Canopy Growth Completes Divestiture of Canadian Retail Operations

Transaction supports the Company's focus on achieving profitability through streamlined operations in Canada

Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC) announced today that it has closed its previously announced transactions with OEG Retail Cannabis ("OEGRC") and 420 Investments Ltd. ("FOUR20") to divest its retail business across Canada which includes the stores operating under the Tweed and Tokyo Smoke retail banners.

Canopy Growth Completes Divestiture of Canadian Retail Operations (CNW Group/Canopy Growth Corporation)

"The divestiture of our Canadian retail business marks an important step forward on our path to profitability and furthers Canopy Growth's focus on generating revenue growth in the Canadian market," said David Klein , CEO, Canopy Growth. "These retail locations will continue operating under the experienced leadership of OERGC and FOUR20 under their respective retail brands to serve Canadian consumers with high-quality in-store experiences."

Overview of the OEGRC Transaction:
  • OEGRC has acquired ownership of 23 Tokyo Smoke and Tweed store locations across Manitoba , Saskatchewan , and Newfoundland and Labrador .
  • As part of the OEGRC Transaction, the Tokyo Smoke brand has been transferred to OEGRC and all purchased stores currently branded as Tweed will be rebranded.
  • The master franchise agreement between the Company and OEGRC pursuant to which OEGRC licenses the Tokyo Smoke brand in Ontario has been terminated effective on closing of the OEGRC Transaction.
Overview of the FOUR20 Transaction:
  • FOUR20, a licensed cannabis retailer, acquired five of the Company's corporate stores in Alberta .

As previously announced, Canopy Growth will continue to own and operate the iconic Tweed brand and will remain focused on bringing a portfolio of mainstream flower, pre-rolled, infused gummies, and beverage options to consumers in Canada .

About Canopy Growth

Canopy Growth is a leading North American cannabis and consumer packaged goods ("CPG") company dedicated to unleashing the power of cannabis to improve lives.

Through an unwavering commitment to our consumers, Canopy Growth delivers innovative products with a focus on premium and mainstream cannabis brands including Doja, 7ACRES, Tweed, and Deep Space. Our CPG portfolio features sugar-free sports hydration brand BioSteel, targeted 24-hour skincare and wellness solutions from This Works, gourmet wellness products by Martha Stewart CBD, and category defining vaporizer technology made in Germany by Storz & Bickel.

Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through its rights to acquire Acreage Holdings, a vertically integrated multi-state cannabis operator with principal operations in densely populated states across the Northeast, as well as Wana Brands , a leading cannabis edible brand in North America , and Jetty Extracts, a California -based producer of high-quality cannabis extracts and pioneer of clean vape technology.

Beyond our world-class products, Canopy Growth is leading the industry forward through a commitment to social equity, responsible use, and community reinvestment—pioneering a future where cannabis is understood and welcomed for its potential to help achieve greater well-being and life enhancement.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements and uncertainties include statements with respect to the continued operations and anticipated benefits of the Canadian retail locations; the Company's anticipated plans with respect to its portfolio of mainstream flower, pre-rolled, and ready-to-enjoy options   ; and expectations for other economic, business, and/or competitive factors   .

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including expectations regarding future investment, growth and expansion of operations; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets and the impacts of increased rates of inflation; legal and regulatory risks inherent in the cannabis industry, including the global regulatory landscape and enforcement related to cannabis, political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis industry; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com and with the United States Securities and Exchange Commission through EDGAR at www.sec.gov/edgar , including the Company's annual report on Form 10-K for the year ended March 31, 2022 .

In respect of the forward-looking statements and information, the Company has provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Should one or more of the foregoing risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

SOURCE Canopy Growth Corporation

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/January2023/03/c7848.html

News Provided by Canada Newswire via QuoteMedia

WEED:CA,CGC
The Conversation (0)
Resource Investing

Big News Roundup Resource Investing

Feb 28 Big News: QMX Intersects 38.7 g/t Gold Over 3.5 Metres and 34.9 g/t Gold Over 3.0 Metres, Renforth Drills 1.25 g/t Au over 7.5m at a Vertical Depth of 330m, IsoEnergy Intersects 8.5m of 33.9 Percent U3O8, Including 5.0m of 57.1 Percent U3O8 at the Hurricane Zone

News of the coronavirus continuing to spread in several jurisdictions around the world has caused stock markets to tumble this week, including the Dow Jones, which had its worst week since the financial crisis in 2008. The TSX Composite dropped 2.8 percent to open Friday at 16,258.29 while the TSV Venture Exchange lost 19.37 points to open Friday’s session down 3.7 percent at 501.22. Despite the market reaction, experts remain adamant that the general public need not worry about the virus. “I don’t think we’re at the level yet where the average person needs to be panicking about this,” Dr. Brian Garibaldi, medical director of Johns Hopkins Hospital’s biocontainment unit, told Yahoo Finance’s The Final Round. “But I think it’s important to remember that we’re still in the middle of this flu season. And those basic efforts can do a lot to prevent the spread of this virus.”

Keep reading...Show less

Cronos Group Inc. to Hold 2024 Third Quarter Earnings Conference Call on November 12, 2024

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") will hold its 2024 third quarter earnings conference call on Tuesday, November 12, 2024 at 8:30 a.m. ET. Cronos' senior management team will discuss the Company's financial results and will be available for questions from the investment community after prepared remarks.

To attend the conference call or webcast, participants should register online at https://ir.thecronosgroup.com/events-presentations . To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast of the call will be archived for replay on the Company's website.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Trulieve to Open Medical Cannabis Dispensary in Lake Placid, Florida

New Highlands County location will host grand opening celebration Friday, November 1 st

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced the opening of a new medical cannabis dispensary in Lake Placid, Florida .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Trulieve to Open Florida Medical Cannabis Dispensaries in Bonita Springs and St. Augustine

Grand opening celebrations scheduled for Friday, October 18 th

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced the opening of new Florida medical cannabis dispensaries in Bonita Springs and St. Augustine .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Trulieve Cannabis Corp. to Hold Third Quarter 2024 Results Conference Call on November 5, 2024

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., will hold a conference call on Tuesday, November 5, 2024 at 8:30 AM Eastern Time following the release of its third quarter 2024 financial results.

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)

Chairman, Founder, and Chief Executive Officer Kim Rivers and Chief Financial Officer Wes Getman will participate on the call to review Trulieve's financial and operating results.

Interested parties can join the conference call by dialing in as directed below. Please dial in 15 minutes prior to the call and ask to join the Trulieve Cannabis Corp. call.

North American toll free: 1-844-824-3830


Passcode:


3735709


International: 1-412-542-4136


Passcode:


3735709


A live audio webcast of the conference call will be available at:
Trulieve Third Quarter 2024 Results Call

An archived replay of the webcast will be available at:
https://investors.trulieve.com/events

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com .

Facebook: @Trulieve
Instagram: @Trulieve_
X: @Trulieve

Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-cannabis-corp-to-hold-third-quarter-2024-results-conference-call-on-november-5-2024-302274503.html

SOURCE Trulieve Cannabis Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2024/14/c7404.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Cannabis leaf over map of Australia.

A State-by-State Guide to Cannabis in Australia (Updated 2024)

Australia federally legalised medicinal cannabis in 2016, and Australia's cannabis market has seen major growth since then.

Medical cannabis approvals were up by 120 percent in the first half of 2023 compared to the same period in 2022. Statista forecasts that Australian cannabis revenue will reach AU$3.73 billion in 2024 and grow at an annual rate of 3.22 percent, culminating in market volume worth AU$4.53 billion by 2029.

However, Australia’s cannabis industry is still young. Despite there being a strong case for a regulated market, which was outlined in a July 2024 report by the Penington Institute, recreational use is not legal and medical access remains limited and regulated. Yet, public support for legalisation is growing. YouGov data released in January 2024 showed that over half of Australians polled are in favour of decriminalising cannabis, and half of the respondents between the ages of 18 and 49 support legalising personal use.

In 2023, the Australian Greens, the country’s only seat-holding federal party in favour of legalisation, introduced the Legalising Cannabis Bill 2023, sponsored by the party’s leader Senator David Shoebridge. This was Australia’s first parliamentary effort to legalise cannabis.

Keep reading...Show less

Spinach® Is the Number One Cannabis Brand in Canada

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos"), an innovative global cannabinoid company, is proud to announce that its award-winning brand Spinach® has risen to the best-selling cannabis brand in the Canadian market. 1 Spinach's market share outperformance represents Cronos' relentless commitment to quality, innovation, and bringing differentiated products to the competitive Canadian adult-use market.

Since launching in November 2018, Spinach has quickly become the preferred choice among new and seasoned adult consumers alike. The success of Spinach is bolstered by its best-selling and breakthrough portfolio of products, including ranking first in both edibles and flower. 1

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×