TORONTO and OTTAWA, Feb. 18, 2016 /CNW/ - Bedrocan Canada Inc. ("Bedrocan Canada" or the "Company") is pleased to announce the renewal of its license for its main production facility in the Toronto area. In addition, re-asserting its commitment to affordable medicine, Bedrocan Canada is also announcing that its advocacy efforts to remove sales tax from medical cannabis have advanced to the House of Commons where a petition supporting the effort will be presented to Canada's lawmakers.
This is a promising step forward for a letter-writing campaign that started less than a month ago respectfully asking the Hon. Bill Morneau, Minister of Finance to "zero-rate" medical cannabis, thereby removing sales tax from its sale. Once achieved this change will remedy an unjust financial burden on patients, and bring a viable treatment option in line with the treatment of other prescription medicines.
Bedrocan Canada, a subsidiary of Canopy Growth Corporation (TSX.V:CGC) is dedicated to advancing every aspect of medical cannabis, from clinical research to physician education. As Canada's cannabis laws evolve, Bedrocan Canada will remain committed to improving the body or knowledge, affordability and accessibility of medical cannabis.
"We are committed to advocating for patient issues, and ensuring that the patient's voice does not get lost as a framework for non-medical cannabis is established," said Bruce Linton, Chairman and CEO of Canopy Growth. "Our commitment to affordability dates back to May 2014 when we filed a request for review of this rule by the Canada Revenue Agency. This latest petition reflects our ongoing commitment to advance the issue of affordability however we can."
Bedrocan Canada's advocacy for fair tax treatment of medical cannabis follows closely on the introduction of True Compassionate Pricing, a flat $5 price for all varieties and all customers.
We invite and encourage Canadians to visit https://petitions.parl.gc.ca/en/Petition/Sign/e-190 to sign the petition and join as a partner in driving this important message forward.
About Bedrocan Canada
Bedrocan Canada is focused on medicinal cannabis production and research, including, the EQUAL Study, which is currently enrolling patients and evaluating how cannabis is affecting their quality of life of Canadian patients. Bedrocan's standardized strains have been used by tens of thousands of patients in seven countries around the world. www.bedrocan.ca
About Canopy Growth Corporation
Canopy Growth is Canada's first publicly traded medical marijuana company and the first geographically diversified producer with multiple licenses under the Marihuana for Medical Purposes Regulations. Through its wholly owned subsidiaries, Tweed, Tweed Farms, and Bedrocan Canada, the Company operates three state-of-the-art production facilities in Ontario and distributes marijuana across the country to Canadian patients managing a host of medical conditions. The Company is dedicated to educating healthcare practitioners, providing consistent access to high quality medication, conducting robust clinical research, and furthering the public's understanding of how marijuana is used for medical purposes. www.canopygrowth.com
Forward Looking Statement:
This news release contains forward-looking statements. Often, but not always, forward-looking statements 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 involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or any of its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Although Canopy Growth Corp. has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Company or any of its subsidiaries. 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 applicable securities legislation.
SOURCE Canopy Growth Corporation
For further information: Jordan Sinclair, Jordan@canopygrowth.com, 855-558-9333 ex 309; Investor Contact: Tyler Burns Tyler.firstname.lastname@example.org, 855-558-9333 ex 122; Director: Bruce Linton, CEO, Canopy Growth, 855-558-9333, email@example.com