Canopy Growth releases updated timeline for beverage launch

Canopy Growth releases updated timeline for beverage launch

After previous delays, a new launch date has been set

Opening a beverage facility in Canada is a process that Canopy Growth Corporation has been working on for the last several months. In June 2019, when the first documentation was presented to Health Canada, the company was getting things rolling and it received its license last November 2019. During these last seven weeks after getting its license, Canopy Growth has been working on refining the details that ensure the process of creating beverages in the laboratory can be transferred to upscale production for commercialization, without any alterations. Given the fact that this scaling process has not been finished yet, there has been a change in the original dates in which the new products are supposed to hit the market.

This by no means discourages this multi-brand company from moving forward and it remains confident in being able to accomplish the upscaling successfully, currently, the internal departments of the company are working on the last details for the final steps to be completed. This will ensure the delivery of high-quality cannabis beverages that will stand out from the competition. “Canopy has had seven weeks to work with THC in the brand-new beverage facility to scale processes and IP it has developed in the R&D environment,” said Canopy Growth CEO David Klein. “In order to deliver products that meet our customer’s high standards we are electing to revise the launch date while we work through the final details.”

Coming to the market with a series of beverages of the highest quality is an important step for the company. The cannabis beverage is somehow a sensation among people and some even choose a drink as an introductory product to try cannabis. Although the launch will be inevitably delayed, Canopy Growth does not believe this decision to have a significant impact on the revenue for the fiscal year 2020. The next update from the company will be given along with the reports from the third quarter of the present fiscal year.

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