Canopy Growth has closed the acquisition of the property at 1 Hershey Drive that currently houses Canopy Growth's headquarters and the Tweed production facilities.
"Increasing the scale of our cannabis production capacity is vitally important to our operations," said Bruce Linton, Chairman and CEO of Canopy Growth. "Even as a diversified producer using greenhouse growing and indoor growing facilities, we know there will be a need for commercial processing space that can be used to convert cannabis and cannabinoids into higher margin products like edibles, as well as complimentary products such as vape pens, or sophisticated medical delivery options that may be allowed under future legal frameworks. Almost tripling the footprint of our headquarters means more potential for our business, for the economy of Smiths Falls, and for Tweed's customers."
The entire 472,000 sq. ft. footprint could almost triple current production and processing capacity, making it by far the largest indoor cannabis production facility in Canada and likely the world. The 42-acre site could also house hundreds of thousands of square feet of additional production and processing space, either indoors or in greenhouse growing platforms.
Tweed has already transformed 168,000 sq. ft. of licensed space into Canada's most innovative cannabis production space. Twelve of 39 potential growing rooms are operational with another 12 multi-level growing rooms under construction and nearing completion. An R&D area has been used to drive innovation with some of Canada's leading researchers and universities. Oil extraction capabilities, a separate Dealer's Licence area, an in-house Quality Assurance lab, and the industry's only seed breeding area have all been added and brought online in the last three years.
"The future looks bright for Tweed and Canopy Growth's operations in this facility," continued Linton. "It might even be time to reopen the famous Visitor Centre and start training tour guides."
For more information:
Canopy Growth
1 Hershey Dr.
Smiths Falls, Ontario
K7A 0A8
1 855 558 9333 x 122
invest@canopygrowth.com
www.canopygrowth.com
472,000 sq. ft.