SMITHS FALLS, ON, Oct. 9, 2018 /CNW/ - Marking a major
milestone in cannabis history, Canopy Growth Corporation (TSX:
WEED) (NYSE: CGC) ("Canopy Growth" or the "Company") has completed
a legal transfer of cannabis products to a research partner in
the United States. To the
Company's knowledge, this transfer is the first export of legal
cannabis products from Canada to
the United States pursuant to an
import permit issued by the federal United States Drug Enforcement
Administration (DEA). The shipment was completed for the
sole purpose of supporting medical research and
development.
Currently, sources of federally regulated cannabis in
the United States are limited in
scope and genetic diversity. Canopy Growth believes that it
can add value to the market and enable the development of rigorous
testing standards for products, while advancing the understanding
of the risks and benefits of medical cannabis. The advancement of
this research stands to serve Americans, Canadians and those around
the world who may benefit from legal, approved cannabis based
medical treatments.
While this export is a major achievement for the Company, in
keeping with its philosophy around the globe, Canopy Growth
strongly supports legal production at the domestic level over
ongoing exports. With this in mind, the Company is excited at the
potential of bringing its commitment to legal, GMP/GPP produced
cannabis operations to the United
States but only through federally legal means.
"The United States presents a
unique market opportunity and as the most established cannabis
business in the world we, in turn, offer a unique ability to
advance standardization, IP development, and clinical research that
can improve the understanding and legal application of
cannabis and cannabinoids," said Mark
Zekulin, President and Co-CEO, Canopy Growth. "By engaging
in the market through federally legal means and with the right
partners, we can create a US-based centre of expertise while also
supporting our rapidly expanding global business."
Canopy Growth and its subsidiaries Canopy Health Innovations
(CHI) and Spectrum Cannabis have developed a strong research
program spanning human and animal health. Today's announcement
builds onto our continued commitment to IP development and
subsequent commercialization of cannabis-based medicines through
clinical research.
Here's to Future Growth (through research).
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.
The Company has operations in 12 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, the Company is providing resources and investment to
new market entrants and building a portfolio of stable investments
in the sector.
From our historic public listing on the Toronto Stock Exchange
and New York Stock Exchange to our continued international
expansion, pride in advancing shareholder value through leadership
is engrained in all we do at Canopy Growth. 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 licensed cannabis
production sites with over 4.3 million square feet of production
capacity, including over 500,000 square feet of GMP certified
production space. For more information visit
www.canopygrowth.com.
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 Canopy Growth 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 include statements with
respect to US market participation and/or the establishment of
US-based operations. 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 the opening of stores; planning of unveiling
events; product availability; and such risks contained in the
Company's Management Information Circular dated August 22, 2018 and annual information form dated
June 28, 2018 and filed with Canadian
securities regulators available on the Company's issuer profile on
SEDAR at www.sedar.com. 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. 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 an 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.
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SOURCE Canopy Growth Corporation