viewCanopy Growth Corporation

Canopy Growth partners with HollyWeed to extract cannabis oils and resins

HollyWeed will process Canopy’s dried cannabis into oil and resin

cannabis oil and plant
The two companies expect the first shipment of cannabis to be used for extraction will take place later this year

Canopy Growth Corporation (NYSE:CGC) (TSE:WEED) said Wednesday that it has struck up a new processing and extraction agreement with HollyWeed Manufacturing & Extracts Inc.

Under the terms of the two-year deal, HollyWeed Manufacturing & Extracts Inc will process Canopy’s dried cannabis into oil and resin at its manufacturing facility in Victoria, British Columbia.

The extraction services provided by HollyWeed extends Canopy Growth’s production commitment in British Columbia where it has more than 3 million square feet of grow space in Delta and Aldergrove.

READ: Canopy Growth rises after announcing cannabidiol product partnership with Martha Stewart

“The cannabis resin we get from HollyWeed will be used for our current offering of oils and softgels, as well as our future advanced manufacturing products,” said Bruce Linton, co-CEO of Canopy Growth.”This is an opportunity for Canopy Growth to build a strong partnership with another high-quality Canadian company.”

The two companies expect the first shipment of cannabis to be used for extraction will take place in fall 2019.

Headquartered in Smiths Falls, Ontario, Canopy Growth is the one of the world’s largest diversified cannabis and hemp companies, offering distinct brands and curated cannabis varieties in dried, oil and softgel capsule forms.

HollyWeed North, the parent of HollyWeed Manufacturing & Extracts, meanwhile, is a private Canadian company, established in 2016, boasting subsidiaries specializing in the growth, manufacturing, licensing and production of cannabis.

Canopy Growth shares held steady at $46.09 in pre-market trade on Wednesday.

Contact Ellen Kelleher at [email protected]

Quick facts: Canopy Growth Corporation

Price: 42.8 CAD

Market: TSX
Market Cap: $16 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


ReNeuron Group completes first dosing of patients in study for new...

ReNeuron Group PLC's (LON:RENE) Michael Hunt talks to Proactive London following news on their data from their latest clinical assessment, which will be presented later this year.  Hunt talks through the phase IIa extension study of its human retinal progenitor cell therapy for...

8 minutes ago

2 min read