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Canopy Growth Corp
Symbol WEED
Shares Issued 393,351,485
Close 2021-10-04 C$ 16.27
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Canopy Growth notes Karma's release of Karma CBD Water

2021-10-04 11:06 ET - News Release

Mr. David Klein reports


Karma Water has launched Karma CBD Water, the first CBD (cannabidiol) beverage to launch under the Karma wellness and probiotic waters beverage portfolio and that has been developed in partnership with Canopy Growth Corp. Karma CBD Water is crafted with Canopy Growth's broad-spectrum CBD distillate made from U.S. hemp biomass and powered by Karma's patented Push Cap technology, which protects the active cannabinoid constituents until seconds before consumption to ensure optimal potency. The addition of Karma CBD Water combines the wellness benefits of CBD with Karma's leading Push Cap technology to create a first-of-its-kind product for consumers.

"Karma Water is a leader in wellness beverages and we see CBD as the next evolution of our premium infused waters portfolio," said C.J. Rapp, chief executive officer of Karma. "We are thrilled to partner with Canopy Growth to deliver optimum wellness using best-in-class CBD paired with our industry-leading Push Cap technology to bring consumers an innovative new product offering in the CBD-infused beverage space."

"Beverages are continuing to fuel the growth in the CBD category as consumers seek out familiar, fast-acting product formats that fit seamlessly into their busy lives," said David Klein, chief executive officer of Canopy Growth. "Through our strategic partnership with Constellation Brands and Karma, we are thrilled to provide our best-in-class CBD distillate and help add a groundbreaking new CBD wellness beverage to Karma's industry-leading product lineup."

Known for its patented Push Cap technology, which is designed to protect active ingredients and ensure maximum potency and optimal nutrition, Karma CBD Water is infused with 25 milligrams of anti-oxidant-rich CBD distillate, plus four nourishing adaptogens and seven essential vitamins to deliver a full entourage effect to support holistic health. Canopy Growth utilizes industry-leading technology to distill the purest-available CBD from hemp, ensuring a consistent consumer experience with the push of the cap.

Both Karma and Canopy Growth are strategic partners of Constellation Brands (CBI), and the market entrance of Karma CBD Water highlights the power of collaboration between emerging businesses with distinct consumer value propositions within the ecosystem in which the three brands operate. The Karma CBD Water lineup will be distributed through Constellation's beer distribution network, which has helped the company become one of the fastest-growing companies and the third-largest beer company by volume in the United States. The collaboration between Karma and Canopy Growth to offer consumers a truly differentiated, high-quality CBD water beverage, combined with the support of an established and highly successful distribution network will benefit retailers and consumers across the U.S. market in this emerging growth segment.

The company's mantra is centred around offering a beverage that delivers on the promise of wellness. Karma's president, Jeff Platt explained: "Every bottle of Karma contains unprecedented levels of active ingredients, which are then made more effective by the patented Push Cap technology. In contrast, all too often, the active ingredients in premixed drinks deteriorate and underdeliver on their promise."

Karma CBD Water will be available in five natural flavours: cranberry lime, blueberry yuzu, blood orange papaya, lavender orange and watermelon dragonfruit.

Karma Water is naturally sweetened, vegan, non-GMO (genetically modified organism), and free of preservatives, gluten and lactose, and it is available in retail stores nationwide and on-line.

About Canopy Growth Corp.

Canopy Growth is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, Canopy Growth offers product varieties in high-quality dried flower, oil, soft gel capsule, infused beverage, edible and topical formats, as well as vaporizer devices by Canopy Growth and industry leader Storz & Bickel. The company's global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through its award-winning Tweed and Tokyo Smoke banners, Canopy Growth reaches its adult-use consumers and has built a loyal following by focusing on top-quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets, including Canada, the United States and Europe, through BioSteel sports nutrition and This Works skin and sleep solutions; and the company has introduced additional hemp-derived CBD products to the United States through its First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands.

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