SMITHS FALLS, ON, Nov. 20, 2015 /CNW/ - Tweed Inc. ("Tweed"), a wholly owned subsidiary of Canopy Growth Corporation ("Canopy Growth" or "the Company") (TSX.V: CGC) has successfully renewed its license to produce and sell marijuana under Health Canada's Marihuana for Medical Purposes Regulations (MMPR).
The renewed license, which is valid for 14 months until January 19, 2017, allows Tweed to produce and sell up to 3,500 kg of dried marijuana. In addition, Health Canada has renewed Tweed's supplemental license to produce fresh marijuana and/or cannabis oil, over the same period.
"This is an indication that Health Canada has confidence in Tweed's ability to continue to meet the rigorous production, product quality, and security requirements of the regulatory regime," said Bruce Linton, Chairman and CEO of Canopy Growth. "Producing cannabis of this level of quality on a large scale, ensuring it is delivered strictly to the designated registered patient, and ensuring the customer care experience is consistently exceptional, requires a high degree of expertise across multiple functional areas. Tweed continues to prove that we are unsurpassed in these capabilities."
"We now look forward, subject to regulatory approval, to achieving our next key license milestones, including full licensing of Tweed Farms' 350,000 square foot greenhouse, and a license to sell cannabis oils," said Mr. Linton.
Here's to (another year of) Future Growth.
Canopy Growth Fiscal 2016 Q2 Results Analyst Call
An analyst call is scheduled for 8:30 am ET, Thursday, November 26, 2015. Bruce Linton, Chairman and CEO of Canopy Growth Corporation, and Tim Saunders, CFO of the Company will provide a financial and operational update covering Fiscal 2016 Q2.
Dial in: (888) 231-8191
Conference ID: 82631795
About Tweed Inc.
Tweed Inc. is a Canadian company licensed under the Marihuana for Medical Purposes Regulations to produce and sell marijuana to authorized 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 dual licenses under the Marihuana for Medical Purposes Regulations. Through its wholly owned subsidiaries, Tweed Inc., Tweed Farms Inc., and Bedrocan Canada Inc., the Company operates three state-of-the-art production facilities in Ontario and distributes cannabis 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, and furthering the public's understanding of how marijuana is used for medical purposes. For more information visit www.canopygrowth.com
Neither the 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.
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 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 Tweed Marijuana Inc.
For further information: Jordan Sinclair, Communications Manager, [email protected], 613-704-2185 ex 309