Major Operational Milestones for Spectrum Cannabis in Europe: Plants and Merchandise on the Move

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) is pleased to offer an update on the operations of its European subsidiaries as the company continues its pursuit of sustainable market growth, ranging from manufacturing and processing to distribution in legal European markets.

Successful clone transfer brings Spectrum Cannabis Denmark significantly closer to producing European-grown cannabis

With the successful transfer of live cannabis clones from Madrid-based partner, Alcaliber SA (“Alcaliber”) into Spectrum Cannabis Denmark ApS (“Spectrum Cannabis Denmark”), the business continues its growth in Europe. Soon, export from Canada to Europe will be substituted with European GMP production. With legal frameworks in place in the major markets of Germany and Italy, the Company is applying its proven strategy of investing early in best-in-class GMP production platforms to offer patients and regulators a reliable source of medical cannabis close to home. 

Having sustainable regional manufacturing capacity sufficient to meet demand is center to the European plan for Spectrum Cannabis and growing operations have now begun at the Company’s greenhouse facility in Odense, Denmark.

Representing an important step forward for European distribution capabilities, the business has completed a transfer of high quality medical cannabis from Spektrum Cannabis Germany into Annabis Medical s.r.o., both wholly-owned subsidiaries of the business.

In addition, as part of growing a consistent operation across Europe, the newly obtained Annabis Medical will be functioning as Spectrum Cannabis Czech s.r.o. (“Spectrum Cannabis Czech”).

Finalizing the item transfer only two months after acquiring Annabis speaks to the provider’s desire to rapidly serve new markets like the Czech Republic, and cement its position in the minds of physicians and pharmacists as the preeminent cannabis manufacturer operating within the European continent.

Comment on operations and strategic growth across Europe

“We have been and continue to be focused on being the medical cannabis pioneer in Europe, by bringing the experience and credibility we’ve established in Canada to European markets,” stated Mark Zekulin, President, Canopy Growth. “These achievements involving four countries that are not Canada reflect our commitment to establishing a strong foundation in Europe, focused not only on high quality manufacturing but also medical education and a grounded dialogue about cannabis.”

Simplified.  (Even if the operations are complex.)

About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp firm, offering different brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to market implementation, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis business one product, website and country at a time.

Canopy Growth has established partnerships with major sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol pioneer Constellation Brands, to mention but a few. Canopy Growth operates ten licensed cannabis production sites with over 2.4 million square feet of manufacturing capacity, including over 500,000 square feet of GMP-certified manufacturing space. The business has operations in nine countries across five continents. The business is proudly dedicated to educating healthcare professionals, conducting strong clinical research, and furthering the public’s understanding of cannabis. Through its partly owned subsidiary, Canopy Health Innovations, Canopy Growth has invested millions of dollars toward cutting edge, commercializable research and IP development. Through its partly owned subsidiary Canopy Rivers Corporation, the business provides resources and investment to new market entrants in order to build a portfolio of investments that are stable in the sector. From our historic public record on the Toronto Stock Exchange and New York Stock Exchange to our continued global growth, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. To learn more visit www.canopygrowth.com

Spectrum Cannabis is a global medical business which interfaces with healthcare professionals and patients around the globe. Founded in Canada, Spectrum Cannabis works in Australia, South America, Africa and across Europe. Spectrum Cannabis products are available in a wide range of potencies and formats designed to simplify the dialogue around strength and dosage by applying a colour-coded Spectrum to categorize medical cannabis according to THC and CBD levels. Its product lineup includes whole flower cannabis, oils and new innovations such as Softgels. Through product simplification, simple dosing formats, its Compassionate Pricing Software, in addition to ongoing education of healthcare professionals, Spectrum is committed to enhancing the lives of medical cannabis patients around the globe.

SOURCE

Published at Mon, 25 Jun 2018 14:33:46 +0000

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