Canopy Growth Now Has All "Cannabis 2.0" Related Licences
Required for Vapes, Beverages, and Chocolates Now in Hand
SMITHS FALLS, ON, Nov. 25, 2019 /CNW/ - Canopy Growth
Corporation ("Canopy Growth" or the "Company") (TSX: WEED), (NYSE:
CGC) is pleased to announce today that on November 22, 2019, it received its operating and
secure storage licence from Health Canada for its 150,000 sq. ft.
beverage facility located at company headquarters in Smiths Falls, ON.
The new facility is operational and will begin producing
cannabis-infused beverages today. The beverage facility adds to the
complement of cannabis production facilities in Smiths Falls including a regional distribution
centre with automated excise stamp lines, an automated
manufacturing facility, a state-of-the-art bean-to-bar chocolate
factory, and a first-of-its-kind Visitors Centre.
"This licence represents years of hard work to bring our vision
to life. We are deeply proud of the team's hard work and dedication
that has brought us from the tear-down of the original building in
early 2019, through to the completion and licensing of our brand
new facility," said Mark Zekulin,
CEO of Canopy Growth. "We also appreciate the support of our
partner, Constellation Brands, who lent their expertise from
building and equipment design to staffing requirements for this
world-class facility. Cannabis beverages have the potential to
introduce an entirely different demographic to the cannabis
category by presenting them with a familiar product format and an
onset time akin to beverage alcohol."
Eleven beverages, all based on the company's unique Distilled
CannabisTM process will be produced in the Smiths Falls facility during the first wave of
production, with more added throughout the year. This licence
positions the Company to begin shipping beverage inventory to the
provinces within weeks. Timing of specific product availability
will vary by province.
Canopy Growth's industry-leading platform across Canada now includes over 10.5 million sq. ft.
of existing, fully licensed production capacity, along with
award-winning brands, a network of licenced retail stores, and a
proven track record as a globally leading cannabis company. With
this critical operating licence, Canopy Growth is fully prepared to
supply the Canadian market with a variety of innovative new
"Cannabis 2.0" products including beverages, chocolates, and
vapes.
Here's to Future Growth.
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 Canopy Growth'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. Canopy Growth has
operations in over a dozen countries across five continents.
Canopy Growth'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.
Canopy Growth 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 eleven licensed cannabis production
sites with over 10.5 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 necessary operating and storage licences from Health
Canada. 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 25, 2019 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