SMITHS FALLS, ON, Dec. 13, 2018 /CNW/ - Canopy
Growth Corporation (TSX: WEED) (NYSE: CGC) ("Canopy Growth" or the "Company") announces today that it has entered into a
multi-year extraction agreement with Valens GroWorks Corp. (CSE: VGW) (OTC-PINK: MYMSF) ("Valens"), a licensed, vertically
integrated provider of cannabis products and services focused on various proprietary extraction methodologies, distillation,
cannabinoid isolation and purification.
Under the terms of the multi-year agreement, Valens will utilize their proprietary technology and methodologies to process the
Company's whole flower and trim into high-grade cannabis resin. Canopy Growth expects the first shipment of product for
extraction will occur before the end of December 2018.
Valens previously joined Canopy Growth's CraftGrow program in October 2017. CraftGrow provides
craft cannabis producers with the opportunity to bring unique cannabis products to market through the Company's leading sales
channels. Having recently received its cultivation licence, Valens expects to have its first branded products available via
CraftGrow for the medical and recreational markets by the end of March 2019.
"Diversifying our extraction supply capabilities with Valens, a company positioning itself as a specialized extractor,
increases our ability to supply a consistent, high-quality inventory of oils for products such as Softgels," commented
Mark Zekulin, President & Co-CEO, Canopy Growth. "We're also excited to see Valens progress in
its licensing capabilities so that it can add its products to our CraftGrow program, increasing the diversity of high-quality
cannabis products available for medical and recreational customers in 2019."
"We are pleased to provide specialized extraction services to support Canopy Growth's innovative product offerings, while also
capitalizing on our CraftGrow partnership to bring Valens branded products to market in the new year," says Tyler Robson, CEO, Valens GroWorks Corp. "We take pride in our proprietary extraction processes and are
honoured to be recognized for our capabilities in supporting the growth of the cannabis market, particularly with the increasing
role cannabis oils will soon play in the edibles space."
Here's to Future Growth.
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. The
Company has operations in 12 countries across five 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 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 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 ten licensed cannabis production sites with over 4.3 million
square feet of production capacity, including over 500,000 square feet of GMP certified production space. For more information
visit www.canopygrowth.com
About Valens GroWorks
Valens GroWorks Corp. is a research-driven, vertically integrated Canadian cannabis company focused on downstream
secondary extraction methodology, distillation and cannabinoid isolation and purification, as well as associated quality testing
with three wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech ("VAL") holds a license to cultivate cannabis and produce cannabis oil under the Cannabis Act,
as well as a license to conduct analytical testing for the cannabis industry. VAL also has a supply agreement with Canopy
Growth Corporation under their extensive CraftGrow distribution network. Subsidiary Valens Labs is
a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services and has partnered
with Thermo Fisher Scientific to develop a Centre of Excellence in Plant Based Science. Subsidiary Valens Farms is in the process
of becoming a purpose-built facility in compliance with European Union (EU) Good Manufacturing Practices (GMP) standards,
ensuring the product from this facility can be exported anywhere in the world where Cannabis is nationally legal for medical or
adult usage purposes. For more information, please visit http://valensgroworks.com. The Company's investor deck can be found specifically at http://valensgroworks.com/investors/
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 new products entering Canopy Growth sales
channels, and statements regarding extracted product and supply into medical or recreational markets. 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, 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.
SOURCE Canopy Growth Corporation
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