Full Press Release Details
Canopy Growth And Greenlane Announce Exclusive
Distribution Partnership For Storz & Bickel Vaporizers In The United States
BOCA RATON, FL & SMITHS FALLS, ON, Aug.
8, 2019 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) is
pleased to announce that it has partnered with one of the largest global sellers of premium cannabis accessories, Greenlane Holdings,
Inc, ("Greenlane") (Nasdaq: GNLN) that gives Greenlane exclusive distribution rights of Storz & Bickel vaporizers
throughout the United States.
Storz & Bickel, a subsidiary of Canopy
Growth based in Tuttlingen, Germany, has a 22-year history as the global leader in vaporizer design. The company has won accolades
for developing an automated and internationally certified factory, achieving ISO 13845 certification in 2009 and exporting to over
50 markets around the world. Storz & Bickel first introduced the world-renowned Volcano product line in 2000 and since
then has worked tirelessly to continue innovating and perfecting the industry's leading tabletop vaporizer, in addition to their
successful portable handhelds including the Crafty and Mighty devices.
Greenlane has been Storz & Bickel's exclusive
U.S. distribution partner since January 2018 and the new agreement signed with Canopy Growth will allow for robust growth in the
American market along with continued distribution to the Canadian market. Greenlane boasts an extensive distribution network within
North America which includes over 11,000 retail locations spanning smoke and vape shops and licensed cannabis dispensaries. Through
their distribution channels, Greenlane will bring Storz & Bickel's newest desktop vaporizer technology-the Volcano Hybrid-to
market. The Hybrid model offers improved airflow management, faster heat-up times, easy to use touch display, a rotatable tube
system for an alternate inhalation method and increased safety and functionality through Bluetooth app control.
"We have worked with Storz & Bickel
since Greenlane's inception in 2005 to launch dozens of its products, introducing the legendary Volcano vaporizer to the U.S. market
and establishing it as the gold standard of desktop vaporizers," said Aaron LoCascio, Chairman and Chief Executive Officer
of Greenlane. "The extension of our relationship through this exclusive agreement with Canopy Growth will allow us to introduce
even more North Americans to this premiere brand and pristine line of vaporizer products."
"Establishing and extending this exclusive
partnership with Greenlane has played an important role in cementing Storz & Bickel's brand reputation for quality, safety
and performance in the United States." commented Peter Popplewell, PhD., Canopy Growth Chief Technology Officer. "We
have seen tremendous success with their smaller handheld devices, including the Mighty, and we are excited to introduce Storz &
Bickel's latest update on the Volcano as consumers continue to be drawn towards top-quality vaporizer technology."
Here's to Future (Vaporized) Growth.
About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct
brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's
subsidiary, Storz & Bickel GMbH & Co. KG. 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 operations in over a dozen countries across five continents.
Canopy Growth's medical division, Spectrum
Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the
public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development.
Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as
single cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across
Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large
and loyal following by focusing on quality products and meaningful customer relationships.
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 icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation
Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 4.7 million square feet of
production capacity, including over one million 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 strategic retail partnerships. 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 Company's ability to satisfy
provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company's annual
information form dated June 25, 2019 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.
SOURCE Canopy Growth Corporation
View original content: http://www.newswire.ca/en/releases/archive/August2019/08/c8493.html
For further information: Caitlin O'Hara, Media Relations,
Caitlin.Ohara@canopygrowth.com, 613-291-3239; Investor Relations, Tyler Burns, Tyler.Burns@canopygrowth.com, 855-558-9333 ext.
CO: Canopy Growth Corporation
CNW 08:00e 08-AUG-19