Certification Enables Canopy Growth to Continue Exporting High Quality Cannabis to Global Medical Markets
SMITHS FALLS, ON, October 10, 2023– Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (Nasdaq: CGC) announced today that it received EU GMP certification from RP Tuebingen, Regional Health Inspectorate of Baden-Wuerttemberg for the Company’s world class cannabis cultivation facility in Kincardine, Ontario.
As a final step to completing the Company’s consolidation of its production footprint into two purpose-built sites, the receipt of EU GMP certification enables Canopy Growth to continue exporting certified medical cannabis to medical markets in Europe as well as other medical cannabis markets around the world.
“The receipt of EU GMP certification for our Kincardine facility is a significant milestone for Canopy Growth as we complete the transformation of our business and position it for long-term growth and market leadership,” said David Klein, Chief Executive Officer of Canopy Growth. “Today’s announcement further demonstrates our team’s proven ability to evolve our business and positions us to continue serving medical cannabis customers in Europe and around the world with high quality flower.”
As a longstanding leader in the international medical cannabis segment, Canopy Growth’s
medical brands currently service European medical markets in Germany, Czech Republic, and Poland as well as Asia-Pacific markets including Australia & New Zealand. The Company believes the receipt of EU GMP certification preserves opportunities across distribution channels and geographies in the EU medical markets and ensures that Canopy Growth is positioned for opportunistic entry into new medical markets as they legalize, based on the Company’s asset-light development strategy.
About Canopy Growth
Canopy Growth is a leading North American cannabis and consumer packaged goods (“CPG”) company dedicated to unleashing the power of cannabis to improve lives. Through an unwavering commitment to our consumers, Canopy Growth delivers innovative products with a focus on premium and mainstream cannabis brands including Doja, 7ACRES, Tweed, and Deep Space. Canopy Growth’s CPG portfolio features targeted 24-hour skincare and wellness solutions from This Works, gourmet wellness products by Martha Stewart CBD, and category defining vaporizer technology made in Germany by Storz & Bickel.
Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through its rights to Acreage Holdings, Inc., a vertically integrated multi-state cannabis operator with principal operations in densely populated states across the Northeast, as well as Wana Brands, a leading cannabis edible brand in North America, and Jetty Extracts, a California-based producer of high-quality cannabis extracts and pioneer of clean vape technology.
Beyond our world-class products, Canopy Growth is leading the industry forward through a commitment to social equity, responsible use, and community reinvestment—pioneering a future where cannabis is understood and welcomed for its potential to help achieve greater wellbeing and life enhancement.
For more information visit www.canopygrowth.com
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