Canopy Growth Corporation Responds to Department of Justice Update on U.S. Cannabis Laws
In response to news out of the United States Department of Justice yesterday morning regarding federal cannabis laws in the United States and further to press releases issued Oct 17, 2017 and Aug. 4, 2017, Canopy Growth Corporation (TSX: WEED) (“Canopy Growth” or the “Company”) wishes to reiterate its commitment to only conducting business in jurisdictions where that conduct is federally legal and otherwise in compliance with all applicable laws.
Canopy Growth does not and will not conduct business in any jurisdiction unless it is federally permissible. Conducting activities which are federally illegal, or investing in companies which do, exposes the Company to increased risk of prosecution. Such activities would compromise Canopy Growth’s ability to operate freely, and could jeopardize the Company’s listing eligibility on major securities exchanges now and in the future, and limit access to capital from reputable US-based funds and world-class partners.
“We want to make our position as clear as possible: While Canopy does not support continued cannabis prohibition, it is Management’s view that confusion surrounding federal cannabis laws in the United States presents advantages for Canopy Growth, not risks. We are confident in our position because we have exclusively focused on ethical, responsible and legal cannabis opportunities across the globe and not in the United States,” said Bruce Linton, Chairman & CEO, Canopy Growth. “We want to assure our shareholders that they are not being exposed to undue risk.”