SMITHS FALLS, ON, Nov. 11, 2015 /CNW/ - Tweed Inc. (Tweed), wholly owned subsidiary of Canopy Growth Corporation ("Canopy Growth" or "the Company") (TSX.V: CGC) has invited Health Canada's inspectors to its production facility to conduct a final inspection of the company's line of cannabis oil products and production practices. The Company is pleased to take this important step forward.
Tweed installed commercial super-critical CO2 extraction equipment in the Smiths Falls facility and has refined extraction processes since receiving its production license from Health Canada on August 20, 2015. Third-party lab results confirm that Tweed is capable of producing extracts that exceed the regulator's strict guidelines for purity, cleanliness and quality.
"Doctors and customers have shown a real desire for cannabis that they don't have to inhale," said Bruce Linton, Chairman and CEO of Canopy Growth. "We've placed a great deal of effort into the new product line and look forward to working with Health Canada to complete the licensing process and start filling orders."
Tweed and it's sister company Bedrocan Canada Inc. (Bedrocan) will each produce lines of cannabis extract oils balanced with non-GMO, organic-certified sunflower oil to meet Health Canada's potency requirements.
Each line will be reflective of their unique dried cannabis offerings. Tweed will focus on a diverse array of products supported by 518,000 sq. ft. of licensed production space. Bedrocan will offer oils produced from the industry's only line of fully standardized strains.
Tweed will also launch a new section of its website, the Tweed Pantry, to supplement the arrival of cannabis oils with educational resources, safety tips, recipes from renowned culinary personalities, and more.
Canopy Growth Corporation will release quarterly results for the three and six-month period ended September 31st, 2015 (Q2) on November 26, 2015. Bruce Linton, Chairman and CEO, and Tim Saunders, CFO, will hold a conference call to discuss the financial and operational highlights of Q2 and provide a holistic update of subsequent events. Conference call details will follow.
Here's to Future Growth.
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 Cannabis Corp., 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, and furthering the public's understanding of how marijuana is used for medical purposes. For more information visit www.canopygrowth.com
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 Canopy Growth Corporation
For further information: Jordan Sinclair, Communication Manager, 613-706-2185 ex 309, [email protected]