SMITHS FALLS, ON, Dec. 6, 2019 /CNW/ - Canopy Growth Corporation
("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC)
officially revealed its Cannabis 2.0 portfolio of products last
week, set to come to market as part of the second wave of Canadian
cannabis commercialization. With December
16, 2019, being the first date new product formats can be
sold into distribution channels, the Company expects that in most
markets new products will not be seen on shelves until early in
January 2020. Leveraging
learnings from Cannabis 1.0, the Company will stagger its launch of
various products and formats to ensure a smooth roll-out. As such,
availability will vary by province based on their individual
ordering and distribution activities. While the Company is
providing this update in advance of the launch of Cannabis 2.0
products, for competitive reasons, it will not provide ongoing
updates during the actual rollout period.
The first wave of cannabis chocolate products, which will
arrive in retail in early January
2020, includes Tokyo Smoke Go, Tokyo Smoke Pause, and Tweed
Bakerstreet chocolate bars. Tokyo Smoke Go is a THC-infused,
sativa-dominant dark milk chocolate with minimal CBD content. Each
five-piece chocolate bar contains 10 mg of THC, or 2 mg of THC in
each piece. Tokyo Smoke Pause is a THC-infused, indica-dominant
dark milk chocolate, containing 2 mg of THC in each of the five
squares. Tweed Bakerstreet is blended with peppermint and milk
chocolate and offers 2.5 mg of THC in each of the four chocolate
squares. The second wave of chocolate bars will include Tokyo Smoke
Ease CBD chocolate, expected to be on shelves in late January, as
well as the Company's new brand of high-quality chocolate, Bean
& Bud, expected to be on shelves by the end of February
2020.
The first wave of the Company's ready-to-drink
mixed Distilled CannabisTM beverage
products - Tweed Houndstooth & Soda,
Houseplant Grapefruit, and Houseplant Lemon - are expected to hit
shelves in early January 2020. The
Company expects to launch additional beverage offerings under the
Tweed, Quatreau, and Deep Space brands in the following weeks of
January, with its Distilled CannabisTM spirits
expected to follow in early February 2020.
On November 28, 2019, Chief
Technology Officer Peter Popplewell
unveiled Canopy Growth's lineup of vape pens and vape
cartridges. The new products – consisting of cartridges and
associated rechargeable batteries – are anticipated to launch late
January 2020. Tweed, Twd., and
Van Der Pop branded 510 thread
format devices remain the Company's first launch focus, as the 510
thread format comprises approximately 75% of vape extract sales in
established markets like Colorado
and California. Further
differentiated and feature-rich vape offerings are expected to
launch thereafter, including the Company's single-use, recyclable,
Bluetooth-enabled Juju Joints line-up of products. The Company
will ensure that all products obtain UL 8139 certification prior to
coming to market, which it considers the most thorough safety
standard for vaping devices. Additionally, the Company is
continually reviewing and testing all inputs to ensure the highest
quality and reliability of cannabinoids, terpenes,
tamper-resistance and product serialization features. The Company
recognizes the recent announcements by the provinces of
Newfoundland & Labrador and
Quebec delaying the launch of vape
products in those provinces; as provincial buyers increase their
level of scrutiny on the products they sell, the Company will
continue to work to meet the highest standards of safety, product
quality and transparency for consumers.
The Company looks forward to introducing Canadian consumers to
these exciting new product formats.
Here's to Future (deliciously infused) 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 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/canopy-growth-provides-update-on-2-0-product-rollout-300970627.html
SOURCE Canopy Growth Corporation