Canada’s Biggest Cannabis Companies: Canopy Growth Corporation
Who is Canopy Growth Corporation?
Canopy Growth Corporation is a cannabis company based out of Smiths Falls, Ontario, Canada. Formerly known as Tweed Marijuana Inc., the founder, Bruce Linton, renamed the company Canopy Growth Corporation in 2015. The company is the first ever federally regulated and publicly traded cannabis producer in North America. It began trading on the Toronto Stock Exchange (TSX) as WEED. In addition, the company also trades on the New York Stock Exchange (NYSE) as CGC as of May 24th, 2018.
Tweed Marijuana Inc. was founded by Bruce Linton, a Carleton University grad, in 2014. The company was renamed to Canopy Growth Corp. in September of 2015. Canopy Growth is the parent company of licensed cannabis producers Tweed Inc., Tweed Farms Inc., and Spectrum Cannabis, just to name a few. CGC operates out of the former Hershey’s chocolate factory in Smiths Falls, Ontario, as well as the Tweed Farms Greenhouse in Niagara-on-the-Lake.
In addition to their operations in Canada, Canopy Growth has several overseas operations. For example;
Alcaliber S.A, a pharma company in Spain.
Spectrum Cannabis GmbH, a subsidiary in Germany that imports medical cannabis.
Spectrum Cannabis Denmark ApS, a medical cannabis grower in Denmark.
Annabis Medical, a distributor in the Czech Republic.
Daddy Cann Lesotho, a medical marijuana supplier in Africa.
Canopy Growth is also involved with businesses in Jamaica, Chile and Brazil, as well as in Australia. As of late May 2018, the company has eight grow sites in seven countries. Not to mention, a total grow capacity of above 2.4 million square feet.
Take a quick look at what happens behind the scenes and how a small town in Ontario got a new start.
Smiths Falls Location
As mentioned in the video above, Smiths Falls, Ontario was facing some hard times. An old Hershey’s chocolate plant was purchased by Tweed in 2013. The main purpose of the plant was to produce medical marijuana. The warehouse had previously been empty since Hershey moved out years ago. Hundreds of jobs were eliminated when the chocolate giant left. When Tweed took over, the company started with a few employees.
At the present time, they have 500 employees at this site alone.
We’ve got operations all over Canada and all over the world but this is the principal hub of operations,
Jordan Sinclair – Tweed communications manager
We are seeing an economic revival like we’ve never seen before,
Mayor Shawn Pankow
Take a look at how Tweed helped the community of Smiths Falls in the video below.
In conclusion, Canopy Growth brought many jobs back to Smiths Falls and helped their community in more ways then one. It’s great to see a Canadian company flourish in the cannabis industry.
What are your thoughts on Canopy Growth Corp.? Do you feel they are helping the Canadian economy? Leave your comments below.
Don’t forget to read our article about Aurora Cannabis, another big player in Canada’s booming cannabis industry.