Canopy Enters MOU with BC Liquor Distribution Branch to Supply British Columbian Market

Continuing the theme of procuring major supply agreements in each Canadian province and territory with declared supply strategies, Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) is proud to announce that cannabis grown in its Delta and Aldergrove facilities, its other sites throughout the country, and goods from its CraftGrow partners will be sold in good retailers, both government-operated and private, across the province of British Columbia post-prohibition.

Canopy Growth entered into a supply MOU with the BC Liquor Distribution Branch to make available 5,719 kg of high-quality cannabis products in the first 12-months following October 17, 2018. The quantity referenced is a delivery requirement agreed to in the MOU, not an internal allocation.

“Investing in a dependable, national manufacturing footprint ancient has made all the difference as provincial partners assess potential supply sources,” stated Mark Zekulin, President & Co-CEO. “We’ve established a strong presence in BC with state-of-the-art greenhouse facilities in Delta and Aldergrove and we can’t wait to see the BC bud we’re currently growing and harvesting at both sites readily available on store shelves.”

The provider’s supply commitments to seven states and one territory such as New Brunswick, Newfoundland & Labrador, Prince Edward Island, Quebec, Yukon, Manitoba, Alberta, and now B.C., combine for a total of over 67,000 kilograms of premium cannabis products from whole-flower to oils and Softgels on an annualized basis. 

Canopy Growth’s national manufacturing platform includes facilities in seven states across Canada including its two BC Tweed greenhouses which combine 3 million sq. ft. of growing space. With over 2.4 million sq. ft. of facilities actively licensed and operating across the country, and the remainder of several sites ready and awaiting licensing, development continues to ensure whole licensing is reached in the near future to ensure sufficient supply throughout the country.

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 promote execution, 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 major 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 ten cannabis production sites with over 2.4 million square feet of manufacturing capacity, including over 500,000 square feet of GMP-certified manufacturing space. Canopy Growth has operations in eight countries across five 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, Canopy Growth is providing resources and investment to new market entrants and constructing a portfolio of stable investments in the sector. From our historic public record to our continued global expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. To learn more visit www.canopygrowth.com

Original Release

Released at Thu, 12 Jul 2018 14:21:55 +0000

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