Canopy Enters MOU with BC Liquor Distribution Branch to Supply British Columbian Market
ALDERGROVE & DELTA, BC, July 12, 2018 /CNW/ – Continuing the theme of securing major supply agreements in every Canadian province and territory with announced supply plans, Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) (the “Company” or “Canopy Growth”) is proud to announce that cannabis grown in its Delta and Aldergrove facilities, its other sites across the country, and products from its CraftGrow partners will be sold in fine retailers, both government-operated and private, across the province of British Columbia post-prohibition.
Canopy Growth entered into a supply MOU with the BC Liquor Distribution Branch to make available 5,719 kg of high-quality cannabis products in the first 12-months following October 17, 2018. The quantity referenced is a delivery requirement agreed to in the MOU, not an internal allocation.
Investing in a reliable, national production footprint early has made all the difference as provincial partners assess potential supply sources. We’ve established a strong presence in BC with state-of-the-art greenhouse facilities in Delta and Aldergrove and we can’t wait to see the BC bud we’re currently growing and harvesting at both sites readily available on store shelves.
Mark Zekulin, President & Co-CEO of Canopy Growth Corp.
The Company’s supply commitments to seven provinces and one territory including New Brunswick, Newfoundland & Labrador, Prince Edward Island, Quebec, Yukon, Manitoba, Alberta, and now B.C., combine for a total of over 67,000 kilograms of premium cannabis products from whole-flower to oils and Softgels on an annualized basis.
Canopy Growth’s national production platform includes facilities in seven provinces across Canada including its two BC Tweed greenhouses which combine 3 million sq. ft. of growing space. With over 2.4 million sq. ft. of facilities actively licensed and operating across the country, and the remainder of several sites ready and awaiting licensing, development continues to ensure full licensing is achieved in the near future to ensure sufficient supply across the country.
Here’s to Future (West Coast) Growth.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. 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 established partnerships with leading sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates ten cannabis production sites with over 2.4 million square feet of production capacity, including over 500,000 square feet of GMP-certified production space. Canopy Growth has operations in eight countries across five continents. The Company is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through partly owned subsidiary Canopy Rivers Corporation, Canopy Growth is providing resources and investment to new market entrants and building a portfolio of stable investments in the sector. From our historic public listing to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. For more information visit www.canopygrowth.com
