New beverage, chocolate, and vape products set to hit the market.
Canopy Growth Corporation (NYSE:CGC) officially unveiled its Cannabis 2.0 portfolio in late 2019 and is pleased to provide the following updates on the Company's 2.0 innovation products that have launched into the Canadian recreational market in early 2020, and additional upcoming product releases.
We have said all along that infused beverages were going to be game-changer for our industry and we are excited to introduce this new product category to even more Canadian adult consumers in the coming weeks.David Klein CEO
The first wave of the Company's ready-to-drink cannabis-infused beverages, Tweed Houndstooth & Soda and Tweed Bakerstreet & Ginger, shipped in March 2020 and April 2020, respectively. Houndstooth & Soda, the first THC-infused ready-to-drink beverage to hit the Canadian market, garnered positive early reviews and strong consumer demand across the country, with further shipments having since been sent to provincial boards and retailers to meet ongoing demand. Canadians can expect to see two additional beverages, Houseplant Grapefruit and Deep Space, available through retail and e-commerce platforms within the coming weeks.
"We are proud to see the early responses to our infused beverages," shared CEO David Klein. "Our beverage innovation team took a flavour-first approach with our drinks, and the first four offerings to hit the market demonstrate the range of our portfolio, with flavour profiles that will satiate our consumers' palates."
Canopy Growth also released four cannabis-infused chocolate SKUs in early 2020, Tokyo Smoke Pause, Tokyo Smoke Go, Tweed Houndstooth & Mocha, and Tweed Bakerstreet & Peppermint. Produced in Canopy's bean-to-bar chocolate factory in Smiths Falls, Ontario, the premium THC-infused bars have been a hit with consumers.
Since early 2020, Canopy Growth released a number of innovative vape pen components including batteries, pods, and 510 cartridges. Tokyo Smoke Luma, a premium, design-forward closed-loop system featuring a rechargeable battery and interchangeable pods, is currently available in Tokyo Smoke's 'Go', Sativa dominant, Intent, with 'Pause', Indica dominant, being released shortly. JUJU Power, the Company's rechargeable UL-Certified 510 vape battery is compatible with our 510 cartridges currently on the market, including Tweed Houndstooth, Sativa dominant, Tweed Bakerstreet, Indica dominant, Twd. Indica, and soon-to-be-released Twd. Sativa. Tweed's 510 cartridges and JUJU Power are also available for medical patients via the Spectrum Therapeutics online store.
Canopy's 510 threaded vape cartridges were designed using surgical-grade steel and borosilicate glass, and all vape electronics components are produced using the UL 8139 Certified Safe Manufacturing standard. The premium distillate in the pods and cartridges contains only cannabis and terpenes, free of polyethylene glycol, vegetable glycerin or vitamin E acetate. Vape formulations and hardware were designed in tandem throughout every step of the development process to ensure optimal performance when paired.
In addition to the above-noted 2.0 innovation products, Canopy Growth recently launched its ~ 1 ounce SKUs, Twd. 28 Sativa and Twd. 28 Indica, via Twd., the Company's value cannabis brand. The Company believes that consumers have the right to high quality, high THC flower at an accessible price, and Twd.28 was developed to provide potency and value for purchasers who prefer to buy their cannabis by the ounce. The introduction of competitively priced bulk offerings into the legal Canadian recreational market will also continue to help to shift sales from the illicit market.
SKU availability by region will vary depending on provincial product listings and distribution models. For specific product availability consumers are encouraged to check in with their local retailer or provincial e-commerce channels.
"We are extremely proud of everything we've accomplished so far in 2020," said Klein. "Despite challenging circumstances both at home and around the globe, our production teams and dedicated staff have worked tirelessly to bring these innovative new products to consumers."
Here's to Future Innovative Growth.
To learn more about Canopy Growth, visit the company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
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