SMITHS FALLS, ON, Feb. 24, 2016 /CNW/ - Tweed Inc. ("Tweed", "the Company"), wholly-owned subsidiary of Canopy Growth Corporation ("Canopy Growth") (TSX.V:CGC) is please to announce that it has received its license to sell cannabis oil products. At noon tomorrow, the Company will be launching the sale of high-quality 10:1 Cannabis Oils consisting of GMO-free organic sunflower oil and high-quality CO2-extracted cannabis oils.
Since its inception, Tweed has focused on producing an industry-leading variety of cannabis products that meet the needs of a diverse clientele. To date, that has meant growing a diverse selection of strains to ensure that patients find the strain that truly meets their personal needs. With 10:1 Cannabis Oils, the Company will continue that focus and ensure that patients can still find the strain that is right for them, this time in a digestible format. Starting with popular offerings of Argyle, Princeton and Birds Eye, Tweed will introduce new strain-specific 10:1 Cannabis Oils on an ongoing basis.
The name of the new product line, 10:1 Cannabis Oils reflects the ratio that each 10 ml of oil will contain the equivalent of 1g of the corresponding Tweed dried-flower variety. 10:1 Cannabis Oils will be sold in 100 ml bottles.
"Introducing this new product category to our customers will undoubtedly come with a learning curve, and ease-of-use and education was top-of-mind for us. Creating a simple, universal equivalency factor between flower and oil was the logical solution and a simple way to ensure customers can manage their dosing confidently," said Mark Zekulin, President, Tweed.
Tweed chose to balance 10:1 Cannabis Oils with organic, non-genetically modified sunflower oil because it is versatile enough to cook or bake with, hypoallergenic, and even good to ingest on its own as it comes.
Coinciding with the launch of 10:1 Cannabis Oils, Tweed and its sister company, Bedrocan Canada, are pleased to announce the launch of a fund to support the delivery of education programs on the responsible use of cannabis.
The companies will commit a combined $50,000 toward partnerships with leading organizations committed to responsible use education. In addition, Tweed and Bedrocan Canada will commit an additional $1, for every bottle of 10:1 Cannabis Oils sold, to this fund.
"Along with the launch of oils, we know that customers, healthcare practitioners, and education partners have a lot of questions, and we need to start building the resources to answer those questions using a systematic, Canada-wide approach," said Bruce Linton, CEO of Canopy Growth. "As we move towards a non-medical consumer market, education on responsible use of cannabis will become all the more important, and as responsible companies we need to get out ahead of that curve."
Strain-specific 10:1 Cannabis Oils will be for sale at Tweed.com from $95 to $155 per bottle, or from $76 to $124 for patients qualifying for Tweed's Compassionate Pricing program.
Here's to Future Oils.
About Tweed Inc.
Tweed Inc. is a Canadian company licensed under the Marihuana for Medical Purposes Regulations to produce and sell marijuana to authorized medical customers. Tweed strives to supply a wide selection of marijuana, as diverse as the patients who trust the company with their patronage. For more information visit www.tweed.com
About Canopy Growth Corporation
Canopy 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 Inc., Tweed Farms Inc. and Bedrocan Canada Inc., Canopy operates several state-of-the-art production facilities in Ontario and distributes marijuana across the country to Canadian patients managing a host of medical conditions.
Canopy is dedicated to educating healthcare practitioners, providing consistent access to high quality medication, and furthering the public's understanding of how marijuana is used for medical purposes.
Notice regarding Forward-Looking Statements
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 Corporation 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 Corporation 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.
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SOURCE Canopy Growth Corporation
Image with caption: "A simple system helps customers easily manage their dosing. (CNW Group/Canopy Growth Corporation)". Image available at: http://photos.newswire.ca/images/download/20160224_C4400_PHOTO_EN_627990.jpg
Media Contact: Jordan Sinclair, Communications Manager, [email protected], 855-558-9333 ex 309; Investor Contact: Tyler Burns, Investor Relations, [email protected], 855-558-9333 ex 122; Director: Bruce Linton, [email protected], 855-558-9333
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