Final 190,000 sq. ft. Greenhouse Licensed. Total of 700,000 sq.
ft. of Production and Processing Infrastructure Now Fully
Licensed
MIRABEL, QC, May 28, 2019 /CNW/ - Les Serres Vert
Cannabis Inc. ("Vert Mirabel"), a subsidiary of Canopy Growth
Corporation (TSX: WEED) (NYSE: CGC) ("Canopy Growth") and a
portfolio company of Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF)
("Canopy Rivers") has received its final cultivation licence from
Health Canada. All 700,000 sq. ft. of operating space at Vert
Mirabel is now licensed for cannabis production. Vert Mirabel
was established in December 2017
between Canopy Growth, Canopy Rivers, and Les Serres Stéphane
Bertrand ("Bertrand").
"We are thrilled that the operational infrastructure at Vert
Mirabel is now fully online with over 500,000 sq. ft. already in
production," said Olivier Dufourmantelle, Chief Operating Officer,
Canopy Rivers. "Vert Mirabel is a
key asset for Canopy Rivers as it provides exposure to a
commercially scaled source of locally grown, premium quality
cannabis for distribution into Québec and across the country."
The licence for Vert Mirabel increases the facility's growing
space by 190,000 sq. ft. It brings Canopy Growth's total Canadian
licensed production footprint to approximately 4.6 million sq. ft,
another step towards its nearly 5.6 million sq. ft. national
platform. The Vert Mirabel facility leverages Bertrand's
multi-generational greenhouse operational expertise to produce
high-quality cannabis.
"The final licence for Vert Mirabel strengthens our operations
and will allow us to increase supply to meet the recreational
market demand," said Mark Zekulin,
President and co-CEO, Canopy Growth. "From everyone at Canopy
Growth, we congratulate the Bertrand family and their team for
achieving a fully licensed, large-scale cannabis operation in under
18 months."
Bertrand is a large-scale greenhouse operator and, prior to
converting to cannabis, it was the largest producer of pink
tomatoes in Canada. "We are proud
to announce that our venture with Canopy Growth and Canopy Rivers
has reached this milestone," said Stéphane Bertrand. "Obtaining
this licence will allow us to pursue our production goals in order
to expand our footprint to meet the needs of the Québec
market."
Here's to Future Growth (in Québec).
About Canopy Growth Corporation
Canopy Growth
(TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp
and cannabis device company, offering distinct brands and curated
cannabis varieties in dried, oil and Softgel capsule forms, as well
as medical devices through the Company's subsidiary, Storz &
Bickel GMbH & Co. KG. 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
company one product, site and country at a time. The Company has
operations in over a dozen countries across five continents.
The Company's medical division, Spectrum Therapeutics is proudly
dedicated to educating healthcare practitioners, conducting robust
clinical research, and furthering the public's understanding of
cannabis, and has devoted millions of dollars toward cutting edge,
commercializable research and IP development. Spectrum Therapeutics
sells a range of full-spectrum products using its colour-coded
classification Spectrum system as well as single cannabinoid
Dronabinol under the brand Bionorica Ethics.
The Company operates retail stores across Canada under its award-winning Tweed and Tokyo
Smoke banners. Tweed is a globally recognized cannabis brand which
has built a large and loyal following by focusing on quality
products and meaningful customer relationships.
From our historic public listing on the Toronto Stock Exchange
and New York Stock Exchange to our continued international
expansion, pride in advancing shareholder value through leadership
is engrained in all we do at Canopy Growth. Canopy Growth has
established partnerships with leading sector names including
cannabis icons Snoop Dogg and Seth
Rogen, breeding legends DNA Genetics and Green House Seeds,
and Fortune 500 alcohol leader Constellation Brands, to name but a
few. Canopy Growth operates eleven licensed cannabis production
sites with over 4.6 million square feet of production capacity,
including over one million square feet of GMP certified production
space. For more information visit www.canopygrowth.com.
Notice Regarding Forward Looking Statements
This news
release contains statements which constitute "forward-looking
information" within the meaning of applicable securities laws,
including statements regarding the plans, intentions, beliefs and
current expectations of the Company with respect to future business
activities and operating performance. Forward-looking information
is often identified by the words "may", "would", "could", "should",
"will", "intend", "plan", "anticipate", "believe", "estimate",
"expect" or similar expressions and includes information regarding
the pedigree quality of infrastructure; Vert Mirabel being a
provider of choice for Québec; and expectations for other economic,
business, and/or competitive factors.
Investors are cautioned that forward-looking information is not
based on historical facts but instead reflects management's
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of
management considered reasonable at the date the statements are
made. Although the Company believes that the expectations reflected
in such forward-looking information are reasonable, such
information involves risks and uncertainties, and undue reliance
should not be placed on such information, as unknown or
unpredictable factors could have material adverse effects on future
results, performance or achievements of the Company. Among the key
factors that could cause actual results to differ materially from
those projected in the forward-looking information are the
following: regulatory and licensing risks; the ability of Vert
Mirabel to obtain a licence to sell cannabis under applicable
legislation in Canada; the ability
to secure distribution and sales channels; changes in general
economic, business and political conditions, including changes in
the financial markets; potential conflicts of interest; the
Canadian regulatory landscape and enforcement related to cannabis,
including political risks and risks relating to regulatory change;
changes in applicable laws; compliance with extensive government
regulation; public opinion and perception of the cannabis industry;
and the risk factors set out in the Circular, filed with Canadian
securities regulators and available on the Company's profile on
SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking information
prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed,
estimated or expected. Although the Company has attempted to
identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Canopy Growth Corporation