Canopy Growth Revises Beverage Launch Timeline

Published: January 20, 2020

Canopy Growth Revises Beverage Launch Timeline

Canopy Growth Corporation submitted its final documentation for its beverage facility to Health Canada in late June 2019 and subsequently received the licence in late November 2019. In the seven weeks since receiving the licence, the Company has made meaningful progress towards scaling the production process for its cannabis beverages from lab scale to commercial scale.

Management remains very confident in the underlying beverage science and in its ability to scale production and deliver high quality, differentiated cannabis beverages to the market. However, the scaling process is not complete, and the Company is extending its to-market date while the internal teams complete the final steps.

“Canopy has had seven weeks to work with THC in the brand new beverage facility to scale processes and IP it has developed in the R&D environment,” said David Klein, CEO, Canopy Growth. “In order to deliver products that meet our customer’s high standards we are electing to revise the launch date while we work through the final details.”

Cannabis beverages have disruptive power and in time, may introduce new consumers to the cannabis category. Canopy does not believe this delay will have a material impact on its FY20 revenue.

The Company intends to provide an update with the release of its Q3 FY20 financial results.

Recent News

View All News Items

Latest Article

Legalization 2.0: IP and Regulatory Considerations for Edibles, Extracts and Topicals

Legalization 2.0: IP and Regulatory Considerations for Edibles, Extracts and Topicals

The legalization of cannabis edibles, extracts and topicals will expand the cannabis market and create new opportunities for producers, innovators and investors. According to a recent report from Deloitte, the Canadian market for these new cannabis products is expected to be worth $2.7 billion annually, with edibles accounting for more than half ($1.6 billion).

 

Read Article