ALDERGROVE & DELTA, BC, July 12,
2018 /CNW/ - Continuing the theme of securing major
supply agreements in every Canadian province and territory with
announced supply plans, Canopy Growth Corporation (TSX: WEED)
(NYSE: CGC) (the "Company" or "Canopy Growth") is proud to announce
that cannabis grown in its Delta
and Aldergrove facilities, its
other sites across the country, and products from its CraftGrow
partners will be sold in fine retailers, both government-operated
and private, across the province of British Columbia post-prohibition.
Canopy Growth entered into a supply MOU with the BC Liquor
Distribution Branch to make available 5,719 kg of high-quality
cannabis products in the first 12-months following October 17, 2018. The quantity referenced is a
delivery requirement agreed to in the MOU, not an internal
allocation.
"Investing in a reliable, national production footprint early
has made all the difference as provincial partners assess potential
supply sources," said Mark Zekulin,
President & Co-CEO. "We've established a strong presence in BC
with state-of-the-art greenhouse facilities in Delta and Aldergrove and we can't wait to see the BC bud
we're currently growing and harvesting at both sites readily
available on store shelves."
The Company's supply commitments to seven provinces and one
territory including New Brunswick,
Newfoundland & Labrador,
Prince Edward Island, Quebec, Yukon, Manitoba, Alberta, and now B.C., combine for a total of
over 67,000 kilograms of premium cannabis products from
whole-flower to oils and Softgels on an annualized basis.
Canopy Growth's national production platform includes facilities
in seven provinces across Canada
including its two BC Tweed greenhouses which combine 3 million sq.
ft. of growing space. With over 2.4 million sq. ft. of facilities
actively licensed and operating across the country, and the
remainder of several sites ready and awaiting licensing,
development continues to ensure full licensing is achieved in the
near future to ensure sufficient supply across the country.
Here's to Future (West Coast) Growth.
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.
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
cannabis production sites with over 2.4 million square feet of
production capacity, including over 500,000 square feet of
GMP-certified production space. Canopy Growth has operations in
eight 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, Canopy Growth is providing
resources and investment to new market entrants and building a
portfolio of stable investments in the sector. From our historic
public listing to our continued international expansion, pride in
advancing shareholder value through leadership is engrained in all
we do at Canopy Growth. 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 market participation in British Columbia. 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
sell cannabis products from its sites in BC retailers and/or such
risks contained in the Company's annual information form dated
June 28, 2017 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