Canopy Growth Continues its 2.0 Product Innovation Rollout with New Beverage, Chocolate and Vape Products Arriving in Market
Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX:WEED.TO) (NYSE:CGC) officially unveiled its Cannabis 2.0 portfolio in late 2019 and is pleased to provide the following updates on the Company's 2.0 innovation products that have launched into the Canadian recreational market in early 2020, and additional upcoming product releases.
The first wave of the Company's ready-to-drink cannabis-infused beverages - Tweed Houndstooth & Soda and Tweed Bakerstreet & Ginger -- shipped in March 2020 and April 2020, respectively. Houndstooth & Soda -- the first THC-infused ready-to-drink beverage to hit the Canadian market -- garnered positive early reviews and strong consumer demand across the country, with further shipments having since been sent to provincial boards and retailers to meet ongoing demand. Canadians can expect to see two additional beverages -- Houseplant Grapefruit and Deep Space -- available through retail and e-commerce platforms within the coming weeks.
"We are proud to see the early responses to our infused beverages," shared CEO David Klein. "Our beverage innovation team took a flavour-first approach with our drinks, and the first four offerings to hit the market demonstrate the range of our portfolio, with flavour profiles that will satiate our consumers' palates. We have said all along that infused beverages were going to be game-changer for our industry and we are excited to introduce this new product category to even more Canadian adult consumers in the coming weeks."
Canopy Growth also released four cannabis-infused chocolate SKUs in early 2020 -- Tokyo Smoke Pause, Tokyo Smoke Go, Tweed Houndstooth & Mocha, and Tweed Bakerstreet & Peppermint. Produced in Canopy's bean-to-bar chocolate factory in Smiths Falls, Ontario, the premium THC-infused bars have been a hit with consumers.
Since early 2020, Canopy Growth released a number of innovative vape pen components including batteries, pods, and 510 cartridges. Tokyo Smoke Luma -- a premium, design-forward closed-loop system featuring a rechargeable battery and interchangeable pods, is currently available in Tokyo Smoke's 'Go' (sativa dominant) Intent, with 'Pause' (indica dominant) being released shortly. JUJU Power, the Company's rechargeable UL-Certified 510 vape battery is compatible with our 510 cartridges currently on the market, including Tweed Houndstooth (sativa dominant), Tweed Bakerstreet (indica dominant), Twd. Indica, and soon-to-be-released Twd. Sativa. Tweed's 510 cartridges and JUJU Power are also available for medical patients via the Spectrum Therapeutics online store.
Canopy's 510 threaded vape cartridges were designed using surgical-grade steel and borosilicate glass, and all vape electronics components are produced using the UL 8139 Certified Safe Manufacturing standard. The premium distillate in the pods and cartridges contains only cannabis and terpenes, free of polyethylene glycol, vegetable glycerin or vitamin E acetate. Vape formulations and hardware were designed in tandem throughout every step of the development process to ensure optimal performance when paired.
In addition to the above-noted 2.0 innovation products, Canopy Growth recently launched its ~ 1 ounce SKUs -- Twd. 28 Sativa and Twd. 28 Indica -- via Twd., the Company's value cannabis brand. The Company believes that consumers have the right to high quality, high THC flower at an accessible price, and Twd.28 was developed to provide potency and value for purchasers who prefer to buy their cannabis by the ounce. The introduction of competitively priced bulk offerings into the legal Canadian recreational market will also continue to help to shift sales from the illicit market.
SKU availability by region will vary depending on provincial product listings and distribution models. For specific product availability consumers are encouraged to check in with their local retailer or provincial e-commerce channels.
"We are extremely proud of everything we've accomplished so far in 2020," said Klein. "Despite challenging circumstances both at home and around the globe, our production teams and dedicated staff have worked tirelessly to bring these innovative new products to consumers."
Here's to Future (Innovative) Growth.
About Canopy Growth CorporationCanopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth'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. Canopy Growth has operations in over a dozen countries across five continents.
Canopy Growth's medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.
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 icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 7.5 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com
Notice Regarding Forward Looking StatementsThis 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 future product format offerings. 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 Company's ability to satisfy provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company's annual information form dated June 25, 2019 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
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2020/12/c4731.html
SOURCE: Canopy Growth Corporation
Laura Nadeau, Media Relations, email@example.com, 613-485-0386; Judy Hong, Vice President, Investor Relations (USA), Judy.firstname.lastname@example.org; Tyler Burns, Vice President, Investor Relations (Canada), Tyler.email@example.com, 855-558-9333 ext. 122