Canopy Growth Completes Supply Agreement With the Manitoba Liquor and Lotteries Corporation

Canopy Growth Corporation (“Canopy Growth” or the”Company”) (TSX: WEED) (NYSE: CGC) is very happy to announce that it has completed an agreement with the Manitoba Liquor and Lotteries Corporation (“MBLL”) to supply the province with high quality cannabis products.

Under the conditions of the agreement, Canopy Growth will supply the Manitoba marketplace with up to 6,500 kilograms of cannabis products during the next twelve months to meet demand from the adult use recreational cannabis market set to open on October 17, 2018. Manitobans can anticipate an industry-leading lineup of products from Tweed, the best-known cannabis brand in Canada, as well as partner brands such as DNA Genetics and Leafs By Snoop.

The MBLL also retains the right to extend the agreement for up to another twelve months. Additionally, Canopy Growth is set to increase supply at the request of the MBLL.

“Signing a supply agreement with Canopy Growth ensures that Manitoba residents will have access to a dependable supply of the most exciting brands and cannabis products available,” said Mark Zekulin, President, Canopy Growth. “As we move closer to a legal adult use cannabis market, supply agreements in this way directly support Canopy Growth’s strategy for capturing and increasing market share.”

This agreement builds upon the conditional approval of the consortium application submitted by Canopy Growth and Delta 9 Cannabis Inc. to operate retail locations in the province. Manitoba is the third province, along with Saskatchewan and Newfoundland & Labrador, where adult-use consumers can anticipate receiving a Tweed-branded experience in a physical environment. Additionally, Canopy Growth expects to make a statement on the locations of its own retail stores across the Province in the not too distant future.

As an indicator of its readiness for the recreational market, Canopy Growth has completed supply agreements with five provinces and one territory, including New Brunswick, Newfoundland & Labrador, Prince Edward Island, Quebec, Yukon, and now Manitoba totaling 31,500 kilograms of diversified cannabis products in the first year of authorized sales with varying incremental multi-year obligations by province.

With an industry leading manufacturing platform, completed supply agreements, and committed retail where permitted by provincial regulations, Canopy Growth is well positioned to satisfy the demand from the new and exciting marketplace in Manitoba and across Canada.

Here’s to Future Growth.

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

Canopy Growth has established partnerships with leading sector names such as cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth functions 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. The business has operations in eight countries across five continents. The business is proudly dedicated to educating healthcare professionals, conducting robust clinical study, 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 organization is providing resources and investment into new market entrants and building a portfolio of stable investments in the sector. From our historic public listing 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

Often, but not always, forward-looking statements and information 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”,”would”,”might” or”will” be taken, occur or be achieved. Forward-looking statements or information 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 information contained in this news release. Examples of such statements include statements with respect to”future retail in the province of Manitoba”. 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 provider’s ability to meet provincial sales contracts or provinces purchasing all cannabis allocated to them, and such dangers contained in the Company’s annual information form dated June 28, 2017 and filed with Canadian securities authorities available on the Company’s issuer profile on SEDAR at www.sedar.com. Even though 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 disclosed 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 information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

View original content: http://www.newswire.ca/en/releases/archive/June2018/29/c2109.html

Published at Fri, 29 Jun 2018 11:02:09 +0000

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