Canopy Growth Now Has All “Cannabis 2.0” Related Licences Required for Vapes, Beverages, and Chocolates Now in Hand
Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX:WEED, NYSE:CGC) is pleased to announce that on November 22, 2019, it received its operating and secure storage licence from Health Canada for its 150,000 sq. ft. beverage facility located at company headquarters in Smiths Falls, ON.
The new facility is operational and will begin producing cannabis-infused beverages today. The beverage facility adds to the complement of cannabis production facilities in Smiths Falls including a regional distribution centre with automated excise stamp lines, an automated manufacturing facility, a state-of-the-art bean-to-bar chocolate factory, and a first-of-its-kind Visitors Centre.
“This licence represents years of hard work to bring our vision to life. We are deeply proud of the team’s hard work and dedication that has brought us from the tear-down of the original building in early 2019, through to the completion and licensing of our brand-new facility,” said Mark Zekulin, CEO of Canopy Growth. “We also appreciate the support of our partner, Constellation Brands, who lent their expertise from building and equipment design to staffing requirements for this world-class facility. Cannabis beverages have the potential to introduce a whole different demographic to the cannabis category by presenting them with a familiar product format.”
Eleven beverages, all based on the company’s unique Distilled CannabisTM process will be produced in the Smiths Falls facility during the first wave of production, with more added throughout the year. This licence positions the Company to begin shipping beverage inventory to the provinces within weeks. Timing of specific product availability will vary by province.
Canopy Growth’s industry-leading platform across Canada now includes over 10.5 million sq. ft. of existing, fully licensed production capacity, along with award-winning brands, a network of licenced retail stores, and a proven track record as a globally leading cannabis company. With this critical operating licence, Canopy Growth is fully prepared to supply the Canadian market with a variety of innovative new “Cannabis 2.0” products including beverages, chocolates, and vapes.
Here’s to Future Growth.