TORONTO, Dec. 3, 2015 /CNW/ - Bedrocan Canada Inc. (Bedrocan), wholly owned subsidiary of Canopy Growth Corporation ("Canopy Growth" or "the Company") (TSX.V: CGC) is pleased to announce that it has received a license renewal for its shipping and storage facility in the Greater Toronto Area.
The license extension is valid for one calendar year from the date of issuance, December 2nd, 2015 and will allow Bedrocan to store and sell up to 240kg of dried cannabis during the licensing period. Bedrocan also holds a separate 2000kg production license that is valid through February 17th, 2016.
"We are pleased to have met the necessary regulatory requirements to extend this sales and storage license," said Marc Wayne, President of Bedrocan. "It is a strategically located facility which can ship quickly and easily to the most densely-populated region in the country so it is good news for our customers as well."
This is the smallest of the four Marihuana for Medical Purposes Regulations (MMPR) licenses held by the Company, which is approved to produce and sell a total of 5740kg of dried cannabis products through its various licenses, the highest total in the industry. Bedrocan holds a separate production and sales license allowing it to grow, store, and sell up to 2000 kg of cannabis. Tweed Farms is licensed to grow cannabis plants in its 350,000 sq. ft. greenhouse. Tweed Inc. is licensed to grow, store, and sell 3500kg of dried cannabis. In total, Canopy Growth operates more than 550,000 sq. ft. of cannabis production space.
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 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 dual 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
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 Canopy Growth Corporation, Tweed Inc., Tweed Farms Inc. or Bedrocan Canada Inc. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include future operational and production capacity, the impact of enhanced infrastructure and production capabilities, and forecasted available product selection. 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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation
For further information: Jordan Sinclair, Communications Manager, [email protected], 613-706-2185 ex 309