Tweed announces location of Newfoundland production site and first retail locations
SMITHS FALLS, ON and ST. JOHN'S, May 7, 2018 /CNW/ - Tweed is pleased to join the Government of Newfoundland and Labrador in announcing the locations of its new production facility and first four retail locations in the province. Together, these sites will bring over 200 high quality local jobs in the booming legal cannabis sector.
The Honourable Christopher Mitchelmore, Minister of Tourism, Culture, Industry and Innovation, Newfoundland and Labrador, and Jeff Ryan, Vice-President, Government and Stakeholder Relations, Canopy Growth, officially broke ground on the site located at 60 Eastland Drive in St. John's.
This announcement marks another milestone achieved ahead of schedule and once operational, the site will produce up to 12,000 kg of high quality cannabis per year and serve as the hub for local research and development funded by a $500,000 investment from Canopy Growth over the next five years.
Also announced today were the locations of the first four Tweed retail stores, which, in addition to selling cannabis products, will engage with customers to deliver education programs and community events prior to the opening of the adult recreational market. Residents can look forward to visiting the Tweed stores at the production site, Corner Brook, Kenmount Road and on Water Street in St. John's.
"When the sun rises on a new day in Canada, it hits Cape Spear first and just like the province, we're a company of firsts. We're proud to call Newfoundland and Labrador home to our first ever Tweed-branded retail locations," said Bruce Linton, Chairman and CEO, Canopy Growth Corporation. "We're excited to play a lead role in developing this industry in the province and look forward to supplying adult customers with high quality cannabis products once the legal market opens this year."
"Our government congratulates Canopy Growth on reaching this important milestone and breaking ground on the site of its new production facility. Our vision is an industry which leads to production, job creation, supply chain development and research and development in this province. We welcome the 145 new jobs that will be created at Canopy Growth's production facility and look forward to continued growth in this industry," said the Honourable Christopher Mitchelmore, Minister of Tourism, Culture, Industry and Innovation, Newfoundland and Labrador.
To help us get to know each other better, Tweed will be hosting local events over the next few months supporting hiring, education, and community engagement. This includes events featuring the Tweed Collective which was recently established with a 4 year, $20 million commitment to find and fund the most impactful community enhancement projects.
The first of these events will be a Tweed retail job fair on June 2 and 3 from 11am to 6pm at the Rocket Bakery at 272 Water Street in St. John's. All those interested in joining the Tweed retail team as well as learning more about Tweed and the Tweed Collective are encouraged to drop by.
The Tweed Collective is also currently seeking expressions of interest and community-building project ideas. Learn more and share your idea at: www.TweedCollective.com
Here's to Future Growth (on The Rock).
About Tweed
Tweed is a globally recognized cannabis production brand. It has built a large and loyal following by focusing on quality products and meaningful customer relationships. Tweed doesn't just sell cannabis, 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 cannabis laws liberalize around the world, Tweed will expand its leading Canadian position around the globe. Learn more at www.tweed.com.
About Tweed Collective
Not everyone understands the significance of April 20th. But to us, it's always been clear: it's a day for unity, community, and promoting progressive views on the treatment of cannabis within our society. It's the perfect time to launch Our 420 Commitment. Over the next 4 years, the Tweed Collective will invest $20 million in socially responsible initiatives. This will transform where and how we live in meaningful ways. We'll find, fund, and foster the best ideas, and invest where it matters most: our communities. If you're an artist, a creator, a builder or just someone with an idea for your community, then join us. Let's Grow Good Together. Learn more at www.tweedcollective.com
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time.
Canopy Growth has established partnerships with leading sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eight cannabis production sites with over 2.4 million square feet of production capacity, including over 500,000 square feet of GMP-certified production space. The Company has operations in seven countries across four continents. The Company is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through partly owned subsidiary Canopy Rivers Corporation, the Company is providing resources and investment to new market entrants and building a portfolio of stable investments in the sector. From our historic public listing to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. For more information visitwww.canopygrowth.com.
Notice Regarding Forward Looking Information
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, its subsidiaries, or its affiliates 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 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.
SOURCE Canopy Growth Corporation
Tweed: Jordan Sinclair, Director of Communications, [email protected], 613-769-4196; Investor Relations: Tyler Burns, [email protected], 855-558-9333 ex 122; Director: Bruce Linton, [email protected]
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