Canopy Growth Plans to Annually Produce 5,000kg of Cannabis at Fredericton Facility

Canopy Growth
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Canopy Growth Corp. (TSX: WEED) (NYSE: CGC) has received a cultivation license from Health Canada for its facility in Fredericton, New Brunswick.

Fredericton Plant

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The facility will initially produce more than 5,000kg of cannabis annually. Canopy expects first harvests to become available to the market within six months.

Canopy developed the facility – operating under the company’s Tweed brand – is developed in collaboration with Canopy Rivers (TSXV: RIV).

The plant will boost Canopy’s cannabis production capabilities, supporting the company’s global and local operations focused on recreational and medical customers.

“New Brunswick has emerged as a leader in the legal cannabis sector and the province is an excellent place to do business,” Bruce Linton, co-CEO and Chairman of Canopy, said in a statement. “We will leverage our existing operational expertise to ensure we support the needs of our customers while making a meaningful contribution to the local economy primarily through new job creation.”

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