Mr. Bruce Linton reports
CANOPY GROWTH COMPLETES THREE YEAR SUPPLY AGREEMENT WITH THE SOCIETE DES ALCOOLS DU QUEBEC
Canopy Growth Corp. has completed a three-year supply agreement with the Societe des alcools du Quebec (SAQ) for 12,000 kilograms of high-quality cannabis products.
Securing this long-term agreement marks another important step in preparing for a legal recreational market in the province of Quebec and builds upon the letter of intent signed in early February of this year.
"This agreement is an exciting next step in delivering a wide range of our safe, high-quality products to consumers across the province," said Mark Zekulin, president, Canopy Growth. "Quebec is home for Canopy Growth and we're proud to be advancing this long-term partnership to develop the Quebec market."
Canopy Growth has well-established presence in the province of Quebec through its wholly owned subsidiary Vert Cannabis in Saint Lucien and Vert Mirabel, a company recently formed with Canopy Rivers and Les Serres Stephane Bertrand Inc., a large-scale greenhouse operator in Mirabel. The 700,000-square-foot greenhouse at Vert Mirabel is currently being retrofitted and optimized for cannabis production.
The supply agreement is conditional upon the federal and provincial governments adopting the necessary regulatory framework.
This agreement is a milestone of significance for the Canadian cannabis industry as a whole and, accordingly, congratulations are in order for other licensed producers which have completed their first agreements with the SAQ, marking a truly historic day for the sector.
Here's to future growth.
About Canopy Growth Corp.
Canopy Growth is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Through its wholly owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over 500,000 square feet of GMP-certified indoor and greenhouse production capacity, all to an unparalleled level of quality assurance procedures and testing. Canopy Growth has established partnerships with leading sector names in Canada and abroad, with interests and operations spanning four continents.
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