Coming after a multiple year process to design, apply and construct the space, it was announced today that Canopy Growth Corp. (OTC:TWMJF) (TSX:CGC) wholly-owned subsidiary Tweed Inc. received a Dealers License for the company's purpose-build area within their production facility in Smiths Falls, Ontario.
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Until today there were just 17 licensed dealers in Canada. Four licensed dealers previously existed in the Ontario province before the newly licensed Tweed Inc. Some of these licensed dealers, such as Anandia Labs have already made valuable breakthroughs and discoveries, as mentioned below.
New Capabilities for Tweed
This new license will expand Tweed's capabilities in terms of research, production and more. According to the release:
Licensed activities will occur in a distinct area of the facility focused on strategic projects beyond Tweed's existing operational scope. As a licensed dealer, Tweed will be able to conduct research and possess cannabis and cannabis derivatives in forms that are not currently covered by the Access to Cannabis for Medical Purposes Regulations (ACMPR). It can also begin development of innovative products for future market opportunities, and with necessary approvals undertake the export of non-dried form of cannabis to other jurisdictions.
Innovation & Collaboration
This new license and new space will push Tweed beyond dried herb cannabis and into exploring even higher margin alternative methods of cannabanoid delivery. According to the release:
"Pursuing and achieving this Dealers Licence reinforces Tweed's commitment to more research, both at Tweed and the recently launched Canopy Health Innovations," said Bruce Linton, Chairman and CEO of Canopy Growth. "We have already begun exploring offerings, markets and potential collaborations for the newly licensed space. We look at this area of our business like an incubator where we can foster fresh ideas for the application of cannabinoids that will drive cannabis innovation forward with the goal of improving our offering to Tweed's global customers."
22nd Century and Anandia
One existing licensed dealer, Anandia Laboratories in Vancouver, has already been collaborating with 22nd Century Group (NYSE:XXII) on high-CBD cannabis strains, low-THC hemp strains and more since October of 2015. The two companies developed and own rights to 4 genes required for cannabinoid production.
In fact the co-founder of Anandia, Jonathan Page Ph.D. co-led the team that sequenced the cannabis genome in the first place. He has been recognized for years as a leader in the space and has worked closely to help XXII develop valuable cannabis and tobacco related intellectual property (IP) rights.
For more information and custom stock charts for Canopy Growth Corp. be sure to check out the company's stock profile in our growing Marijuana Stocks Database. For Canopy Growth Corp.'s press release regarding the new license click here.