SMITHS FALLS, ON, Dec. 12, 2016 /CNW/ - Tweed Inc. (Tweed), a wholly owned subsidiary of Canopy Growth Corporation (Canopy Growth or the Company) (TSX: CGC) has received a Dealers Licence 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 licence 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.
Here's to Future Growth.
Tweed is a globally recognized marijuana production brand. It has built a large and loyal following by focusing on quality products and meaningful customer relationships. Tweed doesn't just sell marijuana, it facilitates a conversation about a product we've all heard about but haven't met intimately yet. It is approachable and friendly, yet reliable and trusted. As marijuana laws liberalize around the world, Tweed will expand its leading Canadian position around the globe. Learn more at www.tweed.com.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. Through its wholly‑owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over half a million square feet of indoor and greenhouse production capacity. Canopy Growth has established partnerships with leading sector names in Canada and abroad. For more information visit 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 the TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation
For further information: Media Contact: Jordan Sinclair, Director of Communications & Media, [email protected], 613-769-4196; Investor Relations Contact: Tyler Burns, [email protected], 855-558-9333 ex 122; Director: Bruce Linton, [email protected], 855-558-9333