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Canopy Growth Corp
Symbol CGC
Shares Issued 100,823,424
Close 2016-02-24 C$ 2.96
Market Cap C$ 298,437,335
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Canopy Growth unit receives cannabis oil licence

2016-02-24 09:07 ET - News Release

Mr. Mark Zekulin reports

TWEED LAUNCHES 10:1 CANNABIS OILS - LAUNCH COINCIDES WITH FIRST-OF-ITS KIND COMMITMENT TO RESPONSIBLE USE EDUCATION FUNDING BY CANOPY GROWTH COMPANIES

Tweed Inc., wholly owned subsidiary of Canopy Growth Corp., has received its licence to sell cannabis oil products. At noon tomorrow, the company will be launching the sale of high-quality 10:1 cannabis oils consisting of GMO-free organic sunflower oil and high-quality CO2-extracted cannabis oils.

Since its inception, Tweed has focused on producing an industry-leading variety of cannabis products that meet the needs of a diverse clientele. To date, that has meant growing a diverse selection of strains to ensure that patients find the strain that truly meets their personal needs. With 10:1 cannabis oils, the company will continue that focus and ensure that patients can still find the strain that is right for them, this time in a digestible format. Starting with popular offerings of Argyle, Princeton and Birds Eye, Tweed will introduce new strain-specific 10:1 cannabis oils on a continuing basis.

The name of the new product line, 10:1 cannabis oils, reflects the ratio that each 10 millilitres of oil will contain the equivalent of one gram of the corresponding Tweed dried-flower variety. The company will sell 10:1 cannabis oils in 100 ml bottles.

"Introducing this new product category to our customers will undoubtedly come with a learning curve and ease of use and education was top of mind for us. Creating a simple, universal equivalency factor between flower and oil was the logical solution and a simple way to ensure customers can manage their dosing confidently," said Mark Zekulin, president, Tweed.

Tweed chose to balance 10:1 cannabis oils with organic, non-genetically modified sunflower oil because it is versatile enough to cook or bake with, hypoallergenic, and even good to ingest on its own as it comes.

Coinciding with the launch of 10:1 cannabis oils, Tweed and its sister company, Bedrocan Canada, are pleased to announce the launch of a fund to support the delivery of education programs on the responsible use of cannabis.

The companies will commit a combined $50,000 toward partnerships with leading organizations committed to responsible use education. In addition, Tweed and Bedrocan Canada will commit an additional $1, for every bottle of 10:1 cannabis oils sold, to this fund.

"Along with the launch of oils, we know that customers, health care practitioners, and education partners have a lot of questions, and we need to start building the resources to answer those questions using a systematic, Canada-wide approach," said Bruce Linton, chief executive officer of Canopy Growth. "As we move toward a non-medical consumer market, education on responsible use of cannabis will become all the more important, and as responsible companies we need to get out ahead of that curve."

Strain-specific 10:1 cannabis oils will be for sale at the Tweed website from $95 to $155 per bottle, or from $76 to $124 for patients qualifying for Tweed's compassionate pricing program.

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