Canopy Growth Revises Beverage Launch Timeline

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42

SMITHS
FALLS,
ON,
Jan.
17,
2020
/PRNewswire/


Canopy
Growth
Corporation

(“Canopy
Growth”
or
the
“Company”)
(TSX:
WEED),
(NYSE:
CGC)
submitted
its
final
documentation
for
its
beverage
facility
to
Health
Canada
in
late
June
2019
and
subsequently
received
the
licence
in
late
November
2019.
In
the
seven
weeks
since
receiving
the
licence,
the
Company
has
made
meaningful
progress
towards
scaling
the
production
process
for
its
cannabis
beverages
from
lab
scale
to
commercial
scale.

Management
remains
very
confident
in
the
underlying
beverage
science
and
in
its
ability
to
scale
production
and
deliver
high
quality,
differentiated
cannabis
beverages
to
the
market.
However,
the
scaling
process
is
not
complete,
and
the
Company
is
extending
its
to-market
date
while
the
internal
teams
complete
the
final
steps.

Canopy
has
had
seven
weeks
to
work
with
THC
in
the
brand
new
beverage
facility
to
scale
processes
and
IP
it
has
developed
in
the
R&D
environment.

David
Klein,
CEO,
Canopy
Growth

In
order
to
deliver
products
that
meet
our
customer’s
high
standards
we
are
electing
to
revise
the
launch
date
while
we
work
through
the
final
details.

Cannabis
beverages
have
disruptive
power
and
in
time,
may
introduce
new
consumers
to
the
cannabis
category.
Canopy
does
not
believe
this
delay
will
have
a
material
impact
on
its
FY20
revenue.

The
Company
intends
to
provide
an
update
with
the
release
of
its
Q3
FY20
financial
results.

Here’s
to
Future
(Cannabis
Category)
Growth.


About
Canopy
Growth
Corporation

Canopy
Growth
(TSX:WEED,NYSE:CGC)
is
a
world-leading
diversified
cannabis,
hemp
and
cannabis
device
company,
offering
distinct
brands
and
curated
cannabis
varieties
in
dried,
oil
and
Softgel
capsule
forms,
as
well
as
medical
devices
through
Canopy
Growth’s
subsidiary,
Storz
&
Bickel
GMbH
&
Co.
KG.
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.
Canopy
Growth
has
operations
in
over
a
dozen
countries
across
five
continents.

Canopy
Growth’s
medical
division,
Spectrum
Therapeutics
is
proudly
dedicated
to
educating
healthcare
practitioners,
conducting
robust
clinical
research,
and
furthering
the
public’s
understanding
of
cannabis,
and
has
devoted
millions
of
dollars
toward
cutting
edge,
commercializable
research
and
IP
development.
Spectrum
Therapeutics
sells
a
range
of
full-spectrum
products
using
its
colour-coded
classification
Spectrum
system
as
well
as
single
cannabinoid
Dronabinol
under
the
brand
Bionorica
Ethics.

Canopy
Growth
operates
retail
stores
across
Canada
under
its
award-winning
Tweed
and
Tokyo
Smoke
banners.
Tweed
is
a
globally
recognized
cannabis
brand
which
has
built
a
large
and
loyal
following
by
focusing
on
quality
products
and
meaningful
customer
relationships.

From
our
historic
public
listing
on
the
Toronto
Stock
Exchange
and
New
York
Stock
Exchange
to
our
continued
international
expansion,
pride
in
advancing
shareholder
value
through
leadership
is
engrained
in
all
we
do
at
Canopy
Growth.
Canopy
Growth
has
established
partnerships
with
leading
sector
names
including
cannabis
icons
Snoop
Dogg
and
Seth
Rogen,
breeding
legends
DNA
Genetics
and
Green
House
Seeds,
and
Fortune
500
alcohol
leader
Constellation
Brands,
to
name
but
a
few.
Canopy
Growth
operates
eleven
licensed
cannabis
production
sites
with
over
10.5
million
square
feet
of
production
capacity,
including
over
one
million
square
feet
of
GMP
certified
production
space.
For
more
information
visit

www.canopygrowth.com


Original
Press
Release

For
fact-based
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on
Canopy
Growth
Corp,
view
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company’s
sponsored

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