Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) announced this morning that their Tweed Farms cannabis cultivation operation has received an amendment to their license which will approve all of the company’s remaining greenhouse space. Now, Canopy Growth Corporation will own 3.2 million sq. ft. of licensed cultivation space at their Tweed Farm located in Ontario, Canada.
As one of the top public cannabis companies in Canada, Canopy Growth Corp. continues to position itself to meet the expected demand when the country legalizes the recreational consumption of cannabis for adults on October 17, 2018. As one of the company’s most important assets, Tweed Farm represents 80% of their licensed cultivation space and is also one of the largest licensed production facilities in the world.
Canopy Growth Corp. currently owns and operates cannabis related businesses in 5 different continents and a total of 11 different countries. Their stock currently trades on the Toronto Stock Exchange at a price of $62.14 a share and the company have a market cap of $14.06 billion dollars.
Mark Zekulin, co-CEO and President, Canopy Growth gave this statement in the press release, ” We are a house of cannabis brands and that means we need production infrastructure that can grow a wide range of genetics at scale simultaneously.I’m proud of this most recent licence and credit our team as we continue our track record of expansion and execution.”