Five new Tokyo Smoke licensee retail locations advance in Ontario public process

Tokyo Smoke
Posted on: November 28, 2019

Tokyo Smoke, Canopy Growth Corporation’s (“Canopy Growth” or the “Company”) (TSX:WEED, NYSE:CGC) award-winning retail subsidiary is proud to announce that after working closely with recently-announced Ontario retail licence winners, it has entered into agreements with five retailers who have progressed to key, public stages in the licensing process.

In particular, three locations have been posted to the AGCO website and the two others have received official confirmation and will post the required on-site notice today prior to locations being posted online. Locations include:

390 Lakeshore Dr. Unit D, North Bay, ON
75 Pinebush Road, Cambridge, ON
570 Bloor St. West, Toronto, ON
1303 Queen St. East, Toronto, ON
1082 Memorial Avenue, Thunder Bay, ON

“As a company we are pleased to see this progress in the Ontario retail market,” said Mark Zekulin, CEO, Canopy Growth. “Increasing our presence in Toronto and for the first time north of the GTA is an important step to building the Tokyo Smoke brand with an emphasis on consumer education and cannabis destigmatization.”

These locations are owned and operated by independent business owners with the support of Canopy Growth’s existing retail team to ensure a consistent high level of customer experience and product curation. Once all five retail stores are open, total Canopy retail banners across Canada will reach 32 with more planned throughout calendar year 2020.

Management believes that increased retail stores in Ontario is essential to the overall success of the cannabis sector, and to migrating cannabis sales from the illicit to regulated market. The Company applauds the recent progress in bringing new stores closer to market and encourages an open licence process to complement the existing licences granted and in process.

Here’s to Future (Ontario Retail) Growth.

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