SMITHS FALLS, ON, Nov. 22, 2017 /CNW/ - Canopy Growth
Corporation (TSX: WEED) ("Canopy Growth" or the "Company") is
pleased to see further progress as the federal government proposes
possible scenarios for the governance of the new cannabis system.
This level of detail, subject to improvements and iterations
through the final drafting stages, allows the Company to continue
to develop and refine an aggressive expansion agenda to meet the
needs of medical and adult-use consumers with high quality cannabis
products. Many of the security measures proposed in the draft
regulations will allow the Company to scale existing facilities
more rapidly due to reduced regulatory burdens and security
infrastructure, without sacrificing the underlying rigour of the
supply chain itself.
Canada has built a world-class
system for the production of cannabis, and much of the proposed
system builds upon the strengths of the existing production and
distribution system. Canopy is pleased to see the introduction of
special provisions for "micro-growers", as this effort to support
new and smaller growers is consistent with the ethos of Canopy,
which supports a wide variety of growers already through its Craft
Grow program. Canopy has built a value-add processing, care and
distribution network second to none, and looks forward to seeing
more entrants join the market and welcomes the opportunity to build
upon its growing roster of CraftGrow partners.
While plain packaging regulations are not mentioned in the draft
regulations, Canopy Growth continues to place value on the proposed
self-regulatory model it helped create along with 17 other Licensed
Producers which were developed in consultation with Ad Standards
Council. Brand differentiation and education must be allowed in
order to successfully transition out of prohibition and replace the
black market.
Finally, Canopy Growth is particularly pleased with the hemp
provisions in the draft regulations. Canopy was an early advocate
of hemp production, having acquired several hemp companies early on
through its acquisition strategy. With a focus on crop-scale
production, CBD extraction technology and value-add consumer
products, the Company is pleased to now bring its hemp
strategy to fruition to provide a revenue stream to complement
existing cannabis revenue to build additional value for Canopy
Growth's shareholders.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis company, offering distinct
brands and curated cannabis varieties in dried, oil and capsule
forms. Through its wholly‑owned subsidiaries, Canopy Growth
operates numerous state-of-the-art production facilities with over
700k sq. ft. of licensed production, over 500k sq. ft. of which is
GMP-certified. Looking forward to 2018, Canopy Growth and its
affiliates are developing a production platform that will represent
3.2 million sq. ft. of indoor and greenhouse production capacity,
all operated with world-leading production, quality assurance
procedures, value-add post processing, research, and testing.
Canopy Growth has established partnerships with leading sector
names in Canada and abroad, with
interests and operations spanning seven countries and four
continents. The Company is proudly dedicated to educating
healthcare practitioners, providing consistent access to high
quality cannabis products, conducting robust clinical research, and
furthering the public's understanding of cannabis. For more
information visit www.canopygrowth.com.
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factors which may cause the actual results, performance or
achievements of Canopy Growth Corporation, Tweed Inc., Tweed Farms
Inc. or Bedrocan Canada Inc. to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Examples of such statements include
future operational and production capacity, the impact of enhanced
infrastructure and production capabilities, and forecasted
available product selection. The forward-looking statements
included in this news release are made as of the date of this news
release and Canopy Growth Corp. does not undertake an obligation to
publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise unless required by
applicable securities legislation.
SOURCE Canopy Growth Corporation