Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) (the “Company” or “Canopy Growth”), through its wholly-owned subsidiary Tweed Inc., has been selected as an approved supplier by the Ontario Cannabis Store (“OCS”) to supply a wide variety of cannabis products through its online store starting October 17th, 2018.
Specific quantities will be disclosed once those details have been released by the province. In total, Tweed has successfully listed over 100 cannabis SKUs across multiple formats including pre-rolled joints, dried flower, oils, and softgel capsules.
“Today marks another significant milestone for us as we’ve officially ensured Ontarians will have access to a huge variety of Tweed-branded products,” said Mark Zekulin, President & Co-CEO, Canopy Growth. “With our private retail plan being rolled out in other provinces, our attention in Ontario will now turn to bricks and mortar shops in this key market.”
Canopy Growth applauds the Province of Ontario’s recent decision to initiate a private cannabis retail network. It is an incredible opportunity that will see the private sector make investments around the province, reducing taxpayer dollars spent while maintaining a smart, centralized warehouse inventory system.
Private retail is a more profitable business model which will also allow Tweed to build a deeper connection with its customers.
Every detail of Tweed’s retail stores, from the backend point of sale and loss prevention systems to the fixtures on the walls, have been finalized. With the prep work complete, Tweed stores can be opened within weeks of receiving the green light.
With today’s announcement Canopy Growth continues its streak of being included in every province and territory’s supply plans. Canopy Growth is a proudly Canadian company with a truly national presence, Coast to Coast to Coast.
Here’s to (a steady drumbeat of) Future Growth