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

Continuing the subject of securing major supply agreements in each Canadian province and territory with declared supply strategies, Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) (the”Company” or”Canopy Growth”) is proud to announce that cannabis grown in its Delta and Aldergrove facilities, its other websites across the nation, 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 amount referenced is a delivery requirement agreed to in the MOU, not an internal allocation.

“Investing in a dependable, national manufacturing footprint early has made all the difference as provincial partners evaluate potential supply sources,” said Mark Zekulin, President & Co-CEO. “We have established a solid presence in BC with advanced greenhouse facilities in Delta and Aldergrove and we can not wait to see the BC bud we’re currently growing and harvesting at both websites readily available on store shelves.”

The Company’s supply commitments to seven provinces and one territory including 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 provinces 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 working across the nation, and the rest of several sites ready and awaiting licensing, development continues to guarantee whole licensing is achieved in the near future to ensure sufficient supply across the country.

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 market execution, 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 one 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 websites 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 strong clinical research, and furthering the public’s understanding of cannabis, and through its partially owned subsidiary, Canopy Health Innovations, has committed millions of dollars toward cutting edge, commercializable research and IP development. Through partially owned subsidiary Canopy Rivers Corporation, Canopy Growth is providing resources and investment into new market entrants and building a portfolio of investments that are stable in the sector. From our historical public record to our continued global expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. For more information visit www.canopygrowth.com

Frequently, but not always, forward-looking statements and data can be identified by the use of phrases such as”plans”,”anticipates” or”doesn’t expect”,”is expected”,”estimates”,”intends”,”anticipates” or”doesn’t anticipate”, or”believes”, or variations of such words and phrases or state that certain actions, events or results”may”,”could”,”could”,”might” or”will” be taken, occur or be achieved. Forward-looking statements or data involve known and unknown risks, uncertainties and other factors which may 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 information contained in this news release. Examples of such statements include statements with respect to future market involvement in British Columbia. 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 data, including the Company’s ability to sell cannabis products from its sites in BC retailers and/or such dangers contained in the Company’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. Even though the Company believes that the assumptions and variables used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be put on such information and no assurance can be given that such events will happen in the revealed time frames or at all. The forward-looking information and forward-looking statements contained in this news release are made as of the date of the news release and the Company doesn’t 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.

View original content: http://www.newswire.ca/en/releases/archive/July2018/12/c5012.html

Released at Thu, 12 Jul 2018 12:42:08 +0000

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