SMITHS FALLS, ON, Nov. 28, 2019 /CNW/ - Tokyo Smoke, Canopy
Growth Corporation's ("Canopy Growth" or the "Company") (TSX: WEED)
(NYSE: CGC) award-winning retail subsidiary is proud to announce
that after working closely with recently-announced Ontario retail licence winners, it has entered
into agreements with five retailers who have progressed to key,
public stages in the licensing process.
In particular, three locations have been posted to the AGCO
website and the two others have received official confirmation and
will post the required on-site notice today prior to locations
being posted online. Locations include:
390 Lakeshore Dr. Unit 3, North Bay,
ON
75 Pinebush Road Unit D0005, Cambridge,
ON
570 Bloor St. West, Toronto, ON
1303 Queen St. East, Toronto,
ON
1082 Memorial Avenue, Thunder Bay,
ON
"As a company we are pleased to see this progress in the
Ontario retail market," said
Mark Zekulin, CEO, Canopy Growth.
"Increasing our presence in Toronto and for the first time north of the
GTA is an important step to continuing the growth of the Tokyo
Smoke brand and providing Ontarians with easy access to the
education and high quality cannabis retail experiences they
seek."
These locations are owned and operated by independent business
owners with the support of Canopy Growth's existing retail team to
ensure a consistent high level of customer experience and product
curation. Once all five retail stores are open, total Canopy retail
banners across Canada will reach
32 with more planned throughout calendar year 2020.
Management believes that increased retail stores in Ontario is essential to the overall success of
the cannabis sector, and to migrating cannabis sales from the
illicit to regulated market. The Company applauds the recent
progress in bringing new stores closer to market and encourages an
open licence process to complement the existing licences granted
and in process.
Here's to Future (Ontario Retail) 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