SMITHS FALLS, ON, Nov. 27, 2019 /CNW/ - On November 28th, 2019, Canopy
Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED)
(NYSE: CGC) will officially unveil its new portfolio of Cannabis
2.0 products, including its Distilled Cannabis™ concept,
chocolates, vape cartridges and vape pens at a media launch event
in Toronto, Ontario.
"With the coming of Cannabis 2.0, our goal is to provide
customers with the best quality products, and I truly believe
through the hard work and dedication of our team, we have delivered
just that," said Mark Zekulin, CEO,
Canopy Growth. "Since our first medical sale in 2014, we've been
focused on innovation and quality, and now we're expanding that
with the launch of our game-changing recreational beverages,
chocolates, and vapes."
After months of preparation and expansion, the Company is
gearing up to supply the Canadian market with a variety of
innovative cannabis products. In partnership with Hummingbird
Chocolate, the Company's state-of-the-art chocolate factory is now
fully operational. On Friday, November
22nd, Canopy Growth received a critical operating and
secure storage licence from Health Canada for its 150,000 sq. ft.
beverage facility located in Smiths
Falls, Ontario. The Company wishes to thank its partner,
Constellation Brands, for providing expertise and support in
constructing and operating the world-class facility, from building
design to equipment selection to staffing requirements.
In addition to establishing scaled infrastructure, the
development of protectable intellectual property has always been a
priority for Canopy Growth. To date, the Company, including through
its subsidiaries, holds over 130 patents and has filed more than
330 patent applications.
In support of the media event, the Company wishes to provide the
following product details:
Vape Technology
Canopy Growth has designed a line of vape pen and vape cartridge
products that exceed hardware safety regulations. The Company has
obtained UL 8139 certification for devices launching imminently,
which it considers the most thorough safety standard for vaping
devices and will seek the same certification for additional vape
products prior to launching them into the market.
On Thursday, November 28th, Chief
Technology Officer Peter
Popplewell will unveil Canopy's lineup of
vape cartridges and associated rechargeable batteries to be
launched into the Canadian market in January
2020, with Phase 2 of vape products consisting of a pod
based vape system and a recyclable single use vape pen launching in
early 2020. Using the industry standard "510" thread format, which
comprises approximately 75% of vape extract sales in established
markets like Colorado and
California, is the Company's top
launch priority.
The launch event will include a technical breakdown of various
vape products showcasing the Company's commitment to consumer
safety as well as MSRP for the new offerings.
Distilled Cannabis™ Beverages
Canopy Growth's scientific development team has developed a
proprietary process that distills whole flower cannabis into a
clear liquid, which is used as an active ingredient in a wide
variety of THC and CBD infused beverages. The Company has
named the resulting product, Distilled Cannabis™. Produced in its
newly licensed beverage facility, the Company's wide variety of
beverages, powered by its proprietary Distilled Cannabis™, will be
offered in a range of brands, flavours and sizes. Canopy Growth's
beverages have been developed to provide the serving sizes and
onset times that consumers experience with other beverage
formats.
Tweed RTD (ready to drink), are pre-mixed with
Distilled CannabisTM and offered in 355mL cans. The RTD
beverages are flavoured to represent Tweed's three core cannabis
strains including Penelope and Tonic containing 2 mg of
THC and 1.5 mg of CBD, Bakerstreet and Ginger Ale and Houndstooth and
Soda, both containing 2 mg of THC per can.
Through its partnership with Houseplant founders Seth Rogen and Evan
Goldberg, Canopy Growth has developed Houseplant
Grapefruit and Houseplant Lemon, both containing
2.5 mg of THC per 355mL can. These beverages can be enjoyed anytime
of day for any occasion allowing for a new way to consume
cannabis.
Canopy has developed a range of naturally flavoured, refreshing
seltzer-like sparkling water beverages, under the new brand
Quatreau, that are targeted at wellness-focused beverage
enthusiasts. The first four beverages are
Quatreau Cucumber & Mint, and Quatreau
Passion Fruit & Guava each containing 20 mg of CBD
as well as Quatreau Ginger & Lime, and
Blueberry Acai, each containing 2 mg CBD and 2 mg THC per
can.
For consumers interested in a more potent option, Deep
Space is a smaller ready to drink carbonated beverage,
dark coloured with a bold, full flavour that comes in a 222mL can
and contains 10 mg of THC per serving, the maximum level of THC
permitted by Health Canada.
In addition, Canopy has established a new brand of beverage
mixers, Tweed Distilled Cannabis. Packaged in 150mL bottles
of Canopy Growth's proprietary clear liquid cannabis, Tweed
Distilled Cannabis can be mixed with any non-alcoholic beverage or
enjoyed neat or on the rocks, allowing the consumer to control
serving amounts. Tweed Distilled Cannabis will be flavoured using
three core Tweed strains including Penelope which
will contain five 2 mg servings of THC and 1.5 mg CBD (for a total
of 10 mg THC and 7.5 mg CBD) as well as Bakerstreet, and
Houndstooth which will both contain five 2 mg servings
of THC (for a total of 10 mg THC). Tweed's Distilled Cannabis will
be available for sale in early 2020.
Award-winning chocolate
Canopy Growth's partnership with international award-winning
Hummingbird Chocolate supports the production of
world-class chocolate in the Company's new state-of-the-art
chocolate factory. Through this partnership, Canopy Growth has
successfully brought chocolate back to the former Hershey factory
in Smiths Falls, Ontario,
previously known as the 'Chocolate Capital of Ontario'. Led by Erica
and Drew Gilmour, Hummingbird Chocolate has won over 60
international awards including the Golden Bean, awarded by the
prestigious Academy of Chocolate. Leveraging Hummingbird's
knowledge and expertise, Canopy Growth is producing high-quality,
bean-to-bar craft chocolate infused with specific amounts of
specially formulated cannabis. The cacao beans, roasted on site to
achieve rich optimal flavour, are sourced directly from
Peru, Dominican Republic, and Colombia.
Canopy Growth's dedication to making the finest cannabis-infused
chocolate in the world is showcased across three distinct brands -
Bean & Bud Craft Cannabis
Company, Tweed and Tokyo
Smoke. The Company will begin shipping the chocolates from
its Regional Distribution Centre in Smiths Falls across the country in the coming
weeks.
Bean & Bud premium 70% dark chocolate has a rich
flavour and aroma, and comes in shareable chocolate medallions,
made from single-origin Zorzal Cacao. Carefully crafted from beans
grown in a bird sanctuary in Dominican
Republic, Bean & Bud Dominican Craft Reserve contains
two medallions per package with 5 mg of THC each.
Tweed milk chocolate is meticulously crafted using
Canopy Growth's proprietary hybrid strain, Penelope, and contains
2.5 mg of THC and 1.8 mg of CBD in each of the four chocolate
squares.
Tokyo Smoke THC-infused dark chocolate is created
with simple yet quality ingredients including a sativa-dominant
cannabis extract with minimal CBD content. Each five-piece
chocolate bar contains 10mg of THC in total, 2 mg of THC for each
segmented piece.
In the coming months, Canadian consumers will have the
opportunity to experience cannabis in a variety of different
flavours and formats and thanks to the groundbreaking work of
Canopy Growth's innovation teams, the Company is poised to lead the
industry with world-class vape pen and vape cartridge technology,
crisp, clean, refreshing cannabis beverages, and premium,
delicious, bean-to-bar cannabis infused chocolate.
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 future product format brands and 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.
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SOURCE Canopy Growth Corporation