Canopy Growth Secures Outdoor Cannabis Growing License

Canopy Growth Corporation (NYSE:CGC,TSX:WEED) obtained an outdoor growing cultivation license of cannabis in Saskatchewan.

As quoted in the press release:

The new licence expands Canopy Growth’s diversified Canadian footprint and complements its existing indoor and greenhouse facilities to provide a leading balance of facilities to produce low cost input materials for value-add products, while ensuring more sophisticated growing operations for in-demand flower products.

“Our team has outdoor, at-scale cannabis expertise gained from over a decade of hemp farming experience, including Canopy’s 4,000-acre hemp operation executed last year, the extract of which is bolstering our (cannabidiol) CBD supply for the medical and recreational markets,” said Mark Zekulin, President and co-CEO, Canopy Growth. “At this stage in the summer planting season we view this as a pilot and ramp up project for outdoor cannabis cultivation, though the team will do everything it can to deliver low cost yields this year.”

Click here to read the full press release.