As a member of the Canopy Growth family, Canopy LATAM will focus on advancing medical cannabis and capturing market share across the region, home to more than 600 million people, as individual nations modernize their medical cannabis legislation.
Canopy LATAM will be led by Antonio Droghetti as Regional Managing Director, a seasoned executive with extensive experience throughout Latin America. Antonio has previously served as a senior leader for the Grupo Silvio Santos, Managing Director of Inframérica, concessionaire of the airport of Brasilia, and CEO of Lifemed, a company that develops products for hospitals and the healthcare sector. Canopy LATAM has already hired a seasoned team of senior staff to drive the continental strategy forward. This team will oversee in-market entities from across the region and management believes it will position the company as the leading cannabis focused healthcare organization in Latin America. Canopy LATAM will work closely with Canopy Growth Chief Medical Officer Dr. Mark Ware to build the necessary global clinical program to ensure expeditious entry into these markets. To support his long-term leadership and reflecting the potential for growth across the region, Canopy LATAM will also acquire all of the issued and outstanding shares of Canindica, a company controlled by Antonio Droghetti.
Spectrum Cannabis Colombia
Colombian Cannabis, holder of all required national licenses for the production, manufacturing, and export of cannabis derivatives, has joined the Canopy Growth family as Spectrum Cannabis Colombia. The company will continue to be led by Bibiana Rojas, a proven Colombian executive, MBA graduate from the Wharton School at the University of Pennsylvania, and former Boston Consulting Group project leader.
With its headquarters in the rich agricultural state of Huila, which averages more than 280 sunny days per year, Spectrum Cannabis Colombia will serve as a regional production and processing hub for Canopy LATAM. Further, Spectrum Cannabis Colombia owns a uniquely-positioned 126 hectare farm suitable for growing and future operations. This site receives a steady supply of fresh water from a natural lagoon, has favourable electricity rates, and is currently licensed for 42 hectares (4.5 million sq. ft.) of production capacity for both psychoactive and non-psychoactive (<1% THC) cannabis.
Leveraging the experience of Canopy Growth, Spectrum Cannabis Colombia will build the necessary facilities to provide for value-added production and sales in Colombia and the broader region, with all products produced intended for regional markets in Latin America. Construction is expected to commence by the end of summer 2018 and be complete within twelve months.
Chile
Chile is well known throughout Latin America for its progressive approach to research and development and Spectrum Cannabis Chile will operate as part of the broader LATAM structure, to ensure that the clinical and market access work already underway in the country for several years can be leveraged into expeditious market access.
Advancing Canopy Growth's operations in Brazil
In line with the significant potential of the region as a whole, Canopy LATAM will advance the organization's strategy for Brazil, the continent's largest country with over 200 million inhabitants.
Initially focused on medical cannabis research, the Brazilian in-market entity will also be led by Antonio Droghetti, Regional Managing Director, Canopy LATAM. Through his experience in building and growing businesses within the country, including in the healthcare sector, Antonio will manage a team focused on the Brazilian market and will direct engagement with regulators.
As the country reviews its medical cannabis legislation, Canopy LATAM will position itself to meet future demand for medical cannabis in this high potential market.
"Today is a historic day for Canopy Growth and a victory for patients across Latin America as we take a leap forward in the future of medical cannabis across the region," said Mark Zekulin, President and Co-CEO, Canopy Growth. "Sustainable regional production coupled with focused in-market entities led by seasoned regional executives is our winning formula, and the launch of Canopy LATAM represents another successfully executed step in our ambitious global growth strategy."
"I'm proud to join the Canopy Growth family and look forward to growing Canopy LATAM into the leading cannabis focused healthcare provider in Latin America," said Antonio Droghetti, Regional Managing Director, Canopy LATAM. "Our region has incredible potential and a real need for controlled, high quality medical cannabis. Leveraging the experience of Canopy Growth and the regional expertise of our country leaders and senior management team, we will collaborate with regulators and ensure that healthcare professionals and patients have access to the information and products they need."
"Thanks to our climate, location, and progressive regulations, we've believed from the beginning that Colombia was uniquely positioned as a leader in the region's emerging medical cannabis industry," said Bibiana Rojas, Managing Director, Spectrum Cannabis Colombia. "It's a proud day as we join Colombian expertise with the world leader in medical cannabis. Together, we can continue to build our Colombian operations with the ambitious goal of serving as a production and processing hub for all of Latin America."
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
Canopy Growth
1 Hershey Dr.
Smiths Falls, Ontario
K7A 0A8
1 855 558 9333 x 122
invest@canopygrowth.com
www.canopygrowth.com