Canopy Growth Unveils New Cannabis 2.0 Products Portfolio at Toronto Launch Event - The Cannabis Investor
Nov 28
Source: Shutterstock & Canopy

Canopy Growth Unveils New Cannabis 2.0 Products Portfolio at Toronto Launch Event

Canopy Growth Also Announces 5 New Ontario Retail Locations

Cannabis 2.0 Products Include Beverages, Vapes and Edibles

Canopy Growth (TSX: WEED) (NYSE: CGC) followed up on yesterday’s announcement by unveiling its new Cannabis 2.0 portfolio of products at a media event in Toronto, Ontario today. Canopy gave event attendees a first-hand look at the company’s new line up of cannabis beverages, chocolates and vapes. Included in the beverage portfolio was none other than Seth Rogen’s Houseplant brand of Lemon and Grapefruit flavoured cannabis-infused drinks.

“With the coming of Cannabis 2.0, our goal is to provide customers with the best quality products, and I truly believe through the hard work and dedication of our team, we have delivered just that. Since our first medical sale in 2014, we’ve been focused on innovation and quality, and now we’re expanding that with the launch of our game-changing recreational beverages, chocolates, and vapes,” stated Canopy Growth CEO Mark Zekulin.

Today’s media event comes on the heels of Monday’s big announcement which informed investors that Canopy has now secured all the necessary Cannabis 2.0 licences including the one for its 150,000 sq ft beverage facility in Smiths Falls, Ontario. The new Smith Falls facility went into operation the very same day and is already producing cannabis-infused drinks. Also in operation is Canopy’s new state-of-the-art chocolate factory which is being run in conjunction with its partner Hummingbird Chocolate.

Just hours ago at the Toronto media event, Canopy introduced the following new products:

  • Juju Joints recyclable single-use vape pen and Juju Power pod-based vape system.
    • The new vape products are expected to sell for $34.99 and $79.99 and will include a smartphone app allowing consumers to control the technology as well as providing strain information.
  • Canopy’s line of beverages called Distilled Cannabis which will come in a variety of THC and CBD infused options.
  • Tweed RTD beverages will be made from the brand’s three main strains at various strengths and pre-mixed in 355 ml Distilled Cannabis cans.
    • 2 mg THC options will include Bakerstreet & Ginger Ale and Houndstooth & Soda.
    • The Penelope & Tonic option will contain 1.5 mg CBD and 2 mg THC.
  • Houseplant by Seth Rogen and Evan Goldberg will be available in Grapefruit and Houseplant Lemon flavours with both options containing 2.5 mg of THC per can.
  • The company’s newest brand Quatreau is being described as a “refreshing line of beverages focused on wellness enthusiasts.”
    • Quatreau beverages will come in Cucumber & Mint and Passion Fruit & Guava flavours with both options containing 20 mg of CBD. Ginger & Lime and Blueberry Acai will also be available with both options containing 2mg of THC and 2mg of CBD.
  • Canopy’s most potent option dubbed “Deep Space” comes in at the Health Canada maximum of 10mg of THC per serving.
  • Finally, the company introduced its line of cannabis infused-chocolates created in partnership with Hummingbird Chocolate.
    • The infused-chocolates will be available in the following options:
      • Bean & Bud: 5 mg of THC infused with premium dark chocolate.
      • Tweed: 1.8 mg of CBD and 2.5 mg of THC infused in four squares of milk chocolate.
      • Tokyo Smoke: 10 mg of THC with a minimal amount of CBD infused with dark chocolate.
  • All chocolate products will start at roughly $8 + tax with drinks expected to sell for $3.49 + tax.

Canopy Growth anticipates its first shipment of Cannabis 2.0 products will happen on December 16, 2019.

5 New Retail Stores Coming to Ontario

On a separate and equally important note, Canopy Growth announced this morning that the company’s award-winning retail subsidiary Tokyo Smoke has signed deals with several of the recent Ontario retail licence winners to open five new retail cannabis stores in the province of Ontario.

“As a company, we are pleased to see this progress in the Ontario retail market. Increasing our presence in Toronto and for the first time north of the GTA is an important step to continuing the growth of the Tokyo Smoke brand and providing Ontarians with easy access to the education and high-quality cannabis retail experiences they seek,” said Zekulin.

Three of the locations have already been posted on the AGCO website with the other two receiving official confirmation and are expecting to be posted online in short order.

The new Tokyo Smoke retail stores will be located at the following addresses:

  • 570 Bloor St. West, Toronto, Ontario
  • 1303 Queen St. East, Toronto, Ontario
  • 75 Pinebush Road Unit D0005, Cambridge, Ontario
  • 390 Lakeshore Dr. Unit 3, North Bay, Ontario
  • 1082 Memorial Avenue, Thunder Bay, Ontario

The locations above are owned and operated by independent business owners but will have the support and expertise of Canopy’s retail team. Upon the opening of all five of the new retail locations, Canopy will officially have its retail banners in 32 locations across Canada with additional locations planned for 2020.

News of the progress and improvement in the Ontario retail space could not come at a better time considering the recent dismal quarterly earnings released by Canopy Growth, Aurora Cannabis (TSX: ACB) (NYSE: ACB), Cronos Group (TSX: CRON) (NASDAQ: CRON) and Tilray (NASDAQ: TLRY). Each of the big four Canadian licensed producers (LPs) blamed Ontario’s failed retail rollout for their weaker than expected earnings.

With Ontario headed in the right direction and Canopy’s Cannabis 2.0 product portfolio ready to go, analysts believe the worst is over for Canada’s top cannabis producer. Investors should expect to see Canopy’s earnings begin to improve as the company starts earning a return on its substantial Legalization 2.0 investment.

Shares of Canopy Growth’s TSX listed stock closed trading today at $25.54 per share, up 2.16% on the day.

Source: Barchart.com

Learn more about Canopy Growth: Website | IR Website | Investor Deck | WEED Chart

Also Read: Bottom Fishing For Pot Stocks: Top 20 Oversold Cannabis Stocks

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