SMITHS FALLS, ON, July 25, 2016 /CNW/ - Canopy Growth Corporation ("Canopy" or "the Company") is pleased to announce that its wholly owned subsidiary Tweed Inc. ("Tweed"), Canada's largest medical marijuana producer, has received necessary approvals in Canada and Germany to begin export of medical cannabis for sale to German patients.
Working with MedCann GmbH Pharma and Nutraceuticals ("MedCann"), a privately held pharmaceutical importer and manufacturer, the transfer marks an important milestone for the Company and the first known incidence of dried cannabis being exported from a Canadian licensed producer to a major G7 country.
"Introducing Tweed product to German medical cannabis patients is an exciting and groundbreaking event," said Bruce Linton, Chairman and CEO of Canopy Growth. "Patients will soon have a new choice in variety for their medical cannabis, and we are honoured to be involved in the changing landscape for German access and choice."
Germans can presently access legal medical cannabis through pharmacies for a variety of medical conditions, though adequate domestic production has not yet been established. Tweed will launch an initial two strains in Germany, and hopes to bring further variety to market as soon as possible.
"As the German population now knows, the regulatory aspects and laws concerning medical cannabis have evolved to address the growing needs of medical cannabis patients in Germany," said Dr. Pierre Debs, co-founder of MedCann. "Now, in the summer of 2016, through the concerted efforts of MedCann and Tweed, patients across Germany can be assured of a new supply and variety of the highest quality medical cannabis."
Building on recent announcements in Australia and Brazil, Canopy has now partnered to bring its products, expertise and brands to four continents. In addition to providing products for sale to the German market, Canopy through its subsidiaries Bedrocan Canada and Tweed, is increasingly focused on the provision of dried cannabis and cannabis oils for the purpose of clinical trials and research to ensure healthcare practitioners, government policy leaders and patients have the best available evidence to make informed decisions on medical cannabis within their regulatory frameworks and practices.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is publicly traded on the TSX-Venture exchange, and a leading diversified producer of medical cannabis through its wholly owned subsidiaries Tweed, Bedrocan Canada, and Tweed Farms. The Company operates a collection of diverse brands and curated strain variety, supported by over half a million square feet of indoor and greenhouse production capacity.
Tweed is the most recognized marijuana production brand in the world. 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.
Tweed production occurs across two distinct production sites. Tweed Smiths Falls is housed in the former Hershey Chocolate factory at 1 Hershey Drive, and comprises 40 acres of land with over 500,000 sq. ft. of available space. Tweed occupies 168,000 sq. ft. of licensed production space, plus office space where Canopy's head office drives the vision forward. It is a data-driven, automated and lean operation, housing an R&D facility, oil extraction infrastructure, and in-house lab. Precise climate controlled spaces for each stage of cannabis production, from clone to cured bud, allows for the highest quality and widest variety of product in the sector.
Tweed Farms is the largest marijuana-producing greenhouse in the world, with over 350,000 square feet of licensed cannabis production space. The scale and the passive processes allow the Farm to produce environmentally friendly cannabis at an extremely competitive cost per gram. The Farm combines traditional and state-of-the art agricultural techniques, using the natural power of the sun and recycled rainwater to nurture genetically identical plants produced in the on-site tissue culture propagation lab.
Tweed is partnered with some of the leading names in the sector including legendary breeders DNA Genetics and iconic cannabis connoisseur Snoop Dogg.
About MedCann GmbH Pharma and Nutraceuticals
MedCann GmbH was founded in June 2015 by Dr. Pierre Debs and Rainer Hofmann. MedCann GmbH is an importer, manufacturer and distributor of medical cannabis products and is federally licensed by the German Heath Ministry. Dr. Debs is a stem cell biologist with over 25 years research experience at world class research universities in the US and Europe. Rainer Hofmann is a successful businessman having established and directed a variety of businesses in the Heidelberg area for over 20 years. MedCann GmbH operates under strict GMP and GDP guide-lines for all aspects of sourcing, transporting and releasing medical cannabis products.
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 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
Image with caption: "Tweed's cannabis products will be available in German pharmacies in the coming weeks. (CNW Group/Canopy Growth Corporation)". Image available at: http://photos.newswire.ca/images/download/20160725_C2026_PHOTO_EN_740547.jpg
For further information: Media: Jordan Sinclair, [email protected], 855-558-9333 ex 309; Investors: Tyler Burns, [email protected], 855-558-9333 ex 122; Director: Bruce Linton, CEO, [email protected]; Pierre Debs, CEO, [email protected]