Full Press Release Details
Canopy Growth subsidiary and Canopy Rivers
portfolio company Vert Mirabel now fully licensed by Health Canada
Final 190,000 sq. ft. Greenhouse Licensed.
Total of 700,000 sq. ft. of Production and Processing Infrastructure Now Fully Licensed
MIRABEL, QC, May 28, 2019 /CNW/ - Les
Serres Vert Cannabis Inc. ("Vert Mirabel"), a subsidiary of Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) ("Canopy
Growth") and a portfolio company of Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF) ("Canopy Rivers") has received its
final cultivation licence from Health Canada. All 700,000 sq. ft. of operating space at Vert Mirabel is now licensed for cannabis
production. Vert Mirabel was established in December 2017 between Canopy Growth, Canopy Rivers, and Les Serres St phane
Bertrand ("Bertrand").
"We are thrilled that the operational
infrastructure at Vert Mirabel is now fully online with over 500,000 sq. ft. already in production," said Olivier Dufourmantelle,
Chief Operating Officer, Canopy Rivers. "Vert Mirabel is a key asset for Canopy Rivers as it provides exposure to a commercially
scaled source of locally grown, premium quality cannabis for distribution into Qu bec and across the country."
The licence for Vert Mirabel increases the
facility's growing space by 190,000 sq. ft. It brings Canopy Growth's total Canadian licensed production footprint to approximately
4.6 million sq. ft, another step towards its nearly 5.6 million sq. ft. national platform. The Vert Mirabel facility leverages
Bertrand's multi-generational greenhouse operational expertise to produce high-quality cannabis.
"The final licence for Vert Mirabel strengthens
our operations and will allow us to increase supply to meet the recreational market demand," said Mark Zekulin, President
and co-CEO, Canopy Growth. "From everyone at Canopy Growth, we congratulate the Bertrand family and their team for achieving
a fully licensed, large-scale cannabis operation in under 18 months."
Bertrand is a large-scale greenhouse operator
and, prior to converting to cannabis, it was the largest producer of pink tomatoes in Canada. "We are proud to announce that
our venture with Canopy Growth and Canopy Rivers has reached this milestone," said St phane Bertrand. "Obtaining
this licence will allow us to pursue our production goals in order to expand our footprint to meet the needs of the Qu bec
Here's to Future Growth (in Qu bec).
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 the Company'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.
The Company has operations in over a dozen countries across five continents.
The Company'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.
The Company 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 4.6 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 statements which constitute "forward-looking information" within the meaning of applicable
securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect
to future business activities and operating performance. Forward-looking information is often identified by the words "may",
"would", "could", "should", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" or similar expressions and includes information regarding the pedigree
quality of infrastructure; Vert Mirabel being a provider of choice for Qu bec; and expectations for other economic, business,
and/or competitive factors.
Investors are cautioned that forward-looking
information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning
future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements
are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such
information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable
factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors
that could cause actual results to differ materially from those projected in the forward-looking information are the following:
regulatory and licensing risks; the ability of Vert Mirabel to obtain a licence to sell cannabis under applicable legislation in
Canada; the ability to secure distribution and sales channels; changes in general economic, business and political conditions,
including changes in the financial markets; potential conflicts of interest; the Canadian regulatory landscape and enforcement
related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance
with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the
Circular, filed with Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others
that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation,
to update this forward-looking information except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE Canopy Growth Corporation
View original content: http://www.newswire.ca/en/releases/archive/May2019/28/c0529.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.
122; Canopy Rivers Inc., Karoline Hunter,. Sr. Director, Investor Relations & Communications, ir@canopyrivers.com; Daniel Pearlstein,
Executive Vice President, Strategy, daniel@canopyrivers.com
CO: Canopy Growth Corporation
CNW 07:00e 28-MAY-19