Here’s the press release in full
Canopy Growth Launches Spectrum Australia with Support from the Victoria State Government
SMITHS FALLS, ON and MELBOURNE, Australia, April 25, 2018 /CNW/ – Canopy Growth Corporation (TSX: WEED) (“Canopy Growth” or the “Company”) is pleased to join the Victoria State Government in announcing the launch of the newest member of the Canopy Growth family, Spectrum Cannabis Australia (“Spectrum” or “Spectrum Australia”).
Minister for Agriculture, the Hon. Jaala Pulford, alongside Ben Quirin, Managing Director of Spectrum Australia, announced the Company will invest up to $16 million AUD (~$16 million CAD) in the State of Victoria over the next four years to establish Spectrum’s Asia-Pacific (APAC) headquarters and research and development facility.
The State Government of Victoria has been an outstanding partner and welcomed our investment in the region with a shared passion for innovation in the medical cannabis industr. Victoria is now home for Spectrum as we introduce our world renowned medical cannabis products to the State, across Australia, and throughout the entire APAC region as jurisdictions establish legal, regulated medical cannabis regimes.
Ben Quirin, Managing Director, Spectrum Australia
The Victoria facility will enable domestic cultivation and production of high quality medical cannabis for patients while serving as a distribution hub for other jurisdictions in APAC. It will also operate as the APAC Research and Development Center for the Company, supporting the ongoing research collaboration between Spectrum Australia and Agriculture Victoria on innovations in medical cannabis cultivation and production.
Collaborating with international experts on cultivation and manufacturing will build Victoria’s capacity to develop our medicinal cannabis industry to be able to supply reliable and high quality medicinal cannabis products.
The launch of Spectrum Australia builds on Canopy Growth’s leadership position in the global medical cannabis space. Spectrum Australia’s priority is to improve the lives of patients. This goal will be accomplished by focusing on three core areas:
- Ensuring an affordable and consistent supply of medical cannabis is available to patients in Australia
- Building production and research infrastructure in Australia
- Engaging in rigorous evidence-based physician and pharmacist education to ensure patients’ access needs are met
This week Canopy Growth renewed its commitment to Australian partner, AusCann (ASX: AC8). Together with the State Government of Victoria and our strong local partner Spectrum Australia is committed to building an industry for the benefit of patients and healthcare professionals throughout APAC.