Ontario-based global cannabis producer Canopy Growth Corporation (TSX: WEED) issued a year-end letter to investors detailing past accomplishments and expectations for 2018. Rather than simply point you to the long press release, we have extracted highlights here, to give you a quick overview of this major global cannabis company.
Among Canopy’s 2017 accomplishments, these stood out:
- growing its presence in Canada to include existing and planned facilities in seven provinces, totaling over 5.6 million sq. ft. (129 acres)
- making major investments in infrastructure to support extraction, resin refinement and oil production, Softgel capsules, and distribution infrastructure
- continuing expanding internationally, including production in Denmark and Jamaica, and a distribution network supplying pharmacies across Germany. Continued work in Brazil, Chile, and Australia with AusCann Holdings
- continuing brand development with leading partners, including: DNA Genetics, Leafs By Snoop, Organabrands and Green House Seeds.
- signing supply deals with the provinces of New Brunswick, Newfoundland, and Labrador
- maintaining leading market share with Canadians, with 69,000 registered customers at year-end choosing Tweed Main Street for medical cannabis
- receiving C$245 million strategic investment from Constellation Brands, bringing a Fortune 500 company in as a strategic ally
The letter also gave broad brush plans for 2018, including:
- establishing global leadership positions for Spectrum Cannabis and Tweed in Europe, Latin America, and the Australian continent
- producing cannabis in Denmark to meet the needs of patients and regulators seeking medical cannabis produced in Europe for Europe
- pursuing existing positions in Chile and Brazil as Latin America matures as a market opportunity
- working to bring its global leadership to Australia as its cannabis laws are finalized
- continuing to not operate in any country without federally permissible cannabis laws—including the USA. Canopy believes the United States presents undue risks and could jeopardize it’s ability to attract major institutional investors or get listings on major securities exchanges
- continuing to focus on opportunities in legal, regulated recreational markets—a multi-billion dollar opportunity. It will do so by 1) growing quality products 2) building brands people trust, 3) and maintaining strong supply from a massive production platform.