YORKTON, SK, May 2, 2017 /CNW/ - Canopy Growth
Corporation (TSX: WEED) ("Canopy Growth" or the "Company") is
pleased to announce the closing of the previously announced
acquisition of rTrees Producers Limited Inc., a late-stage
applicant in Health Canada's Access to Cannabis for Medical
Purposes Regulations. If and when licensed, the site will operate
as Tweed Grasslands ("Tweed Grasslands") and become the newest
facility to join Canada's largest
network of legal, licensed cannabis producers owned and operated by
Canopy Growth.
Tweed Grasslands will operate a 90,000 sq. ft. facility in
Yorkton with the capacity to
expand operations to over 300,000 sq. ft. as the markets for
medical and recreational cannabis develop.
Led by an experienced team of entrepreneurs and medical cannabis
pioneers, Tweed Grasslands is now looking to hire several key
positions in anticipation of commencing operations. All told, Tweed
Grasslands intends to create 40-50 new permanent jobs at the
Yorkton facility with substantial
economic input also coming from a multi-million dollar investment
in order to build out the full 90k square feet of initial
production space.
"After years of hard work setting up the business we're now
excited to be focused on the task of producing medical cannabis for
people all across Canada," said
Andrew MacCorquodale, Head of
Operations for Western Canada,
Canopy Growth and founder of Tweed Grasslands. "With support and
expertise from our new colleagues at Canopy Growth we hope to be
licensed and fully operational in Saskatchewan within months and that means we
need to find great people to drive the vision forward."
Tweed Grasslands will supply medical markets in Canada and abroad as they emerge in a
federally legal manner, as well as the Canadian recreational
cannabis market upon the establishment of a national regulatory
framework.
Tweed's existing headquarters in Smiths Falls, ON, a small town of 9,000 has
benefitted very positively with over $45
million of investment put into its flagship 40-acre campus
at 1 Hershey Drive, creating over 240 jobs. With the addition of
Tweed Grasslands, the Company is eager to bring some of that
economic activity to Saskatchewan.
The first wave of job postings is available online now.
Here's to Future (Grasslands) Growth.
About Canopy Growth Corporation
Canopy Growth
Corporation (TSX: WEED) is a world-leading diversified cannabis
company, offering diverse brands and curated cannabis strain
varieties in dried and oil extract forms. Through its
wholly‑owned subsidiaries, Canopy Growth Corporation operates
numerous state-of-the-art production facilities with over half a
million square feet of indoor and greenhouse production
capacity. Canopy Growth Corporation has established
partnerships with leading sector names in Canada and
abroad. For more information
visit www.canopygrowth.com.
Notice Regarding Forward Looking Statements
This news
release contains forward-looking statements. Often, but not always,
forward-looking statements 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 involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Canopy Growth Corporation, Tweed Inc., Tweed Farms
Inc., Mettrum Health Corp., Bedrocan Canada Inc. or Tweed
Grasslands Cannabis (collectively, the "Companies") to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements
contained in this press release, but are not limited to the factors
included under "Risk Factors" in the Company's annual information
form for the fiscal year ended March 31,
2016, dated July 28, 2016.
Examples of such forward-looking statements include the intention
to hire and create new jobs, future investments, Tweed Grasslands
Cannabis obtaining a license to legally produce cannabis, the
performance of the Companies' business and operations, the
operational timeline and future operational and production capacity
of Tweed Grasslands Cannabis, the impact of enhanced infrastructure
and production capabilities, forecasted available product
selection, future supply of the Companies' product, the impact of
the establishment of a national regulatory framework and future
expectations of the industry's generated revenue. The
forward-looking statements included in this news release are made
as of the date of this news release and Canopy Growth Corporation.
does not undertake an obligation to publicly update such
forward-looking statements to reflect new information, subsequent
events or otherwise unless required by applicable securities
legislation.
Neither the TSX Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation