SMITH FALLS, ON, May 12, 2020
/CNW/ - Canopy Growth Corporation ("Canopy Growth" or the
"Company") (TSX: WEED) (NYSE: CGC) officially unveiled its Cannabis
2.0 portfolio in late 2019 and is pleased to provide the following
updates on the Company's 2.0 innovation products that have launched
into the Canadian recreational market in early 2020, and additional
upcoming product releases.
The first wave of the Company's ready-to-drink cannabis-infused
beverages – Tweed Houndstooth & Soda and Tweed
Bakerstreet & Ginger — shipped in March 2020 and April
2020, respectively. Houndstooth & Soda — the first
THC-infused ready-to-drink beverage to hit the Canadian market
— garnered positive early reviews and strong consumer demand across
the country, with further shipments having since been sent to
provincial boards and retailers to meet ongoing demand. Canadians
can expect to see two additional beverages — Houseplant
Grapefruit and Deep Space — available through retail
and e-commerce platforms within the coming weeks.
"We are proud to see the early responses to our infused
beverages," shared CEO David Klein.
"Our beverage innovation team took a flavour-first approach with
our drinks, and the first four offerings to hit the market
demonstrate the range of our portfolio, with flavour profiles that
will satiate our consumers' palates. We have said all along that
infused beverages were going to be game-changer for our industry
and we are excited to introduce this new product category to even
more Canadian adult consumers in the coming weeks."
Canopy Growth also released four cannabis-infused chocolate SKUs
in early 2020 — Tokyo Smoke Pause, Tokyo Smoke Go, Tweed
Houndstooth & Mocha, and Tweed Bakerstreet &
Peppermint. Produced in Canopy's bean-to-bar chocolate factory in
Smiths Falls, Ontario, the premium
THC-infused bars have been a hit with consumers.
Since early 2020, Canopy Growth released a number of innovative
vape pen components including batteries, pods, and 510 cartridges.
Tokyo Smoke Luma — a premium, design-forward closed-loop
system featuring a rechargeable battery and interchangeable pods,
is currently available in Tokyo Smoke's 'Go' (sativa
dominant) Intent, with 'Pause' (indica dominant) being
released shortly. JUJU Power, the Company's rechargeable
UL-Certified 510 vape battery is compatible with our 510 cartridges
currently on the market, including Tweed
Houndstooth (sativa dominant), Tweed Bakerstreet
(indica dominant), Twd. Indica, and soon-to-be-released
Twd. Sativa. Tweed's 510 cartridges and JUJU Power are also
available for medical patients via the Spectrum Therapeutics online
store.
Canopy's 510 threaded vape cartridges were designed using
surgical-grade steel and borosilicate glass, and all vape
electronics components are produced using the UL 8139 Certified
Safe Manufacturing standard. The premium distillate in the pods and
cartridges contains only cannabis and terpenes, free of
polyethylene glycol, vegetable glycerin or vitamin E acetate. Vape
formulations and hardware were designed in tandem throughout every
step of the development process to ensure optimal performance when
paired.
In addition to the above-noted 2.0 innovation products, Canopy
Growth recently launched its ~ 1 ounce SKUs — Twd. 28
Sativa and Twd. 28 Indica — via Twd., the Company's
value cannabis brand. The Company believes that consumers have the
right to high quality, high THC flower at an accessible price, and
Twd.28 was developed to provide
potency and value for purchasers who prefer to buy their cannabis
by the ounce. The introduction of competitively priced bulk
offerings into the legal Canadian recreational market will also
continue to help to shift sales from the illicit market.
SKU availability by region will vary depending on provincial
product listings and distribution models. For specific product
availability consumers are encouraged to check in with their local
retailer or provincial e-commerce channels.
"We are extremely proud of everything we've accomplished so far
in 2020," said Klein. "Despite challenging circumstances both at
home and around the globe, our production teams and dedicated staff
have worked tirelessly to bring these innovative new products to
consumers."
Here's to Future (Innovative) 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 7.5 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 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 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.
SOURCE Canopy Growth Corporation