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.”