Canopy Growth (CGC) announces it has acquired a plant-based business

: CGC | Canopy Growth Corporation  News, Ratings, and Charts

CGC – KeyLeaf Life Sciences is becoming part of Canopy Growth.

KeyLeaf Life Sciences continues its progress in plant-based innovation by becoming part of Canopy Growth’s strategic family.

SASKATOON, Saskatchewan , June 28, 2019 /CNW/ — KeyLeaf Life Sciences (KeyLeaf) is pleased to announce the next stage in its relationship with strategic partner Canopy Growth Corporation (Canopy) (TSX:WEED, NYSE:CGC). KeyLeaf, a Saskatchewan based company, is becoming a wholly owned subsidiary of Canopy and will play a key role in Canopy’s pursuit of leadership in cannabis extraction, purification and fractionation. This relationship will allow KeyLeaf to help shape the cannabis and hemp industry as part of a network of worldwide partners and progress KeyLeaf towards leadership in plant-based ingredients.

“This is a very exciting time for KeyLeaf,” says Dr. Rick Green , President of Intellectual Capital Generation. “Canopy has utilized KeyLeaf’s decades of success in plant-based extraction and innovation for some time and bringing our two parties closer is an indication of how successful our partnership has been. Expanding our relationship advances Saskatchewan to centre stage in the global marketplace for plant extracts and natural products.”

KeyLeaf is no stranger to innovation. KeyLeaf opened its doors in 1977 as POS Pilot Plant Corporation with a 54,000 sq. ft. research facility at the University of Saskatchewan in Saskatoon . Looking to nearby canola fields for its first project, progressive thinking and advanced technology enabled KeyLeaf to fundamentally create North America’s canola oil industry overnight. KeyLeaf has since been on the cutting edge of ingredient breakthroughs for over 40 years and has established a gold standard reputation for innovation in food research, nutraceuticals, bio-based products, and now cannabis and hemp.

After completing more than 5,400 projects for clients in more than 40 countries over the past four decades, and with an additional processing facility in Batavia, Illinois , KeyLeaf has renewed its commitment to the Agri-food industry by placing the development and commercialization of high value plant-based extracts, including CBD, at the core of all activity.

As the global community demands more from plants, KeyLeaf will continue to innovate in the areas of plant-based extracts and ingredients, supplying new insights and remaining an active contributor to research communities in Saskatchewan and across the world.

For more information, on KeyLeaf Life Sciences, visit www.keyleaf.ca.

About KeyLeaf
KeyLeaf Life Sciences is a global ingredient and process technology company established over 45 years ago. Headquartered in Saskatoon, Saskatchewan , KeyLeaf is recognized around the world as a trusted expert in plant-based bioprocessing. KeyLeaf has worked with over 800 companies from more than 40 countries and continues to increase Saskatchewan’s global visibility as a hub for innovation.

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) 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.

Canopy Growth’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen , breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 4.7 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com

Notice Regarding Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to future product format offerings and throughput capabilities. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the Company’s ability to satisfy provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company’s annual information form dated June 27, 2018 and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.


Canopy Growth Corporation (CGC - Get Rating) shares were trading at $40.41 per share on Friday afternoon, down $0.25 (-0.61%). Year-to-date, Canopy Growth Corporation (CGC - Get Rating) has gained 50.39%, versus a 18.23% rise in the benchmark S&P 500 index during the same period.

 

 

 

 


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