SMITHS FALLS, ON, Nov. 25, 2019 /CNW/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED), (NYSE: CGC) is pleased to announce today that on November 22, 2019, it received its operating and secure storage license from Health Canada for its 150,000 sq. ft. beverage facility located at company headquarters in Smiths Falls, ON.
The new facility is operational and will begin producing cannabis-infused beverages today. The beverage facility adds to the complement of cannabis production facilities in Smiths Falls including a regional distribution center with automated excise stamp lines, an automated manufacturing facility, a state-of-the-art bean-to-bar chocolate factory, and a first-of-its-kind Visitors Centre.
“This license represents years of hard work to bring our vision to life. We are deeply proud of the team’s hard work and dedication that has brought us from the tear-down of the original building in early 2019, through to the completion and licensing of our brand new facility,” said Mark Zekulin, CEO of Canopy Growth. “We also appreciate the support of our partner, Constellation Brands, who lent their expertise from building and equipment design to staffing requirements for this world-class facility. Cannabis beverages have the potential to introduce an entirely different demographic to the cannabis category by presenting them with a familiar product format and an onset time akin to beverage alcohol.”
Eleven beverages, all based on the company’s unique Distilled CannabisTM process will be produced in the Smiths Falls facility during the first wave of production, with more added throughout the year. This license positions the Company to begin shipping beverage inventory to the provinces within weeks. The timing of specific product availability will vary by province.
Canopy Growth’s industry-leading platform across Canada now includes over 10.5 million sq. ft. of existing, fully licensed production capacity, along with award-winning brands, a network of licensed retail stores, and a proven track record as a globally leading cannabis company. With this critical operating license, Canopy Growth is fully prepared to supply the Canadian market with a variety of innovative new “Cannabis 2.0” products including beverages, chocolates, and vapes.
Here’s to Future Growth.
About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is 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 color-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 that 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
SOURCE Canopy Growth Corporation