Tweed Farms Granted License for Entire 350,000 Square Foot Facility
NIAGARA-ON-THE-LAKE, ON, Sept. 30, 2015 /CNW/ — Tweed Farms Inc. (Tweed Farms), wholly owned subsidiary of Canopy Growth Corporation (TSX.V: CGC) (Canopy Growth), has received Health Canada approval to commence cannabis cultivation in all 350,000 sq. ft. of the facility’s growing space, a ten-fold increase from the previously licensed area.
“We realized very early that diversified growing platforms would allow us to produce a greater range of products, some suited to indoor growing and others that thrive in a greenhouse environment,” said Bruce Linton, Chairman and CEO of Canopy Growth. “We can leverage the production capacity of the greenhouse to meet the needs of an evolving market that will increasingly require scale as we move closer to licensed cannabis oil sales and as more and more patients seek medicinal cannabis as a treatment option.”
Given the scale of growing capacity, Tweed Farms will produce genetically consistent cannabis plants efficiently using tissue culture processing, rather than the area-intensive and more labour-intensive method of cloning from mature “mother” plants. The tissue culture program will be led by Dr. Upeksha Nanayakkara, who holds a Ph.D in plant pathology fromPennsylvania State University.
This new milestone allows the Company to meet the demand for Tweed’s high quality medical cannabis, produced in a natural and carbon friendly environment without the use of artificial lighting or cooling.
“Our production team has now iterated through several harvest and growing cycles, improving and refining growing practices harvest over harvest,” said Angus Footman, President of Tweed Farms. “Now we can apply our expertise over an additional 315,000 sq. ft. of production space, drastically reducing our operating costs per gram.”
The greenhouse facility is currently used to cultivate cannabis plants that are then transferred to Tweed Inc.’s facilities in Smiths Falls, ON for processing, storage and shipment to Tweed customers. During the next phase of construction, which is on budget and on schedule for completion in mid-November 2015, Tweed Farms will complete processing and storage facilities for inspection by Health Canada. These enhancements will integrate the facility vertically and improve efficiency by bringing value-added processes under one roof.
Tweed Farms now has more production space licensed than any other known facility in the Canadian cannabis industry. Combined with 168,000 sq. ft. of licensed indoor production at Tweed Inc. and 55,000 sq. ft. at Bedrocan Canada Inc., Canopy Growth is positioned to produce a consistent and diverse supply of cannabis products across three distinct growing platforms. By producing more products, more consistently, Tweed and Bedrocan will continue to increase market share and bring new strains and varieties to Canadian customers across the country.
Here’s to a lot more future growth.
About Canopy Growth
Canopy Growth Corporation is a listed company on the TSX Venture Exchange (CGC). Its wholly owned subsidiaries, Tweed Inc., Tweed Farms Inc., and Bedrocan Canada Inc. are leading Canadian producers of medical marijuana under the Marihuana for Medical Purposes Regulations (MMPR).
The Company’s group of brands represents distinct voices and market positions designed to appeal to a wide array of customers, doctors and strategic industry partners.
To learn more about our globally recognized brands, our commitment to research and education, and our best-in-class leadership team, please visit www.canopygrowth.com
Notice regarding Forward Looking Statements
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Although Canopy Growth Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Company or any of its subsidiaries. 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.
SOURCE Canopy Growth Corporation
CONTACT: Jordan Sinclair, Communications Manager, [email protected], 613-706-2185 ex: 309
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