Canopy Growth announces 50% increase in flower production space and tripling of fulfilment capacity at Tweed Smiths Falls campus
SMITHS FALLS, ON, March 23, 2017 /CNW/ - Tweed Inc. ("Tweed"), a wholly-owned subsidiary of Canopy Growth Corporation (TSX: WEED) ("Canopy Growth" or "the Company"), is pleased to announce the licensing of additional facilities at its flagship Smiths Falls campus, including new grow rooms that will increase flowering space by 50 percent.
"This phase of construction evolves our design and comes in on time and on budget. We've found operational efficiencies that we believe make our existing and newly licensed rooms materially more efficient than they were two years ago. This means more products to market and more variety for customers," said Bruce Linton, Chairman & CEO, Canopy Growth.
Tweed has also received licensing approval for a number of additional rooms targeted at value-added production and operational expansion, including several new fulfilment rooms that will triple Tweed's order fulfilment capacity.
"While more growing space is imperative to our ability to meet demand, we also must be able to scale with increasingly more sophisticated processes and facilities to accommodate rapidly accelerating order demand today and into the future," said Linton.
Following the recent purchase of the 470,000 sq. ft. Hershey Drive campus, expansion work is now fully underway to further increase growing space, value-add processing, product formulation and logistics facilities at the Tweed campus.
Here's to future growth (and shipments).
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. Through its wholly‑owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over half a million square feet of indoor and greenhouse production capacity. Canopy Growth has established partnerships with leading sector names in Canada and abroad. 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, Tweed Inc., Tweed Farms Inc., Mettrum Health Corp., or Bedrocan Canada Inc. 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 Corp. 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.
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SOURCE Canopy Growth Corporation
Investor Relations: Tyler Burns, [email protected], 855-558-9333 ex 122; Director: Bruce Linton, [email protected]
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