SMITHS FALLS, ON and
LOS ANGELES, CA, March 19, 2019 /CNW/ - Canopy Growth
Corporation ("Canopy") (TSX: WEED) (NYSE: CGC) ("Canopy Growth" or
the "Company"), a world-leading, diversified cannabis company and
OG DNA Genetics ("DNA"), a globally recognized cannabis brand, are
pleased to announce today they have signed an agreement to extend
and expand upon their previously announced partnership through to
2024. With this newly signed agreement, Canopy Growth and DNA
have extended their partnership beyond Canada and Jamaica and have committed to bringing DNA's
world-renowned genetics to a soon-to-be disclosed European
market.
Canopy Growth and DNA entered into their first agreement for the
Canadian market in 2015. The partnership gave Canopy Growth access
to a wealth of unique, genetically-diverse cannabis strains that it
then incorporated into its Canadian product lines. In 2017, the
partnership between Canopy Growth and DNA was renewed and expanded
into Jamaica to bring DNA's
original strains into future Caribbean markets. Under the terms of today's
announcement, Canopy Growth and DNA have committed to working
together through 2024 and will make every effort to expand into
global markets, including Europe,
where regulations permit the legal sale of cannabis for medical and
recreational purposes.
"Teaming up with DNA has proven to be a very strong and mutually
beneficial partnership," said Bruce
Linton, Chairman and co-CEO of Canopy Growth. "Renewing our
partnership for the next five years was a no-brainer for us and we
look forward to introducing their high-quality DNA products to
consumers around the world."
"We are thrilled with the ongoing success of our relationship
and the momentum we are enjoying with our partners at Canopy
Growth," said Charles Philips, CEO
of DNA. "The strength of our phenotyping and quality standards
combined with Canopy's global presence and distribution power is a
winning combination that is providing consumers in key markets
around the world with the best possible cannabis."
For over 15 years, DNA has set a global industry standard for
breeding genetically diverse strains that are considered
best-in-class. Their diligent phenotyping process led to more than
200 global cannabis awards, making them the most celebrated
cannabis breeders in the world. DNA Certified™ products distributed
by Canopy Growth have been grown using DNA's genetics, under the
careful supervision of both DNA and Canopy Growth.
About OG DNA Genetics
DNA Genetics was rooted in
Los Angeles and founded in
Amsterdam in 2004 by Don Morris and Aaron
Yarkoni. Over the last decade, the Company has built
and curated a seasoned genetic library and developed proven
standard operating procedures for genetic selection, breeding, and
cultivation. In a world that is increasingly opening up to
commercial cannabis activity, DNA is positioned to become the
first, truly geographically-diversified company with multiple
partnerships with top-licensed producers and brands that have built
their companies and global presence utilizing the "Powered by DNA"
model. For more information, please visit www.dnagenetics.com
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. Canopy Growth offers medically approved
vaporizers through the Company'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. The Company has operations in
over a dozen 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 wholly
owned subsidiary, Canopy Health Innovations ("Canopy Health"), has
devoted millions of dollars toward cutting edge, commercializable
research and IP development. Canopy Growth works with the Beckley
Foundation and has launched Beckley Canopy Therapeutics to research
and develop clinically validated cannabis-based medicines, with a
strong focus on intellectual property protection. Canopy Growth
acquired assets of leading hemp research company, ebbu, Inc.
("ebbu"). Intellectual Property ("IP") and R&D advancements
achieved by ebbu's team apply directly to Canopy Growth's hemp and
THC-rich cannabis genetic breeding program and its cannabis-infused
beverage capabilities. 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, Battelle, the world's largest nonprofit research and
development organization, 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. The Company operates Tweed retail
stores in Newfoundland and
Manitoba and has entered into
supply agreements with every Canadian province and territory. 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 entering new international markets. 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 entering new
international markets, and such risks contained in the Company's
annual information form dated June 27,
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.
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SOURCE Canopy Growth Corporation