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Holding strongly. Bull still kicking!!!
SWEEEEET
Yup. I’m coming out of a similar scenario as well....
WEED has been a saviour and belief which killed me on another play has rewarded me here.
Congrats
A day for the ages. Congrats everyone!
WEED
Well done
Marijuana ETF giving U.S. investors easy access to Canada's pot market
https://www.bnn.ca/1.1130530.1535575753
Marijuana should be added to NAFTA, Mexico’s Fox says
https://www.bnn.ca/1.1131075.1535655405
Yup.
https://m.huffingtonpost.ca/
Health Canada Softens Marijuana Message Ahead Of Legalization
Maija Kappler
Ahead of next month's legalization, Health Canada is revamping its previously prohibitive messaging about marijuana.
Josh Edelson / The Associated Press
Ahead of next month's legalization, Health Canada is revamping its previously prohibitive messaging about marijuana.
OTTAWA — In the past, public health campaigns warning of the harmful effects of drugs delivered one resounding message: Don't do it.
But now that the federal government has decided to legalize marijuana, Health Canada has undertaken new strategies to try and land on teens' screens and in the places they hang out.
"Inevitably, that communication and education is going to be more nuanced and subtle," said David Hammond, a professor in the school of public health at the University of Waterloo.
Hammond said the federal government has adopted a harm reduction approach to its education around cannabis. That means instead of warning the public not to consume it, the messages point out that there are circumstances where it should be avoided.
Lars Hagberg / The Canadian Press
A man rolling a joint in Kingston, Ont.
Health Canada says it has rolled out a number of public education campaigns and has invested some coin in the effort. A social media campaign has been underway since last spring, and Public Safety began running a campaign on drug-impaired driving last fall.
There's also a cannabis health facts advertising campaign underway, launched last March, which aims to deliver "honest facts" to teens. This campaign features questions from the public and answers by cannabis experts, and can be found on the government's cannabis website. As recently as July, Health Canada launched an interactive engagement tour which targets youth and young adults and takes place at events like fairs, music festivals and sporting events.
The department said the planned investment in cannabis public education, awareness and surveillance is more than $100 million over six years. This includes $62.5 million over five years, proposed in last year's federal budget, to support community organizations and Indigenous groups that are educating their communities on the risks associated with cannabis use.
Lars Hagberg / The Canadian Press
Marijuana buds pictured in Kingston, Ont.
Hammond said it's too early to determine the effectiveness of these campaigns, but said it's clear Health Canada is "trying". He suggested the old tried-and-true black-and-white pamphlet will not be carried in the backpacks of teens.
"You're going to see that some of these campaigns are going to fall on their face and some of them will do quite well, but they'll all contribute to the discussion and that's a good thing."
The biggest challenge the government faces, he said, is connecting with teens. Teachers will have to figure out what to tell their students, doctors will determine what to tell their patients and parents will grapple with what to tell their children.
"We're seeing an evolution in the type of messages and if you really want to connect with consumers, don't tell them whether they should or should not do it. Give them information that will inform their decision."
Lars Hagberg / The Canadian Press
Marijuana pictured in Kingston, Ont.
Health Canada's warning messages for cannabis act as a "pretty good template" for its general communication campaign, he said.
The health warnings say cannabis smoke is harmful, and that cannabis can increase the risk of psychosis and schizophrenia. Another warning says not to use it if pregnant or breastfeeding. But one warning is indeed a throwback, saying simply: "don't use it".
Marc Paris, executive director of Drug Free Kids Canada, said his organization has developed a pamphlet, primarily for parents, to help them talk to their kids about marijuana. Health Canada helped with the project by providing funding for translation, printing and distribution.
Paris said about 250,000 pamphlets have been distributed so far and there's been a resurgence of requests as Oct. 17 quickly approaches.
More from HuffPost Canada:
He said a lot of parents have been "keeping their head in the sand" for some time, refusing to realize the inevitable—that marijuana will soon be legal.
"First thing we say to parents is that talking to your kids about drugs is not one conversation, it's an ongoing conversation." That means having parents ask their kids what they would say if someone offered them a joint at a party.
Conservative health critic Marilyn Gladu said she would like to see more education before legalization happens.
"If I'm a young person and I'm just going about my life and I'm not really aware about politics, I'm not concerned about marijuana being legalized. Everybody's already smoking it, so I might not know of the harms. I might not understand there's a test being put in place for impaired drug driving and how that might impact me. I might not be aware of the changes that we might expect."
Let’s hope it’s just the start here.
$61.85 CDN premarket...
https://chicago.suntimes.com/cannabis/pot-topics-cannabis-weed-edibles-medical-marijuana/amp/?__twitter_impression=true
Pot Topics: Illinois opioid patients may soon have medical cannabis alternative
The Sun-Times curates a weekly round-up of cannabis news. | File Photo
The Sun-Times curates a weekly round-up of cannabis news. | File Photo
Pot Topics is a weekly collection of cannabis-related news curated by the Chicago Sun-Times. Here’s this week’s top stories:
Action expected on Illinois’ Alternatives to Opioids Act
California lawmakers back bill to expunge and downgrade past marijuana convictions
Florida political candidate claims banking giant closed bank account over her medical marijuana stance
Mormon Church takes a stand on Utah’s medical marijuana ballot initiative
Rauner to take action on alternatives to Opioids Act by Tuesday
Gov. Bruce Rauner speaks at the Thompson Center in Chicago, Illinois on July 16, 2018. | Colin Boyle/Sun-Times
Gov. Bruce Rauner speaks at the Thompson Center on July 16, 2018. | Colin Boyle/Sun-Times
Gov. Bruce Rauner is expected to take action on a bill that would give opioid patients the option to use medical cannabis to treat their pain.
Rauner’s office said he is currently reviewing the bill and will act on it by Tuesday’s deadline. If the governor vetoes the measure, the Legislature can override the move with a three-fifths vote in both houses.
The bill, dubbed the Alternatives to Opioids Act, would significantly expand the state’s medical cannabis pilot program by giving people who have been prescribed opioids the opportunity to obtain a temporary medical cannabis card.
Under the bill, temporary access could not exceed 90 days, although a doctor could re-certify a patient after that point. The measure would also eliminate requirements for temporary patients to submit to background checks and fingerprinting.
It’s unclear how many new patients the legislation would bring to the state’s medical cannabis program or how much additional revenue would be generated, according to state Sen. Don Harmon, D-Oak Park, who co-sponsored the bill alongside state Rep. Kelly Cassidy, D-Chicago.
Bob Morgan, Illinois’ former medical cannabis czar, estimated that the measure would help “tens of thousands of people in Illinois” who would be granted expedited access to a medical cannabis card.
“The Act adds an important new tool for physicians in Illinois — allowing a doctor to issue a medical cannabis certification instead of prescribing highly-addictive opioids,” Morgan added.
Lawmakers from both parties have rallied around the bill as they search for new ways to respond to the mounting toll of the opioid crisis.
In 2016, 1,946 people died in Illinois from opioid overdoses, nearly twice the number of people killed in fatal crashes in the state, according to the most recent data from the Illinois Department of Public Health.
Overall opioid deaths in Illinois increased 82 percent between 2013 and 2016, according to the IDPH, which attributed the spike to the rise of synthetic painkilers like fentanyl.
“It certainly does seem to have grown out of control,” Harmon told the Sun-Times earlier this year. “I know a lot of people are dying from heroin and opioid overdoses, and I don’t know of anyone who has died from a cannabis overdose.”
Very nice
It will be a huge day in the capital...Ottawa.
Lennon is the man!
I can’t breath.
Still early but $55.75 pre market........
Lol. My money that left is lonely as well.
Unbelievable movement today!!!
Tide changed in a heartbeat...wow
Canada could eventually get $2B boost from pot tourism: Expert
https://www.bnn.ca/1.1126567.1534866738
Canopy Growth receives amended licences from Health Canada
Source: PR Newswire (Canada)
New Automated Distribution Centre Enhances Smiths Falls Campus
SMITHS FALLS, ON, Aug. 22, 2018 /CNW/ - Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) ("Canopy Growth" or the "Company") is pleased to announce that it has received amended licences from Health Canada that increase the size and sophistication of its national footprint.
The amended licences include a nearly doubling of growing capacity at its Smiths Falls Campus at 1 Hershey Drive, an additional 223,200 sq. ft. of cultivation space at its majority-owned Les Serres Vert Cannabis Inc. ("Vert Mirabel") greenhouse in Mirabel, Quebec, and a licence for a highly automated, state-of-the-art Distribution Centre located at its Smiths Falls campus.
Increased production capacity at the Smiths Falls and Mirabel sites will increase Canopy's ability to reach consumers in every market once recreational sales are permitted in October 2018. In Smiths Falls, the specific licensed rooms will also become part of a new Tweed Visitor Centre experience that is launching August 25, 2018. Adults over 19 years of age will be able to stroll along the catwalk Hershey left behind and look down on a new era of production activity.
The Distribution Centre will serve as Canopy Growth's hub for business to business ("B2B") and business to consumer ("B2C") distribution across Canada. The facility will play a central role in the Company's strategy for meeting the strong demand for medical cannabis as well as the anticipated demand from the soon to be legalized adult use recreational cannabis market.
"We've been focused on building an industry leading growing, value-add and distribution platform across Canada and today we took steps to make it considerably larger and more sophisticated. The new highly automated Distribution Centre is critical to operating in an efficient and cost-effective manner, while meeting the needs of our provincial partners" said Mark Zekulin, President and Co-CEO, Canopy Growth.
At over 80,000 sq. ft., the Distribution Centre in Smiths Falls was designed by distribution industry leaders and is truly the gold standard with fully automated high-speed packing and excise stamp labelling lines.
Canopy Growth's industry leading platform across Canada now includes over 2.7 million sq. ft. of existing, fully licensed capacity, along with award winning brands, a network of licenses for retail stores, and a proven track record as the country's leading medical cannabis provider with more registered patients and product sold than anyone else. While the Company still has significant required infrastructure awaiting final regulatory approval for use, today's announced amendments bring the Company one step closer to readiness for October's planned recreational cannabis market.
Here's to Future Growth (now with robots!).
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 ten licensed cannabis production sites with over 2.4 million square feet of production capacity, including over 500,000 square feet of GMP-certified production space. The Company has operations in 11 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. 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, the serving as the hub for business to business (B2B) and business to consumer (B2C) distribution across Canada, meeting the anticipated demand from Canada's soon to be legalized adult use recreational cannabis market, delivering the right product, on time, every time. 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 operation of the automated packaging and labeling lines; the role of the facility in the Company's national operations; and such risks contained in the Company's 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.
SOURCE Canopy Growth Corporation
Copyright 2018 Canada NewsWire
Shorts must be forced to cover...
Nice update!
WOWZERS!!!
Well said.
Thanks for the update & GOOD MORNING indeed.
Can’t u smell that smell
$$$$
Looky here. The short sellers are back after a couple days of silence injecting their snake oil theories.
Making headway!!!
Looking solid this morning as expected. Need was all over the Canadian news yesterday.
GOOD MORNING VIETNAM!!!!
https://nationalpost.com/pmn/news-pmn/canada-news-pmn/weeds-want-ads-longer-marijuana-job-searches-up-as-industry-grows-study
Weed's want ads longer, marijuana job searches up as industry grows: study
The Canadian Press Andy Blatchford August 14, 2018
4:30 AM EDT
OTTAWA — The growth of Canada’s soon-to-be-legal recreational pot industry is starting to create a small buzz among job hunters.
The job website Indeed has released new numbers that show cannabis-related searches, while still small, were more than four times higher last month compared to the year before. The data say weed-related searches increased to 26 out of every 10,000 searches, up from six.
Employers, the data found, have also been looking for more help within the expanding cannabis industry — from retail “budtenders,” to production assistants, to quality assurance. New help-wanted ads in the sector were up three-fold last month, compared to a year ago, and now make up 25 out of every 10,000 new jobs on the website.
“Cannabis-related searches and job postings remain a small corner of the Canadian labour market, but they’re growing rapidly,” Indeed economist Brendon Bernard wrote in the report.
The economic possibilities and job-producing prospects of the cannabis industry have been rising in the leadup to Oct. 17, the date Canadians will be legally allowed to purchase and consume recreational marijuana.
The growth potential is sure to attract workers on its own, but some could be lured by the opportunity to make a living in an industry emerging after decades of prohibition.
Job seekers’ searches for cannabis-related work spiked at the start of 2018, which coincided with media headlines about surging stock prices of several Canadian marijuana firms, the report said.
From there, a greater number of employers moved into hiring mode in the months that followed. There was a 50 per cent jump in cannabis-related job postings between April and early May.
More than half the country’s pot-related want ads were for jobs in Ontario, which the report notes is also home to the headquarters of major players in the industry.
“With aggressive hiring plans, Canadian cannabis companies are posting openings across a wide range of job types,” Bernard wrote.
“The main roles in demand are for workers to grow the product and for others to sell it.”
The most-advertised cannabis roles on the website included quality assurance, retail workers, production assistants, maintenance technicians, executive assistants and nurses, which is likely connected to the existing medical marijuana market. Want ads in the recreational market will also add to opportunities in the already established medicinal pot industry.
With recreational weed’s move towards legalization, even the terminology used by job searchers has experienced an evolution, the report said.
“Last summer, about as many Canadian job seekers on Indeed looked up the word marijuana as cannabis,” it said.
“A year later, cannabis has left marijuana in the dust, outnumbering it in searches more than five to one.
Here, here.
Pot-based medical pet products closer to fruition as research grows
https://www.bnn.ca/1.1121715.1533857756
Spectrum Cannabis Introduces First of its Kind Catalyst Peer Mentorship Program
Source: PR Newswire (Canada)
SMITHS FALLS, ON, Aug. 10, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) and its wholly owned subsidiary Spectrum Cannabis, together with Dr. Danial Schecter, Co-founder of the Cannabinoid Medical Clinic, today announced a new Catalyst Peer Mentorship Program ("Catalyst Program") which will link physicians from across the country with colleagues who possess advanced knowledge of the cannabis field in order to provide case-by-case support.
Logo: Spectrum Cannabis (CNW Group/Canopy Growth Corporation)
Canada's regulatory framework for cannabis in Canada is evolving quickly, creating more and more interest from patients and healthcare practitioners in Canada. Though there are nearly 300,000 registered medical cannabis patients in Canada, still less than one in five physicians feel comfortable prescribing cannabis as a treatment option. To address this education gap, the Company believes it is important that educational resources and support networks are provided to healthcare professionals in the form of qualified peer mentors who possess advanced knowledge of medical cannabis. The Catalyst Program aims to do just that.
"We have spent the last four years engaging physicians through a number of educational initiatives including accredited education. Adding a peer education element will increase the number of credible educational resources available to Canadian healthcare professionals seeking more cannabis-specific information," said Mark Zekulin, President & Co-CEO, Canopy Growth.
The Catalyst Program will connect Canadian physicians with specialist mentors through telephone, email, fax and videoconferencing to provide case-by-case support and guidance on issues pertaining to the clinical aspects of prescribing medical cannabis. There will also be opportunities for physicians to participate in Continuing Professional Development (CPD) programs regarding cannabinoid medicine. Specialized mentors have been identified and recruited to participate in the program by Dr. Schecter along with Canopy Growth's medical outreach team. As a recognized expert in cannabinoid medicine, Dr. Schecter has trained thousands of physicians and other healthcare professionals on determining where and how medical cannabis may be implemented as a treatment option for their patients.
"The need for increased healthcare education and support to develop competencies in cannabinoid medicine is imperative and our goal is to educate physicians and other healthcare professionals, while simplifying the dialogue around medical cannabis," said Dr. Schecter, Chair of the Catalyst Program. "The Catalyst Peer Mentorship Program is committed to equipping healthcare professionals with the support they need to optimize patient outcomes and prioritize patient safety, in this case, through peer to peer education and training."
Spectrum Cannabis: Medical Cannabis. Simplified.
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 ten licensed cannabis production sites with over 2.4 million square feet of production capacity, including over 500,000 square feet of GMP-certified production space. The Company has operations in 11 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. For more information visit www.canopygrowth.com
About Spectrum Cannabis
Spectrum Cannabis, a wholly-owned subsidiary of Canopy Growth, is dedicated to simplifying medical cannabis for patients and healthcare practitioners. Spectrum Cannabis is an international medical business which interfaces with healthcare professionals and patients around the world. Founded in Canada, Spectrum Cannabis operates in Australia, South America, Africa and across Europe. Spectrum Cannabis products are available in a wide range of potencies and formats designed to simplify the dialogue around strength and dosage by applying a colour-coded Spectrum to categorize medical cannabis according to THC and CBD levels. Its product lineup includes whole flower cannabis, oils and new innovations such as Softgels. Through product simplification, easy dosing formats, in addition to ongoing education of healthcare professionals, Spectrum is committed to improving the lives of medical cannabis patients around the globe.
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 the Company's focus on Latin America, the Company's position in the market, the advancement of medical cannabis internationally, capturing market share, leveraging the clinical and market access work in Chile, the Company's global growth strategy. 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 updating of regulations in individual nations; the ability to integrate the acquired businesses into the Company's operations; the time and resources of management devoted to integration and expansion efforts; and such risks contained in the Company's 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.
SOURCE Canopy Growth Corporation
Copyright 2018 Canada NewsWire
Canopy Growth Announces Further Consolidation of Latin America Assets with Full Acquisition of Spectrum Cannabis Chile
Source: PR Newswire (Canada)
SMITHS FALLS, ON and SANTIAGO, Chile, Aug. 9, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) is pleased to announce the acquisition of all remaining outstanding shares of its Chilean in-market entity, Spectrum Cannabis Chile SpA ("Spectrum Cannabis Chile").
Canopy Growth Announces Further Consolidation of Latin America Assets with Full Acquisition of Spectrum Cannabis Chile (CNW Group/Canopy Growth Corporation)
This transaction brings Spectrum Cannabis Chile fully under the Canopy Growth umbrella and directly supports the Company's plans for development within the LATAM region which is home to more than 600 million people. Thanks to progressive regulations and Government support, Chile is known throughout Latin America as an ideal location for medical and pharmaceutical research. The country has more clinical studies per resident than any other in Latin America.
In line with the Company's strategy of leveraging the strengths of each country, Chile will continue as Canopy LATAM's regional research and development hub. Currently, Spectrum Cannabis Chile has a pain management focused clinical trial underway. The trial which has been approved at both Phase I and Phase II was designed by Dr. Serio Sánchez, a Chilean doctor, medical cannabis pioneer, and the founder of Cannabis Chile, one of the country's leading cannabis advocacy groups.
In addition to advancing this clinical trial, Dr. Sánchez has joined the leadership team of Spectrum Cannabis Chile and will bring his extensive experience to the organization by serving as the Chilean medical lead. He will also serve on the Medical Board for Canopy LATAM, the company's regional headquarters. Having treated over 5000 patients with medical cannabis, Dr. Sánchez has a wealth of experience in evaluating and advancing the recognition as well as use of cannabis-based medicines.
"Chile is an important part of our strategy for this region and completing this acquisition marks another successful step forward in our plan," said Mark Zekulin, President and Co-CEO, Canopy Growth. "Spectrum Cannabis Chile, working closely with the team at Canopy Health Innovations in Canada, will continue to lead regional research activities with a focus on developing additional evidence to support the use of cannabis-based medicines across Latin America and the world."
This transaction also builds on the recent acquisition of Spectrum Cannabis Colombia which, leveraging the unique growing conditions and favourable regulatory climate in Colombia, will serve as a regional production and export hub for Canopy Growth across Latin America.
As countries across the region update their legislation and further define their domestic medical cannabis markets, Canopy LATAM will continue to pursue market access and a position of leadership, ensuring that patients have access to high quality, regulated medical cannabis.
In exchange for Cannagrow SpA's 15 percent interest in Spectrum Cannabis Chile SpA, Canopy Growth paid cash consideration of US$750,000. Prior to the acquisition, the Company controlled 85 percent of the issued and outstanding shares of Spectrum Cannabis Chile SpA.
Spectrum Cannabis. Medical Cannabis Simplified.
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 ten licensed cannabis production sites with over 2.4 million square feet of production capacity, including over 500,000 square feet of GMP-certified production space. The Company has operations in 11 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. For more information visit www.canopygrowth.com
About Spectrum Cannabis
Spectrum Cannabis, a wholly-owned subsidiary of Canopy Growth, is dedicated to simplifying medical cannabis for patients and healthcare practitioners. Spectrum Cannabis is an international medical business which interfaces with healthcare professionals and patients around the world. Founded in Canada, Spectrum Cannabis operates in Australia, South America, Africa and across Europe. Spectrum Cannabis products are available in a wide range of potencies and formats designed to simplify the dialogue around strength and dosage by applying a colour-coded Spectrum to categorize medical cannabis according to THC and CBD levels. Its product lineup includes whole flower cannabis, oils and new innovations such as Softgels. Through product simplification, easy dosing formats, in addition to ongoing education of healthcare professionals, Spectrum is committed to improving the lives of medical cannabis patients around the globe.
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 the Company's focus on Latin America, the Company's position in the market, the advancement of medical cannabis internationally, capturing market share, leveraging the clinical and market access work in Chile, the Company's global growth strategy. 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 updating of regulations in individual nations; the ability to integrate the acquired businesses into the Company's operations; the time and resources of management devoted to integration and expansion efforts; and such risks contained in the Company's 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.
Cision View original content with multimedia:http://www.prnewswire.com/news-releases/canopy-growth-announces-further-consolidation-of-latin-america-assets-with-full-acquisition-of-spectrum-cannabis-chile-300694732.html
SOURCE Canopy Growth Corporation
Copyright 2018 Canada NewsWire