THE COMPANY AND BOARD OF DIRECTORS THANK TIM SAUNDERS FOR
CONTRIBUTIONS IN SHAPING CANOPY GROWTH'S CULTURE AND SUCCESS
SMITHS FALLS, ON, May 21, 2019 /PRNewswire/ - Canopy Growth
Corporation ("Canopy Growth" or the "Company") (TSX:
WEED) (NYSE: CGC) is pleased to announce the appointment of
Mike Lee to its executive leadership
team in the acting role of Chief Financial Officer (CFO), effective
June 1, 2019. Mike's permanent role
as CFO will commence upon receiving Health Canada security
clearance required for all Officers and Directors of the
Company.
Mike brings a wealth of experience from the consumer goods &
beverages industry, having worked for companies such as E. & J.
Gallo Winery, PepsiCo, and recently Constellation Brands, where he
served as Senior Vice President & CFO for their US$3B Wine & Spirits Division. He worked
closely with Constellation Brands' executive leadership to
transform their premium Wine & Spirits business, applying
financial rigor along the way with a true sense of urgency that
translated strategy into action. Mike also led the business
transformation agenda at Constellation Brands, focused on digital
enablement and operating model design. Most recently, Mike has
served in the role of Executive Vice President, Finance at Canopy
Growth Corporation.
Mike's experience across these mature, category-leading CPG
companies along with his experience in business transformation will
be an asset as Canopy Growth continues to scale at an exponential
rate. Taking advantage of his established strengths in developing
high-performance teams, delivering financial results, and his
ability to translate strategy into execution will help the
Company's leadership chart a course for the future.
Tim Saunders, whose invaluable
contributions to the Company's direction, finance leadership, and
culture will continue to serve the executive team and Board of
Directors of Canopy Growth as a strategic advisor in areas of
mergers and acquisitions, corporate financing, and business
transformation.
"When I welcomed Tim four years ago, Canopy Growth had a market
cap of $93 million, two partially
licensed production sites in Ontario and a single acquisition under our
belt. After more than 26 acquisitions, 8 financings worth over
$6.2 billion, the sector's first TSX
and NYSE listings, and reaching a market cap of $21 billion, Tim exemplifies what it means to be
a leader at Canopy Growth," said Bruce
Linton, Chairman and Co-CEO, Canopy Growth. "As Tim
transitions roles, I am also pleased to elevate Mike into the
acting CFO role. His philosophy, accomplishments and all-around
track record give me confidence that the Company's financial health
and governance are in good hands. I look forward to working more
closely with Mike, benefitting from his vision and expertise as the
Company continues growing, both at home and abroad."
The Board of Directors, co-CEOs Bruce
Linton and Mark Zekulin,
along with the whole Canopy Growth family, thank Tim Saunders for his dedication and leadership.
Having championed the financial health of the Company through an
aggressive phase of M&A growth, multiple financing rounds, and
historic listings on the TSX and NYSE, both firsts for cannabis
companies, Tim's impact on Canopy Growth is permanent and sincerely
appreciated.
Here's to Future Growth (now with Mike!).
About Canopy Growth Corporation
Canopy Growth
(TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp
and cannabis device company, offering distinct brands and curated
cannabis varieties in dried, oil and Softgel capsule forms, as well
as medical devices 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 over a dozen countries across five continents.
The Company's medical division, Spectrum Therapeutics is proudly
dedicated to educating healthcare practitioners, conducting robust
clinical research, and furthering the public's understanding of
cannabis, and has devoted millions of dollars toward cutting edge,
commercializable research and IP development. Spectrum Therapeutics
sells a range of full-spectrum products using its colour-coded
classification Spectrum system as well as single cannabinoid
Dronabinol under the brand Bionorica Ethics.
The Company operates retail stores across Canada under its award-winning Tweed and Tokyo
Smoke banners. Tweed is a globally recognized cannabis brand which
has built a large and loyal following by focusing on quality
products and meaningful customer relationships.
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 icons Snoop Dogg and Seth
Rogen, breeding legends DNA Genetics and Green House Seeds,
and Fortune 500 alcohol leader Constellation Brands, to name but a
few. Canopy Growth operates ten licensed cannabis production sites
with over 4.4 million square feet of production capacity, including
over one million square feet of GMP certified production space. 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 changes to the leadership team. 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