SMITHS FALLS, ON, Jan. 6, 2020 /PRNewswire/ - Tokyo Smoke,
Canopy Growth Corporation's ("Canopy Growth" or the "Company")
(TSX: WEED) (NYSE: CGC) award-winning retail brand, is proud to
announce that it will be working with a total of ten
recently-announced Ontario retail
licence holders to open new Tokyo Smoke branded retail cannabis
stores across the province.
In addition to the five locations announced in November 2019, the following five locations are
now progressing through the process to open doors in
2020:
1180 Queen Street West, Toronto,
ON
21 Bloor Street East, Toronto, ON
235 James Street North, Hamilton, ON
2257 Rymal Road East, Unit D-1, Stoney
Creek, ON
1000 Wellington Avenue Unit 101, Ottawa,
ON
"With ten new stores set to open in the first half of this year,
we are pleased with the momentum we've built and excited to bring
the Tokyo Smoke experience to more Ontarians," said Rade Kovacevic,
President, Canopy Growth. "Increasing Tokyo Smoke's presence across
the province will expand access to high-quality cannabis products
and education, continuing to migrate cannabis sales from the
illicit to the regulated market."
Once licensed, this will bring the number of Tokyo Smoke branded
retail cannabis stores in Ontario
to a total of 12, joining Tokyo Smoke 333 Yonge at Dundas Square in
Toronto, and Tokyo Smoke
Oshawa.
All ten of the new locations have been posted to the Alcohol and
Gaming Commission of Ontario's
("AGCO") website and nine have completed the Public Notice period,
progressing to the next stage in the licensing process.
The new stores, owned and operated by independent business
owners with support available from Canopy Growth's retail team,
will increase Canopy's retail banners across Canada to a total of 37, with more planned
throughout the 2020 calendar year.
This announcement comes the same day the Government of
Ontario takes the first steps to
move to an open market for retail cannabis stores. The AGCO will
begin accepting operator license applications from prospective
retailers on January 6, 2020,
followed by store authorization applications on March 2, 2020. The Company believes this decision
will be integral to providing consumers with more choice and
convenience, and a safe and reliable supply of cannabis.
Here's to Future (Ontario)
Growth, and Joint Efforts.
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 brick and mortar retail stores. 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