Emirates and Vietnam),
which brings the worldwide total network to approximately 16,000
stores.
For more information on Alimentation Couche-Tard Inc. or to
consult its quarterly Consolidated Financial Statements and
Management Discussion and Analysis, please visit:
http://corpo.couche-tard.com.
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 partly 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.
FORWARD-LOOKING STATEMENTS
The
statements set forth in this press release, which describes
Alimentation Couche-Tard's objectives, projections, estimates,
expectations or forecasts, may constitute forward‑looking
statements within the meaning of securities legislation. Positive
or negative verbs such as "believe", "can", "shall", "intend",
"expect", "estimate", "assume" and other related expressions are
used to identify such statements. Alimentation Couche-Tard would
like to point out that, by their very nature, forward-looking
statements involve risks and uncertainties such that its results,
or the measures it adopts, could differ materially from those
indicated in or underlying these statements, or could have an
impact on the degree of realization of a particular projection.
Major factors that may lead to a material difference between
Alimentation Couche‑Tard's actual results and the projections or
expectations set forth in the forward-looking statements include
the effects of the integration of acquired businesses and the
ability to achieve projected synergies, fluctuations in margins on
motor fuel sales, competition in the convenience store and retail
motor fuel industries, exchange rate variations, and such other
risks as described in detail from time to time in the reports filed
by Alimentation Couche-Tard with securities authorities in
Canada and the United States.
Unless otherwise required by applicable securities laws,
Couche-Tard disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
information in this release is based on information available as of
the date of the release.
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 product format offerings. 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 Alimentation Couche-Tard Inc.