Canopy Growth Corporation (TSX: WEED) today announced that it has completed a three year supply agreement with the Société des alcools du Québec for 12,000 kgs 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 Québec market."
Canopy Growth has well-established presence in the province of Québec through its wholly- owned subsidiary Vert Cannabis in Saint Lucien and Vert Mirabel, a company recently formed with Canopy Rivers and Les Serres Stéphane Bertrand Inc., a large-scale greenhouse operator in Mirabel. The 700,000 sq. ft. 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 who have completed their first agreements with the SAQ, marking a truly historic day for the sector.
Here's to Future Growth.
About Canopy Growth Corporation
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 half a million 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. The Company is proudly dedicated to educating healthcare professionals, providing consistent access to high quality cannabis products, conducting robust clinical research, and furthering the public's understanding of cannabis. For more information visit www.canopygrowth.com.
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