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10mg THC-infused beverage and Deep Space XPRESS gummies deliver new flavours and innovation to meet growing consumer demand for higher potency products.
SMITHS FALLS, ON, Nov. 3, 2021 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or "the Company") (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and cannabis device company, today announced two new product offerings from its Deep Space brand - Limon Splashdown, a lemon-lime flavour that extends the existing 10mg THC-infused beverage offering, and Deep Space XPRESS, the company's first single 10mg THC gummy offering in Canada.
Limon Splashdown, the new 10mg THC-infused lemon-lime beverage from Deep Space is an addition to the brand's original cola flavour, appealing to adult consumers who are seeking a citrus soda flavour. 10mg THC beverages account for 45 per cent of total infused-beverage sales1 in Canada, and Deep Space original cola is currently a top 5 overall infused-beverage SKU in the Canadian recreational cannabis market2.
The cannabis-infused gummy market continues to grow, accounting for more than 71 per cent of all edibles purchased in North America,3 and Canopy Growth continues to focus on innovation within the category. Deep Space XPRESS marks Canopy's first single 10mg THC-infused gummy in the Canadian market, offering maximum legal potency per gummy. Deep Space XPRESS will be available in both the original Deep Space cola and Limon Splashdown flavours, designed deliberately to match the popular beverage flavours, in a new gummy format.
"Since its launch in 2020, Deep Space has quickly become a beloved beverage brand. We are excited to introduce additional flavours and formats that deliver the potency and pucker power that Deep Space is known for," said Tara Rozalowsky, Vice President, Beverages and Edibles. "We are proud to launch our first ever 10mg Deep Space XPRESS gummies in Canada, which uniquely positions Canopy to capture market share as consumers look for products that deliver on both great taste and desired effect."
The addition of these new Deep Space product innovations build on Canopy's rapidly growing roster of beverage and edible brands including Tweed Iced Tea and Tweed Fizz, Quatreau, Ace Valley gummies, and Twd. gummies.
Deep Space Limon Splashdown and Deep Space XPRESS will be available for purchase nationally via legal recreational cannabis retail locations and e-commerce channels.
1 Canopy Growth Internal Data, FY22 - September, calculated using internal proprietary market share tool that utilizes point of sales data supplied by a third-party data provider, government agencies and our own retail store operations across the country.
3 Headset data for tracked US states. Edibles includes forms such as beverages, chocolates and other ingestibles.
About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NASDAQ:CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, we offer product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Our global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through our award-winning Tweed and Tokyo Smoke banners, we reach our adult-use consumers and have built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada, the United States, and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional federally-permissible CBD products to the United States through our First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands. For more information visit www.canopygrowth.com.
Notice Regarding Forward-Looking Information
This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable U.S. and Canadian securities laws (collectively, "forward-looking statements"), which involve certain known and unknown risks and uncertainties. Forward-looking statements predict or describe our future operations, business plans, business and investment strategies and the performance of our investments. These forward-looking statements are generally identified by their use of such terms and phrases as "intend," "goal," "strategy," "estimate," "expect," "project," "projections," "forecasts," "plans," "seeks," "anticipates," "potential," "proposed," "will," "should," "could," "would," "may," "likely," "designed to," "foreseeable future," "believe," "scheduled" and other similar expressions. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, financial results, results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. A discussion of some of the material factors applicable to Canopy Growth Corporation ("Canopy") can be found under the section entitled "Risk Factors" in Canopy's Annual Report on Form 10-K for the year ended March 31, 2021, filed with the Securities and Exchange Commission and with applicable Canadian securities regulators, as such factors may be further updated from time to time in its periodic filings with the Securities and Exchange Commission and with applicable Canadian securities regulators, which can be accessed at www.sec.gov/edgar and www.sedar.com, respectively. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the filings. Any forward-looking statement included in this press release is made as of the date of this press release and, except as required by law, Canopy disclaims any obligation to update or revise any forward-looking statement. Readers are cautioned not to put undue reliance on any forward-looking statement. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE Canopy Growth Corporation
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