Approval Positions Company to Become First Cannabis Producer
Traded on the TSX
SMITHS FALLS, ON, June 08, 2016 /CNW/ - Canopy Growth Corporation
(TSX.V:CGC) ("Canopy Growth" or the "Company") is pleased to
announce it has received conditional approval from the Toronto
Stock Exchange (the "TSX") to graduate from the TSX Venture
Exchange and list its common shares on the TSX, representing
another major industry first for the Company.
Canopy Growth was the first federally approved, publicly traded
cannabis producer in North America
when it listed on the TSX Venture Exchange in April 2014. It was also the first geographically
diversified producer with multiple production licenses and the
first in the sector to surpass $100M
market capitalization.
"Graduating to the TSX, and to be the first in the sector to
achieve it, is a major accomplishment for our team," said
Bruce Linton, Chairman and CEO,
Canopy Growth. "The sector is growing rapidly and we have focused
on maintaining our leadership position as it grows. Listing on the
TSX will bring even more visibility and credibility as we pursue
domestic and international business."
The Company wishes to thank the TSX Venture Exchange for
facilitating its listing since 2014. Public trading has allowed
Canopy Growth to operate transparently in an emerging sector that
required an unprecedented level of openness in order to be
understood. Management welcomes the exposure the new listing will
bring from retail investors and institutional managers.
Final approval of the listing is subject to Canopy meeting
certain standard requirements of the TSX on or before September 1st, 2016. The Company
expects to satisfy all of the requirements and will make a further
announcement once the TSX has issued a bulletin confirming the date
on which trading on the TSX will commence. Upon completion of the
final listing requirements, Canopy Growth's common shares will be
delisted from the TSX Venture Exchange.
Fourth Quarter Financial Results
Financial results for Q4 2016 and FY 2016, the three and
12-month periods ended March
31st, 2016 will be released prior to the end of
June 2016. Additional details,
including dial-in information for the quarterly conference call
will be released one week prior.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is Canada's first
publicly traded medical marijuana company and the first
geographically diversified producer with dual licenses under the
Marihuana for Medical Purposes Regulations. Through its
wholly owned subsidiaries, Tweed, Tweed Farms, and Bedrocan, the
Company operates three state-of-the-art production facilities in
Ontario and distributes marijuana
across the country to Canadian patients managing a host of medical
conditions. The Company is dedicated to educating healthcare
practitioners, providing consistent access to high quality
medication, conducting robust clinical research, and furthering the
public's understanding of how marijuana is used for medical
purposes. 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, 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Canopy Growth Corporation