SMITHS FALLS, ON, Jan. 6, 2020 /CNW/ – Tokyo Smoke, Canopy Growth Corporation’s (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) award-winning retail brand, is proud to announce that it will be working with a total of ten recently-announced Ontario retail licence holders to open new Tokyo Smoke branded retail cannabis stores across the province.
In addition to the five locations announced in November 2019, the following five locations are now progressing through the process to open doors in 2020:
1180 Queen Street West, Toronto, ON 21 Bloor Street East, Toronto, ON 235 James Street North, Hamilton, ON 2257 Rymal Road East, Unit D-1, Stoney Creek, ON 1000 Wellington Avenue Unit 101, Ottawa, ON
“With ten new stores set to open in the first half of this year, we are pleased with the momentum we’ve built and excited to bring the Tokyo Smoke experience to more Ontarians,” said Rade Kovacevic, President, Canopy Growth. “Increasing Tokyo Smoke’s presence across the province will expand access to high-quality cannabis products and education, continuing to migrate cannabis sales from the illicit to the regulated market.”
Once licensed, this will bring the number of Tokyo Smoke branded retail cannabis stores in Ontario to a total of 12, joining Tokyo Smoke 333 Yonge at Dundas Square in Toronto, and Tokyo Smoke Oshawa.
All ten of the new locations have been posted to the Alcohol and Gaming Commission of Ontario‘s (“AGCO”) website and nine have completed the Public Notice period, progressing to the next stage in the licensing process.
The new stores, owned and operated by independent business owners with support available from Canopy Growth’s retail team, will increase Canopy’s retail banners across Canada to a total of 37, with more planned throughout the 2020 calendar year.
This announcement comes the same day the Government of Ontario takes the first steps to move to an open market for retail cannabis stores. The AGCO will begin accepting operator license applications from prospective retailers on January 6, 2020, followed by store authorization applications on March 2, 2020. The Company believes this decision will be integral to providing consumers with more choice and convenience, and a safe and reliable supply of cannabis.
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 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