SMITHS FALLS, Ont.—Tweed Marijuana Inc. closed on its Bedrocan Cannabis Corp. late last month, cementing its place at the head of Canada’s medical marijuana business with thousands of customers and licenses to produce nearly 6,000 kilograms of marijuana per year. In wake of the transformation, the company is rebranding as Canopy Growth Corp. Shareholders voted to approve the new trading and corporate name last week, while shares will begin trading under the CGC ticker Sept. 22.
“Rebranding as Canopy Growth Corporation marks the evolution from a singular enterprise to a multi-brand holding company that can focus on diversified markets,” Bruce Linton, chairman and CEO of CGC, said.
“We started with one intelligent and approachable brand, Tweed… Next we added Bedrocan, with their industry-leading focus on research and a line of standardized cannabis strains. Together, these distinct voices will allow us to attain a dominant market position in Canada and build the foundation for international expansion,” he added.
The company said its subsidiaries will continue operating as distinct entities and operating platforms. With the domestic industry advancing and international expansion becoming “increasingly viable,” CGC said it is well-positioned to capitalize on both market opportunities.