Canopy Growth Wins Crucial License for Beverages
Top marijuana stock Canopy Growth (NYSE: CGC) closed marginally higher on Monday, following the receipt of an important new license. The company announced that it has won an operating and secure storage permit from Health Canada, that country's cannabis industry regulator, for a beverage production and development facility.
This production line, which is already operational, is part of Canopy Growth's existing facility in its headquarters town of Smiths Falls, Ontario.
The company isn't wasting any time starting production of drinks infused with cannabis substances. In Monday's press release heralding the new license, Canopy Growth said the facility launched production the same day the permit was granted. The goods rolling off the line will be available across Canada "within weeks," the company said, with specific timing depending on each province.
Source Fool.com