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Canopy Growth Signs Significant Supply and Sales Agreement with Sunniva Medical Inc
Source: PR Newswire (Canada)
SMITHS FALLS, ON, Feb. 21, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX:WEED) is pleased to announce the signing of a definitive supply agreement with Sunniva Inc. ("Sunniva") (CSE:SNN) (OTCQX:SNNVF). Through the terms of this two-year agreement, Canopy Growth will purchase up to 90,000 kilograms of dried cannabis from Sunniva's wholly-owned Canadian subsidiary, Sunniva Medical Inc., a late-stage Access to Cannabis for Medical Purposes Regulations ("ACMPR") applicant, and sister company of Natural Health Services, the sector's largest non-Licensed Producer medical patient network with tens of thousands of active registrations in the ACMPR.
The agreement will see Sunniva grow Canopy's existing line-up of award winning genetics as well as its own branded products, both for sale through Canopy Growth's extensive distribution network, including Tweedmainstreet.com, the planned Tweed retail store network across the country, and through provinces in which Canopy has already established historic supply agreements. The deal secures a diverse supply of curated cannabis products for Canopy Growth and a reliable sales channel and stream of revenue for Sunniva, with appropriate risk sharing formulas in place for both parties.
"We welcome Sunniva to the Canopy Growth family and look forward to collaborating with their team to provide a steady and high-quality source of cannabis products for consumers," said Mark Zekulin, President, Canopy Growth. "Through provincial distribution channels, brick and mortar locations, and our online Tweed Main Street e-commerce platform we are diversifying our ability to deliver a one-stop shopping experience to consumers and provincial bodies alike. With partners like Sunniva, we are well positioned to capture market share through robust supply channels."
Sunniva is developing a 700,000 sq. ft. GMP-certified greenhouse facility in British Columbia which will act as the primary production facility to meet their supply goals. The facility will produce cannabis products to supply the current medical market and the upcoming legalized recreational market in Canada.
"This agreement with Canopy Growth represents a significant milestone for us," said Leith Pedersen, President, Sunniva Inc. "Providing a supply of high-quality cannabis products through Canopy Growth's unparalleled retail and distribution channels, allows us to accelerate the execution of our business plan and distribution strategy. We plan to focus on building a sustainable and profitable business as we develop the Sunniva brand and by entering into strategic partnerships with the global industry leader Canopy Growth, we are doing just that."
Here's to Future CraftGrowth.
About Sunniva Inc.
Sunniva, through its subsidiaries, is a vertically integrated medical cannabis company operating in the world's two largest cannabis markets – Canada and California – where we are committed to delivering safe, high-quality products and services at scale. Our business vision is to become the lowest cost, highest quality cannabis producer in the markets we serve. We will accomplish this by building large scale purpose-built cGMP greenhouses, offering better quality assurance with cannabis products free from pesticides, providing better patient and doctor access to cannabis education, and sourcing better therapeutic delivery devices.
About Sunniva Medical Inc.
SMI is a late stage ACMPR applicant in final review and is building the Sunniva Canada Campus, 700,000 square feet of purpose-built cGMP complaint greenhouse facilities to be located in British Columbia. The total Campus is expected to produce over 100,000 kg of premium medical cannabis a year and over 25,000 kg of trim used for extraction. The facility will produce pesticide free products and will convert trim to extracted products such as cannabis oil. The oil will be used for drug delivery formats such as capsules, dissolvable strips, vaporization cartridges, tinctures and creams. Sunniva anticipates to break ground in early 2018.
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 seven cannabis production sites with over 1 million square feet of production capacity, including over 500,000 square feet of GMP-certified production space. The Company has operations in seven countries across four 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 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
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not always, forward-looking statements 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 involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth Corporation, its subsidiaries, or its affiliates to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include future operational and production capacity, the impact of enhanced infrastructure and production capabilities, and forecasted available product selection. The forward-looking statements included in this news release are made as of the date of this news release and Canopy Growth Corporation does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation
Copyright 2018 Canada NewsWire
Thanks for the insight. Bought a couple million quite a few months ago...
We finish green based on higher than expected YER.
Extremely positive. Excellent shareholder call yesterday Goodbuddy!
We are green and future is so bright you have to wear sunglasses.
People pushing other motives to by in cheap here. Holding out and adding is a no brainer. Germany is kicking in sales in a major way and we should hear Ontario news soon. The positive press here as we approach July will be another catalyst.
Well said.
Amazing on all fronts! Well done Canopy Growth!
Bottom line is and I have always stood behind it is...come July will WEED be higher than it is now.
Market players are here to make money but I have believed for some time that weed is a major part of a NEW market.
I have weed stock long ago due to my belief and ended up selling due to short time needs. Bought back In with all my fury.
Up nice....this is just the beginning.
Amazon in the old days for you that are just looking here. Wow, look at that price now...
Good investing
Confirms both the method of delivery and July timing to launch rec marijuana in Ontario.
Great news!
This hit the press right around when the recover today started.
U.S. tobacco supplier acquires majority stakes in PEI, Ontario pot companies
https://www.bnn.ca/1.993764.1518199542
Have had a couple million shares I have been holding for a while. Exciting action going on!!
Interesting
Canada's largest medical-cannabis company, which will be able to supply the recreational market after the product is fully legalized, said it will be able to adapt to the government's timeline.
"In my mind, I've been thinking August 1. So if it's July 10 or 18, I really don't care," said Bruce Linton, the chief executive officer at Canopy Growth Corp. "It's going to be better if it's in the summer because people are on vacation. But, other than that, every minute that we have longer just allows us to have more assets available and to negotiate better deals."
Provinces where cannabis will be sold through government-run stores have started signing early contracts with growers to supply product to their shops. Mr. Linton said this is helping his company plan for the future by allowing Canopy to "start doing our work with a lot less guessing."
Canada Stats Show These Top 3 Market-Share Marijuana Stocks to Gain in 2018
https://www.profitconfidential.com/marijuana/marijuana-stocks/canada-stats-show-top-3-market-share-marijuana-stocks-gain/
Aurora, Canopy Stock Get a Required Boost with Sweden’s Marijuana Interest
By Stephen Karmazyn Published : February 7, 2018
4
marijuana stocks
iStock.com/OlyaSolodenko
Canada Marijuana Stocks Find a Home in Sweden
Two of the top 10 most-traded shares in Sweden in January 2018 were Canada marijuana stocks, adding further proof that the marijuana market is growing more global with each passing day.
“Out of nowhere, the interest for Canadian cannabis shares has completely exploded in Sweden,” said Joakim Bornold from Nordnet AB, an online broker bank. “That’s where the money is, if there’s a will to continue legalizing markets.” (“Canadian cannabis stocks are latest fad for Swedish investors,” Toronto Star, February 5, 2018.)
Canopy Growth Corp (OTCMKTS:TWMJF, TSE:WEED) and Aurora Cannabis Inc (OTCMKTS:ACBFF, TSE:ACB) were both among the most-traded shares on Nordnet in January.
But Sweden’s “reefer madness” is by no means unique to the Scandinavian country; across the world, we’re seeing a flurry of interest in the red-hot marijuana market. Both the Canopy stock price and the Aurora stock price shot up to all-time highs in January, alongside the rest of the market.
While mid-January saw the two companies’ share prices plummet, that hardly lasted long. Both companies are now well on their way to reaching and surpassing their January highs.
TWMJF stock jumped by about 2.5%, while ACBFF stock climbed one percent by early afternoon on Wednesday. The market more broadly has been in the midst of a rally ever since the start of the week, with the January slump apparently over and more gains to come.
The Sweden marijuana investment news is important, however, not because Swedish investors are getting in on the game (after all, Sweden is a relatively small country and market), but because what it represents for the marijuana industry overall.
As more countries seek to legalize cannabis—or at the very least reduce the severity of their drug laws—marijuana as a product will continue to find homes in nations around the world. And with those countries opening up to weed, we’re going to see sales naturally jump and take marijuana stock prices with it.
When you invest in marijuana stocks—specifically Canada marijuana stocks— you’re not only getting solid companies that are about to have their product federally legalized for the first time in the western world, you’re getting companies that have the potential to dominate the industry internationally for years to come.
While other countries and their marijuana startups will have to contend with the slow process of legalization for years (maybe decades), Canada marijuana stocks will have already-established foundations, expertise, and trusted names in the industry. That means they’ll likely be involved in the mix when other countries look to legalize cannabis, and this gives them a dominant market position for the foreseeable future.
Analyst Take:
That Canada marijuana stocks are big in Sweden is not the most important bit of news here. It’s that Canadian companies like Canopy and Aurora continue to maintain a global vision that is going to serve them well in the years to come. For that reason, I believe that both of these stocks are going to be solid earners in both the near and long terms.
“We are confident that we are on track” to develop a legalized market, Justice Minister Jody Wilson-Raybould said. “I am confident that we will be in a place for the legalization of cannabis, July of 2018, and that a responsible process for implementation of the act will continue thereafter.”
Added
Wowzers
Add as well.
GREEN
BUZZZZZZZZz
Don’t think the police will allow themselves to be the goat on this.
Each province is different as well
Opportunity knocks
Police won’t stop mail service
July 1 is not a true date. The statement is JULY as a whole. It is coming...if fall, so be it.
Strongly communicated that being late is not going to happen. Nothing has changed there.
Do u have a link to this. I am in Canada and everything is happening as planned
Oh, so it hasn’t happened yet. Lol
I thought u stated it has crashed.
That’s your opinion. You should state that.
U trying to scare people. Lol. Drastic...NOT.
Not sure but I watch intently!
Yes. Nice close.