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Goalkeeper1on Dec 08, 2017 9:23am
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canopy inks another deal
canopy inks another deal
Newfoundland & Labrador and Canopy Growth Enter Comprehensive Supply, Development and Retail Agreement
ST. JOHN’S & SMITHS FALLS, ON, Dec. 8, 2017 /CNW/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) along with representatives from the Province of Newfoundland and Labrador today are pleased to announce that the Company has entered into a supply and production agreement, the largest provincial cannabis supply agreement announced to date, securing a regulated supply of cannabis for Newfoundlanders and Labradorians heading into the legal adult access market.
Canopy Growth will supply 8,000 kg of high quality cannabis products annually for the first two years of the deal. Under the terms of the agreement, Canopy Growth will establish a new production facility in Newfoundland and Labrador capable of producing 12,000 kg per year, bringing 145 jobs in an emerging sector and major capital investment to the region. Site locations are being evaluated to house what could be the first licensed production facility in the province.
“This agreement today with an internationally recognized producer not only guarantees a safe supply of cannabis for Newfoundland and Labrador before the federally imposed July 2018 implementation date, but also results in the creation of 145 new jobs in our province,” said the Honourable Christopher Mitchelmore, Minister of Tourism, Culture, Industry and Innovation, Newfoundland and Labrador. “We will also use this as a framework for other agreements related to cannabis supply and production. Our vision is for an industry which leads to production, job creation, supply chain development and research and development in this province.”
Canopy’s operations will soon stretch from Coast to Coast, with locations now planned in seven provinces including Newfoundland and Labrador. Wherever we operate we look for ways to integrate ourselves into the local community to make sure we are giving back to the communities we call home.
FYI tfsa limit for 2018 is $5500
Cheers gk1