Canopy Growth and DNA Genetics Extend and Expand Relationship
SMITHS FALLS, ON and LOS ANGELES, CA , March 19, 2019 /CNW/ - Canopy Growth Corporation ("Canopy") (WEED.TO) (CGC) ("Canopy Growth" or the "Company"), a world-leading, diversified cannabis company and OG DNA Genetics ("DNA"), a globally recognized cannabis brand, are pleased to announce today they have signed an agreement to extend and expand upon their previously announced partnership through to 2024. With this newly signed agreement, Canopy Growth and DNA have extended their partnership beyond Canada and Jamaica and have committed to bringing DNA's world-renowned genetics to a soon-to-be disclosed European market.
Canopy Growth and DNA entered into their first agreement for the Canadian market in 2015. The partnership gave Canopy Growth access to a wealth of unique, genetically-diverse cannabis strains that it then incorporated into its Canadian product lines. In 2017, the partnership between Canopy Growth and DNA was renewed and expanded into Jamaica to bring DNA's original strains into future Caribbean markets. Under the terms of today's announcement, Canopy Growth and DNA have committed to working together through 2024 and will make every effort to expand into global markets, including Europe , where regulations permit the legal sale of cannabis for medical and recreational purposes.
"Teaming up with DNA has proven to be a very strong and mutually beneficial partnership," said Bruce Linton , Chairman and co-CEO of Canopy Growth. "Renewing our partnership for the next five years was a no-brainer for us and we look forward to introducing their high-quality DNA products to consumers around the world."
"We are thrilled with the ongoing success of our relationship and the momentum we are enjoying with our partners at Canopy Growth," said Charles Philips , CEO of DNA. "The strength of our phenotyping and quality standards combined with Canopy's global presence and distribution power is a winning combination that is providing consumers in key markets around the world with the best possible cannabis."
For over 15 years, DNA has set a global industry standard for breeding genetically diverse strains that are considered best-in-class. Their diligent phenotyping process led to more than 200 global cannabis awards, making them the most celebrated cannabis breeders in the world. DNA Certifiedâ„¢ products distributed by Canopy Growth have been grown using DNA's genetics, under the careful supervision of both DNA and Canopy Growth.
About OG DNA Genetics
DNA Genetics
was rooted in Los Angeles and founded in Amsterdam in 2004 by Don
Morris and Aaron Yarkoni . Over the last decade, the Company
has built and curated a seasoned genetic library and developed
proven standard operating procedures for genetic selection,
breeding, and cultivation. In a world that is increasingly opening
up to commercial cannabis activity, DNA is positioned to become the
first, truly geographically-diversified company with multiple
partnerships with top-licensed producers and brands that have built
their companies and global presence utilizing the "Powered by DNA"
model. For more information, please visit www.dnagenetics.com
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. Canopy
Growth offers medically approved vaporizers 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 is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and through its wholly owned subsidiary, Canopy Health Innovations ("Canopy Health"), has devoted millions of dollars toward cutting edge, commercializable research and IP development. Canopy Growth works with the Beckley Foundation and has launched Beckley Canopy Therapeutics to research and develop clinically validated cannabis-based medicines, with a strong focus on intellectual property protection. Canopy Growth acquired assets of leading hemp research company, ebbu, Inc. ("ebbu"). Intellectual Property ("IP") and R&D advancements achieved by ebbu's team apply directly to Canopy Growth's hemp and THC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities. 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. Canopy Growth has established partnerships with leading sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, Battelle, the world's largest nonprofit research and development organization, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates ten licensed cannabis production sites with over 4.3 million square feet of production capacity, including over 500,000 square feet of GMP certified production space. The Company operates Tweed retail stores in Newfoundland and Manitoba and has entered into supply agreements with every Canadian province and territory. 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 entering new international markets. 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 entering new
international markets, and such risks contained in the Company's
annual information form dated June 27, 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.
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SOURCE Canopy Growth Corporation
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