Canopy Growth Corporation (TSX: WEED) today announced that it has signed a letter of intent with the Société des alcools du Québec ("SAQ") to provide the Quebec market with 12,000 kilos of high-quality cannabis annually.
This announcement marks Canopy Growth's fourth and largest supply agreement to-date, following previous agreements with the Provinces of New Brunswick, Newfoundland and Labrador, and Prince Edward Island. Three provinces have now announced supply arrangements with Licensed Producers, all of which include Canopy Growth. The Company now has more supply commitments than any other Licensed Producer in the country.
"We've made major investments in the Province of Québec and feel honoured to be chosen to supply the country's second-largest province, and a region we call home, with our wide variety of cannabis products," said Mark Zekulin, President, Canopy Growth. "Signing this letter of intent with SAQ further establishes our dedication to the region and our level of commitment to providing adult consumers in Québec with safe, high-quality cannabis."
Canopy Growth has established a large presence in Québec with the acquisition of Vert Cannabis in Saint Lucien, Québec, and the recent introduction of Vert Mirabel, a Joint Venture with Les Serres Stéphane Bertrand Inc., a large-scale tomato greenhouse operator in Mirabel, Québec.
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About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. 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 established partnerships with leading sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates seven cannabis production sites with over 665,000 square feet of production capacity, including over 500,000 square feet of GMP-certified production space. The Company has operations in seven countries across four continents. The Company is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through partly owned subsidiary Canopy Rivers Corporation, the Company is providing resources and investment to new market entrants and building a portfolio of stable investments in the sector. From our historic public listing to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. For more information visit www.canopygrowth.com
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Canopy Growth signs letter of intent with Société des alcools du Québec
