Deal secures Organigram's portfolio within Canopy
Growth's retail stores & launches B2B sales platform
MONCTON, NB and
SMITHS FALLS, ON, Sept. 20, 2018 /CNW/ - Organigram Holdings
Inc. (TSXV: OGI) (OTCQX: OGRMF), the parent company of Organigram
Inc. ("Organigram") and Canopy Growth Corporation (TSX: WEED)
(NYSE: CGC) ("Canopy Growth") (collectively, the "Companies"),
leading licensed producers of cannabis are pleased to announce that
following Organigram's approval as a cannabis supplier in the
Province of Newfoundland and
Labrador, the Companies have
signed a two-year supply and distribution agreement .
Organigram will become a key supplier of branded, finished
cannabis products to Canopy Growth's Tweed-branded retail
operations in Newfoundland and
Labrador once adult recreational
cannabis is legalized in Canada on
October 17th, 2018. Canopy
Growth will also perform a B2B sales function for Organigram by
marketing its portfolio to other licensed
retail outlets in Newfoundland and Labrador.
"We are very excited to partner with Canopy Growth in
Newfoundland and Labrador," says Tim
Emberg, Vice President of Sales and Commercial Operations,
Organigram. "Canopy is a tremendous industry partner and we are
looking forward to working with them to provide Newfoundlanders
with an exceptional selection of quality cannabis products."
Currently, Organigram also has supply agreements/memorandums of
understanding with the provinces of New
Brunswick, Nova Scotia,
Prince Edward Island, Alberta, Manitoba and Ontario. Canopy has secured supply agreements
in every province & territory with announced supply plans.
Today's announcement applies to Newfoundland and Labrador only and the commercial terms of the
agreement not disclosed in this press release are confidential.
"Customers exploring the new cannabis retail environment will be
looking for product diversity. Similar to our medical cannabis
e-commerce site, offering our customers a wide product offering,
focused on diverse and complementary brands, has always been a key
strategy for us," said Rade Kovacevic, EVP, Recreational Cannabis
& Managing Director, Canada.
"Organigram's product selection will complement our existing
product mix to provide Tweed customers with additional options in
Newfoundland and Labrador."
About Organigram Holdings Inc.
Organigram Holdings Inc. is a TSX Venture Exchange listed
company whose wholly owned subsidiary, Organigram Inc., is a
licensed producer of medical marijuana in Canada. The
company's facility is located in Moncton,
New Brunswick and the Company is regulated by the Access to
Cannabis for Medical Purposes Regulations ("ACMPR").
Organigram's unprecedented recreational portfolio features brands
including The Edison Cannabis Company, ANKR Organics and Trailer
Park Buds.
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
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 Organigram supplying branded, finished cannabis products
annually to Canopy Growth. 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; successful sales function, 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