2018-08-22 07:10 ET - News Release
CANOPY GROWTH RECEIVES AMENDED LICENCES FROM HEALTH CANADA
Canopy Growth Corp. has received amended licences from Health Canada that increase the size and sophistication of its national footprint.
The amended licences include a near doubling of growing capacity at its Smiths Falls campus at 1 Hershey Dr., an additional 223,200 square feet of cultivation space at its majority-owned Les Serres Vert Cannabis Inc. greenhouse in Mirabel, Que., and a licence for a highly automated, state-of-the-art distribution centre located at its Smiths Falls campus.
Increased production capacity at the Smiths Falls and Mirabel sites will increase Canopy's ability to reach consumers in every market once recreational sales are permitted in October, 2018. In Smiths Falls, the specific licensed rooms will also become part of a new Tweed visitor centre experience that is launching Aug. 25, 2018. Adults over 19 years of age will be able to stroll along the catwalk Hershey left behind and look down on a new era of production activity.
The distribution centre will serve as Canopy Growth's hub for business to business (B2B) and business to consumer (B2C) distribution across Canada. The facility will play a central role in the company's strategy for meeting the strong demand for medical cannabis as well as the anticipated demand from the soon-to-be-legalized adult-use recreational cannabis market.
"We've been focused on building an industry-leading growing, value-add and distribution platform across Canada and today we took steps to make it considerably larger and more sophisticated. The new highly automated distribution centre is critical to operating in an efficient and cost-effective manner, while meeting the needs of our provincial partners," said Mark Zekulin, president and co-chief executive officer, Canopy Growth.
At over 80,000 square feet, the distribution centre in Smiths Falls was designed by distribution industry leaders and is truly the gold standard with fully automated high-speed packing and excise stamp labelling lines.
Canopy Growth's industry-leading platform across Canada now includes over 2.7 million square feet of existing, fully licensed capacity, along with award-winning brands, a network of licences for retail stores, and a proven record as the country's leading medical cannabis provider with more registered patients and product sold than anyone else. While the company still has significant required infrastructure awaiting final regulatory approval for use, today's announced amendments bring the company one step closer to readiness for October's planned recreational cannabis market.
About Canopy Growth Corp.
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and soft-gel 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.
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