Canopy Growth Crop. (TSX: WEED) has recently announced that it has received additional licensing that allows the company to increase its production capacity for its Tweed branded cannabis facilities in Canada.
Canopy, and its majority owned subsidiary Tweed, owns one of the largest cannabis cultivation facilities in the world. The 1.3 million sq. ft. greenhouse facility located in Aldergrove, BC, now has 840,000 sq. ft. of properly licensed space to product high grade cannabis. Canopy Growth Corp.’s second Tweed branded site has also received new approval from Health Canada for an additional 900,000 sq. ft.
of cultivation space.
In 2018 alone, Canopy will more than double its production and is on schedule to exceed a total of 5.6 million sq. ft. This will allow the company to continue the distribution of medical grade cannabis in Canada, as well as, increase the companies total kg of exports to continents like Europe and Australia.