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Canopy Growth Obtains Health Canada License For Beverage Facility, Now Has All 'Cannabis 2.0' Licenses

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Canopy Growth Obtains Health Canada License For Beverage Facility, Now Has All 'Cannabis 2.0' Licenses

Canopy Growth Corporation (TSX: WEED)(NYSE: CGC) said Monday it has obtained Health Canada’s operating and secure storage license for its 150,000 square foot beverage facility.

With the addition of this license, the company now has all “cannabis 2.0” connected licenses, needed for vapes, chocolates and beverages.

Smiths Falls-based facility is functional, and it will start with the production of cannabis-infused beverages on Monday.

"This licence represents years of hard work to bring our vision to life. We are deeply proud of the team's hard work and dedication that has brought us from the tear-down of the original building in early 2019, through to the completion and licensing of our brand new facility," Mark Zekulin, CEO of Canopy Growth, said in a statement. "We also appreciate the support of our partner, Constellation Brands, who lent their expertise from building and equipment design to staffing requirements for this world-class facility."

See Also: Exclusive: Canopy Growth's CEO On The Cannabis Company's Stock Price, Growth Potential, Global Footprint

During the first phase of production, Canopy will produce eleven beverages all based on the company’s special distilled cannabis process, with first shippings to the provinces expected in the upcoming weeks.

The company said it's now ready to supply the Canadian market with a plethora of new cannabis 2.0 products, such as beverages, vapes and chocolates.

Canopy Growth’s stock traded 6.6% higher to $19.62 per share at time of publication.

Posted-In: Cannabis 2.0 Health CanadaCannabis News Markets Best of Benzinga

 

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