NIAGARA-ON-THE-LAKE, ON,
Sept. 17, 2018 /CNW/ - Canopy
Growth Corporation ("Canopy Growth" or the "Company") (TSX:
WEED) (NYSE: CGC) is pleased to announce that its Tweed Farms
Inc. ("Tweed Farms") site has received licence amendments approving
all remaining greenhouse space, bringing the Company's total
licensed footprint to approximately 3.2 million sq. ft. The
Company's Canadian platform is now 57% licensed with the balance
under aggressive development towards the previously announced 5.6
million sq. ft. target production footprint. This target excludes
significant production capacity projects underway at Canopy Rivers'
partners and supply available to Canopy Growth through third-party
agreements.
"We are a house of cannabis brands and that means we need
production infrastructure that can grow a wide range of genetics at
scale simultaneously," said Mark
Zekulin, co-CEO and President, Canopy Growth. "I'm proud of
this most recent licence and credit our team as we continue our
track record of expansion and execution."
With licensed production sites in seven provinces, Canopy Growth
has quickly established itself as a national producer. High
efficiency hybrid greenhouses, including those at Tweed Farms
represent approximately 80% of the Company's production
platform.
The Company continues to pursue a large and diversified
production platform in order to build a sustainable source of
supply of high quality cannabis products that can be used for
medial and recreational markets. This licensing milestone is a
meaningful increase to Canopy Growth's capacity but more licensed
capacity, currently in the regulatory licensing process, is needed
in order to fill the available demand projected in the market.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis and hemp company, offering
distinct brands and curated cannabis varieties in dried, oil and
Softgel capsule forms. 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.
The Company has operations in 11 countries across five
continents. The Company is proudly dedicated to educating
healthcare practitioners, conducting robust clinical research, and
furthering the public's understanding of cannabis, and through its
partly owned subsidiary, Canopy Health Innovations, has devoted
millions of dollars toward cutting edge, commercializable research
and IP development. Through partly owned subsidiary Canopy Rivers
Corporation, the Company is providing resources and investment to
new market entrants and building a portfolio of stable investments
in the sector.
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 icon Snoop Dogg, breeding legends DNA Genetics and Green
House seeds, and Fortune 500 alcohol leader Constellation Brands,
to name but a few. Canopy Growth operates ten licensed cannabis
production sites with over 3.2 million square feet of production
capacity, including over 500,000 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 "adult customers in the province will be able to
experience Tweed"; "Residents of Brandon and Dauphin can both look forward to a dedicated
Tweed retail store in each of their cities and residents of
Winnipeg can look forward to two";
and "Tweed retail stores will stock an industry-leading lineup of
products from Tweed as well as partner brands including DNA
Genetics and Leafs by Snoop". 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 opening of stores;
planning of unveiling events; product availability; and such risks
contained in the Company's annual information form dated
June 28, 2017 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