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

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

Under the conditions of the arrangement, 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 start on October 17, 2018. Manitobans can look forward to an industry-leading lineup of products out of Tweed, the best-known cannabis brand in Canada, in addition to companion brands including 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 positioned to increase supply at the request of the MBLL.

“Signing a supply arrangement with Canopy Growth ensures that Manitoba residents will have access to a dependable source of the most exciting brands and cannabis products available,” said Mark Zekulin, President, Canopy Growth.

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 look forward to receiving a Tweed-branded experience in a brick and mortar environment. Additionally, Canopy Growth expects to make an announcement on the locations of its own retail stores across the Province in the not too distant future.

As an indicator of its willingness for the recreational market, Canopy Growth has finished supply agreements with five states 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 legal earnings with varying incremental multi-year obligations by province.

With an industry leading production platform, finished supply agreements, and dedicated retail where permitted by provincial regulations, Canopy Growth is well positioned to satisfy up with the demand from this new and exciting marketplace in Manitoba and across Canada.

Here’s to Future Growth.

Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct 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 creating a world-class cannabis company 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 leader Constellation Brands, to mention but a few. Canopy Growth functions ten cannabis production websites 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 eight countries across five continents. The business is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through partly owned subsidiary Canopy Rivers Corporation, the Company is providing investment and resources to new market entrants and building a portfolio of stable investments in the sector. From our historical public record to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth.  To learn more visit www.canopygrowth.com

SOURCE

Released at Fri, 29 Jun 2018 14:30:18 +0000

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