Tweed Inc., a wholly owned subsidiary of Canopy Growth Corporation ((TSX: CGC) has received a Dealers License pursuant to the provisions of the Controlled Drugs and Substances Act and its Regulations and will now begin operating this purpose built area, built to GMP specifications, within its production facility in Smiths Falls, Ontario. The issuance of the license follows an extensive multi-year process that included application, design, construction and security clearance of key personnel.
Licensed activities will occur in a distinct area of the facility focused on strategic projects beyond Tweed‘s existing operational scope. As a licensed dealer, Tweed will be able to conduct research and possess cannabis and cannabis derivatives in forms that are not currently covered by the Access to Cannabis for Medical Purposes Regulations (ACMPR). It can also begin development of innovative products for future market opportunities, and with necessary approvals undertake the export of non-dried form of cannabis to other jurisdictions.
“Pursuing and achieving this Dealers Licence reinforces Tweed’s commitment to more research, both at Tweed and the recently launched Canopy Health Innovations,” said Bruce Linton, Chairman and CEO of Canopy Growth. “We have already begun exploring offerings, markets and potential collaborations for the newly licensed space. We look at this area of our business like an incubator where we can foster fresh ideas for the application of cannabinoids that will drive cannabis innovation forward with the goal of improving our offering to Tweed’s global customers.”
Since its launch three years ago Tweed has always had a strong commitment to research, partnering with some of Canada’s leading researchers and allocating dedicated space to a research area within its licensed footprint. The Company has since launched a first-in-class breeding facility, and today’s milestone speaks further to Tweed’s ongoing leadership in the cannabis research space, both in Canada and globally.
SOURCE Canopy Growth Corporation