17:27:59 EDT Sat 04 Jul 2020
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Canopy Growth Corp
Symbol WEED
Shares Issued 349,362,249
Close 2020-03-17 C$ 14.58
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Canopy Growth to close Tokyo Smoke, Tweed stores today

2020-03-17 07:25 ET - News Release

Mr. David Klein reports


Canopy Growth Corp. has been monitoring the Covid-19 outbreak and paying close attention to the guidance given by public health bodies around the globe. Canopy Growth's leadership team has made the decision to temporarily close all corporate-owned Tokyo Smoke and Tweed retail locations across Canada, effective at 5 p.m. local time today, March 17.

"We have a responsibility to our employees, their families and our communities to do our part to flatten the curve by limiting social interactions. For us, that means shifting our focus from retail to e-commerce," said David Klein, chief executive officer, Canopy Growth. "This is a big decision but it was also an easy one to make -- our retail teams are public facing and have been serving an above-average volume of transactions in recent days. Given the current situation, it is in the best interest of our teams and our communities to close these busy hubs until we are confident we can operate our stores in the best interest of public health."

Canopy Growth also has a responsibility to its customers and medical patients to continue providing access to their desired cannabis products and prescribed medication. The company has established fully supported e-commerce platforms available to the company's recreational and medical customers across the country to provide business continuity for people seeking the company's products.

The decision affects the 23 corporately owned stores in Newfoundland, Saskatchewan and Manitoba as well as the Tweed Visitor Centre in Smiths Falls, Ont.

Patients will be able to continue purchasing medical cannabis through Spectrum Therapeutics. Adult consumers within Manitoba and Saskatchewan are able to purchase Canopy Growth products through Tweed and Tokyo Smoke e-commerce platforms; all other provinces and territories will be supported through government-run on-line retail.

About Canopy Growth Corp.

Canopy Growth is a world-leading, diversified cannabis, hemp and cannabis device company offering distinct brands and curated cannabis varieties in dried, oil and softgel capsule forms, as well as medical devices through Canopy Growth's subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.

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