(NYSE: CGC) (TSX: WEED)
SMITHS FALLS, ON, Oct. 9, 2018 /CNW/ - Licence amendments for
Canopy Growth Corporation's ("Canopy Growth" or the "Company")
wholly-owned subsidiary, BC Tweed Joint Venture Inc. (BC Tweed) and
its majority-owned joint venture, Les Serres Vert Cannabis Inc.
(Vert Cannabis) have been issued by Health Canada, collectively
representing approximately 1.1 million sq. ft. of new greenhouse
growing space on Canada's largest
cannabis platform.
The Company has, through its subsidiaries, established a 5.6
million sq. ft. platform, which is now over 75% licensed. This
infrastructure will increase the quantity and diversity of products
available to retail and wholesale customers in the recreational
market and fortify the supply of cannabis products available to its
medical customers.
"Our regulatory team and the teams in Delta and Mirabel have worked hard to bring these
large-scale greenhouses online. Credit is due to these teams and
the entire organization as we continue the push forward into a
transformative year for our business," said Mark Zekulin, President and co-CEO, Canopy
Growth.
These licence amendments are a major step forward but more
capacity is required before the entire Canopy Growth platform is
operational.
Here's to Future Growth (all across the country).
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 4.3 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 future sales and supply capabilities. 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 Management
Information Circular dated August 22,
2018 and annual information form dated June 28, 2018 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