Canopy Growth Gets Canadian License Amendment

- August 22nd, 2018

Canopy Growth announced it obtained license amendments from Health Canada to allow the size of its growing capacity.

Canopy Growth (TSX:WEED, NYSE:CGC) announced it obtained license amendments from Health Canada to allow the size of its growing capacity.

As quoted in the press release:

The amended licences include a nearly doubling of growing capacity at its Smiths Falls Campus at 1 Hershey Drive, an additional 223,200 [square feet] of cultivation space at its majority-owned Les Serres Vert Cannabis Inc. (“Vert Mirabel”) greenhouse in Mirabel, Quebec, and a licence for a highly automated, state-of-the-art Distribution Centre located at its Smiths Falls campus.

The Distribution Centre will serve as Canopy Growth’s hub for business to business (“B2B”) and business to consumer (“B2C”) distribution across Canada. The facility will play a central role in the Company’s strategy for meeting the strong demand for medical cannabis as well as the anticipated demand from the soon to be legalized adult use recreational cannabis market.

“We’ve been focused on building an industry leading growing, value-add and distribution platform across Canada and today we took steps to make it considerably larger and more sophisticated. The new highly automated Distribution Centre is critical to operating in an efficient and cost-effective manner, while meeting the needs of our provincial partners” said Mark Zekulin, President and Co-CEO, Canopy Growth.

Click here to read the full press release.

Source: www.newswire.ca

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