Tweed Receives Approval for World Class Breeding Area
Updates on Smiths Falls Construction and Company Licensing
SMITHS FALLS, ON, Nov. 7, 2016 /CNW/ – Canopy Growth Corporation (TSX: CGC) (“Canopy” or the “Company”) is pleased to update that its wholly owned subsidiary Tweed Inc. (“Tweed”) has received approval to begin using its new breeding area at 1 Hershey Drive in Smiths Falls, Ontario.
Consisting of several breeding rooms, phenotyping rooms, and male and female plant rooms that are nestled far away from the flowering rooms, the breeding complex has been specially designed to isolate pollen and male plants from the remainder of the facility.
“This breeding area now allows Tweed to launch two projects core to its vision of offering Canadians the most variety and options in the sector,” said Mark Zekulin, President of Canopy Growth Corporation. “First, working with our world class partners, we can begin breeding new varieties uniquely available in the Canadian regulated market. Second, as part of our commitment to supporting a patient’s right to grow at home, we can now begin large-scale production of seeds for the legal Canadian market.”
This is the first such facility in the industry and will position Tweed as the only licensed producer capable of breeding new products to specific cannabinoid profiles.
In addition, Tweed has had a further three rooms approved as Schedule 3 rooms where cannabis can be present. These rooms will make overall product lifecycles more efficient.
The Company has previously projected 30 total indoor flowering rooms in the 168,000 sq. ft. licensed production area at Tweed’s Smiths Falls facility. Based on updated construction plans that will employ multi-level construction, the Company is now targeting 39 similarly sized growing rooms, 12 of which are approved and operational and another 12 of which are under construction targeting completion in the first half of calendar year 2017.
The demand for high-quality medical cannabis continues to grow at a rapid pace. Our facilities are growing at a similarly rapid rate to build on our leading position in the medical market, one that requires variety and scale.
Mark Zekulin, President, Canopy Growth Corporation
Across its three licensed production sites, Canopy subsidiaries are now licensed for 13,500 kg of dried cannabis production and 6,700 kg of cannabis oil production, representing over 7 million ml of finished cannabis oil.
Here’s to Future Growth.
About Canopy Growth Corporation
Canopy Growth is publicly traded on the TSX and a leading diversified producer of medical cannabis through its wholly owned subsidiaries Tweed, Bedrocan Canada, and Tweed Farms. The Company operates a collection of diverse brands and curated strain variety, supported by over half a million square feet of indoor and greenhouse production capacity.
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