Canopy Growth announces five locations in Saskatchewan

Canopy Growth Corporation (TSX: WEED) (“Canopy Growth” or the”Company”) is pleased to announce that it has been selected to apply for five cannabis retail permits by the Saskatchewan Liquor and Gaming Authority (SLGA). This makes Saskatchewan the third province in Canada, after Manitoba and Newfoundland and Labrador, where cannabis consumers will be able to receive a Tweed-branded user experience in a physical environment. The permits will allow the enterprise to open cannabis retail locations to serve the adult market after legalization and include the capacity to operate an internet store serving the entire province via e-commerce.

“We are proud to be selected as a reliable partner in Saskatchewan and look forward to building out retail presence across the province,” said Mark Zekulin, President, Canopy Growth. “These new sites are the next step in stretching our retail footprint across the country and cement our commitment to a strong presence in Saskatchewan in addition to our Tweed Grasslands site.”

The five retail sites will be found at Humboldt, Meadow Lake, the Rural Municipality of Corman Park, Melville, and Fort Qu’Appelle. When coupled with Canopy Development’s existing growth operations, and the ability to supply other cannabis retailers across the province, the business is well positioned as a key participant in Saskatchewan.

“We are focused on ensuring cannabis is a force for good and we look forward to our future retail sites contributing positively to all the communities they operate in,” said Andrew MacCorquodale, Head of Operations for Western Canada, Canopy Growth, and founder of Tweed Grasslands. “This is an exciting time for Saskatchewan as we develop this new business creating jobs and economic development while also positioning the province as a worldwide pioneer in hemp production.”

Canopy Growth now operates the Tweed Grasslands site in Yorkton, Saskatchewan. This ACMPR licensed facility supports cannabis and hemp operations with a focus on improving the efficiency of the CBD supply chain.      

The ability to apply for the permits follows the completion of a two-stage procedure which included an initial screening for capacity and the capacity for inventory tracking in addition to reporting, followed by a random selection of qualified applicants (lottery).

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About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering different brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to promote implementation, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis business 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 pioneer 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 business has operations in seven countries across four continents. The business is proudly dedicated to educating healthcare professionals, conducting robust clinical research, and furthering the public’s understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has committed 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 investments that are stable in the sector. From our historical 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 see www.canopygrowth.com 

Often, but not always, forward-looking statements and data 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 or data involve known and unknown risks, uncertainties and other factors that might cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or advice contained in this news release. Examples of such statements include statements with respect to”can receive”,”permit the enterprise to open cannabis retail locations to serve”,”to operate an internet store serving the entire province via e-commerce”,”to building out retail presence across the province”,”will be found”,”ability to provide additional cannabis retailers”,”look forward to our future retail sites contributing positively”,”we develop this new business creating jobs and economic development while also positioning the province as a worldwide pioneer in hemp production”,”improving the efficiency of the CBD supply chain”,  and”to execute cannabinoid extraction”. . Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the availability of appropriate retail locations in the identified communities, the timing of the opening of retail locations,  the willingness of retailers to carry and sell cannabis products from particular licensed producers, the adoption of regulations permitting the creation and sale of particular value-added hemp-based goods and such risks contained in the firm’s annual information form dated June 28, 2017 and filed with Canadian securities regulators which can be found on the Company’s issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance shouldn’t be put on such information and no assurance can be given that such events will occur in the revealed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of the news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking data to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

SOURCE Canopy Growth Corporation

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Published at Fri, 01 Jun 2018 19:19:44 +0000

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