SMITHS FALLS, ON, Jan. 5, 2018 /CNW/ - In response to news out
of the United States Department of Justice yesterday morning
regarding federal cannabis laws in the
United States and further to press releases issued Oct
17, 2017 and Aug. 4,
2017, Canopy Growth Corporation (TSX: WEED) ("Canopy Growth"
or the "Company") wishes to reiterate its commitment to only
conducting business in jurisdictions where that conduct is
federally legal and otherwise in compliance with all applicable
laws.
Canopy Growth does not and will not conduct business in any
jurisdiction unless it is federally permissible. Conducting
activities which are federally illegal, or investing in companies
which do, exposes the Company to increased risk of prosecution.
Such activities would compromise Canopy Growth's ability to operate
freely, and could jeopardize the Company's listing eligibility on
major securities exchanges now and in the future, and limit access
to capital from reputable US-based funds and world-class
partners.
"We want to make our position as clear as possible: While Canopy
does not support continued cannabis prohibition, it is Management's
view that confusion surrounding federal cannabis laws in
the United States presents
advantages for Canopy Growth, not risks. We are confident in our
position because we have exclusively focused on ethical,
responsible and legal cannabis opportunities across the globe and
not in the United States,"
said Bruce Linton, Chairman & CEO, Canopy Growth. "We want
to assure our shareholders that they are not being exposed to undue
risk."
Here's to Future Growth.
About Canopy Growth Corporation
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 building a world-class cannabis
company one product, site and country at a time.
Canopy Growth has established partnerships with leading sector
names including 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
operates seven cannabis production sites with over 665,000 square
feet of production capacity, including over 500,000 square feet of
GMP-certified production space. The Company has operations in seven
countries across four continents. The Company 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
resources and investment to new market entrants and building a
portfolio of stable investments in the sector. From our historic
public listing to our continued international expansion, pride in
advancing shareholder value through leadership is engrained in all
we do at Canopy Growth. For more information
visit www.canopygrowth.com
Notice Regarding Forward Looking Statements
This news
release contains forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"estimates", "intends", "anticipates" or "does not 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 involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Canopy Growth Corporation, its subsidiaries, or its
affiliates 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 Corporation 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.
Neither the TSX Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation