Canopy Growth, New Brunswick sign MOU for weed sup­ply

Stockwatch Daily - - CONSUMER GOODS - Mr. Mark Zekulin re­ports

CANOPY GROWTH Corp. and the Prov­ince of New Brunswick have reached a sig­nif­i­cant mile­stone in the his­tory of Cana­dian cannabis, whereby the govern­ment of New Brunswick, through a newly cre­ated pro­vin­cial au­thor­ity and Canopy Growth, have en­tered into a sup­ply mem­o­ran­dum of un­der­stand­ing (MOU) to guar­an­tee a re­li­able and high-qual­ity sup­ply of cannabis prod­ucts into New Brunswick’s re­tail stores that will flow from a Crown cor­po­ra­tion newly formed by the Prov­ince of New Brunswick.

As one of the first MOUs be­tween a li­censed cannabis pro­ducer and a pro­vin­cial body for cannabis sup­ply for the re­tail en­vi­ron­ment, this is a con­crete step to­ward the fed­er­ally tar­geted date of July, 2018, for le­gal­iza­tion of recre­ational-use cannabis. Canopy Growth is ex­cited, along with fel­low pro­ducer Or­gan­i­gram, to be a part of this land­mark mo­ment, and com­mends the lead­er­ship shown by the Prov­ince of New Brunswick as it moves pro-ac­tively to en­sure its sup­ply needs are met for the an­tic­i­pated adult-use cannabis mar­ket.

The two-year sup­ply agree­ment, in­clud­ing four mil­lion grams of cannabis and cannabis de­riv­a­tive prod­ucts for the first year, is ex­pected to have an es­ti­mated re­tail value of $40-mil­lion in its first year.

“New Brunswick has led the coun­try in its ef­forts to at­tract cannabis jobs and in­vest­ment and Canopy Growth is proud to be uti­liz­ing lo­cal trades and to hire in New Brunswick for the site we are es­tab­lish­ing in Fred­er­ic­ton,” said Mark Zekulin, pres­i­dent, Canopy Growth. “To­day we take the next step to­wards the fu­ture of cannabis in New Brunswick with a truly his­toric MOU. We are ex­cited to bring high-qual­ity brands like Tweed, Leafs By Snoop, DNA Ge­net­ics, as well as a num­ber of the best in­de­pen­dent craft grow cannabis pro­duc­ers across Canada to the peo­ple of New Brunswick through this ar­range­ment.”

Based on pro­duc­tion ca­pa­bil­i­ties across the Canopy-wide pro­duc­tion plat­form, this agree­ment will not af­fect med­i­cal sales or our com­mit­ment to meet­ing the needs of Cana­di­ans who re­quire cannabis for med­i­cal pur­poses.

Stay­ing true to its long-stand­ing com­mit­ment to cor­po­rate so­cial re­spon­si­bil­ity, in­clud­ing part­ner­ships with MADD Canada, the Cana­dian AIDS So­ci­ety, Par­ent Ac­tion on Drugs and a com­mit­ment to con­trib­ute funds from all on-line cannabis oil sales to ed­u­ca­tion, Canopy Growth will proudly rem it a mon­e­tary amount equal to 2 per cent of the gross value of all cannabis prod­ucts sold to the govern­ment an­nu­ally for so­cial and/ or ed­u­ca­tional pro­grams.

About Canopy Growth Corp.

Canopy Growth is a world-lead­ing di­ver­si­fied cannabis com­pany, of­fer­ing dis­tinct brands and cu­rated cannabis va­ri­eties in dried, oil and cap­sule forms. Through its wholly owned sub­sidiaries, Canopy Growth op­er­ates numer­ous state-of-the-art pro­duc­tion fa­cil­i­ties with over half a mil­lion square feet of GMP-cer­ti­fied in­door and green­house pro­duc­tion ca­pac­ity, all to an un­par­al­leled level of qual­ity as­sur­ance pro­ce­dures and test­ing. Canopy Growth has es­tab­lished part­ner­ships with lead­ing sec­tor names in Canada and abroad, with in­ter­ests and op­er­a­tions span­ning four con­ti­nents.

We seek Safe Har­bor.

John K Bell, Barry Fish­man, Mur­ray Gold­man, Bruce Lin­ton, An­drew M W Mof­fat, Larry Poirier, Christo­pher James Sch­narr

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