SMITHS
FALLS, ON, April
13, 2017 /CNW/ - Following the tabling of proposed
legislation outlining the framework for the legalization of adult
use cannabis, as well as laws to address drug-impaired driving,
Canopy Growth Corporation (TSX: WEED) ("Canopy Growth" or "the
Company") offers the following commentary.
This is a truly historic day. Canada has administered an ineffective system
of prohibiting cannabis since 1923 and today took a major step
forward by introducing evidence-based policy that will reduce
access for younger Canadians, ensure federally regulated production
and standards, and establish a legitimate market that will create
jobs and generate economic benefits to communities all across
Canada.
With regards to the special emphasis on drug-impaired driving,
Canopy Growth commends the federal government. The risks of
impaired driving are top-of-mind for Canadians. As a responsible
leader in this sector, Canopy Growth is proud to have committed
resources early towards educating people on responsible consumption
of cannabis. This is work we are proud of and work that will
continue. Earlier today the Company issued an update on these
initiatives, available here.
On the subject of packaging and promotion, Canopy Growth looks
forward to continued discussion on this topic as regulations are
developed. The legislation does not prescribe specific limitations
other than details on overly promotional language or targeting
youth. Prohibiting promotion aimed at children is a common-sense
approach and Canopy applauds these limitations as expressed in the
bill.
Canopy Growth is also very pleased to see that the government
will allow a mail order system for recreational sales. Online sales
are a reality of consumer life and the backbone of the existing
medical cannabis system. To improve the online experience for
today's medical cannabis customers Canopy Growth recently launched
a one-stop shop for multiple cannabis brands. In today's medical
market and in the future recreational market, Tweed Main Street
will offer established brands, like Tweed, to age-appropriate
customers across the country. Tweed Main Street is an online
marketplace that will be available to new entrants, big and small,
as more and more producers become licensed for cannabis
production.
As it relates to future production needs, Canopy Growth is a
diversified cannabis producer. It will continue to place the
highest priority on meeting the needs of medical patients,
expanding internationally as federal laws
permit, and increasing its capacity to serve recreational
customers across Canada in the
future. With that in mind, widespread capacity expansion is already
well underway across the company.
From day one, Canopy Growth has focused on capacity building,
brand development and the highest customer care and product
quality. These areas will continue to be our focus today and into
the future.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company,
offering diverse brands and curated cannabis strain varieties in
dried and oil extract forms. Through its wholly‑owned
subsidiaries, Canopy Growth operates numerous state-of-the-art
production facilities with over half a million square feet of
indoor and greenhouse production capacity. Canopy Growth has
established partnerships with leading sector names
in Canada and abroad. For more information
visit www.canopygrowth.com.
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performance or achievements of Canopy Growth Corporation, Tweed
Inc., Tweed Farms Inc., Mettrum Health Corp., or Bedrocan Canada
Inc. to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Examples of such statements include
future operational and production capacity, the impact of enhanced
infrastructure and production capabilities, and forecasted
available product selection. The forward-looking statements
included in this news release are made as of the date of this news
release and Canopy Growth Corp. does not undertake an obligation to
publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise unless required by
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SOURCE Canopy Growth Corporation