Canopy Growth introduces Latin American subsidiary Canopy LATAM and announces the acquisition of leading Colombian medical cannabis company

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) introduce its Latin American affiliate Canopy LATAM Corporation (“Canopy LATAM”), a wholly owned and controlled subsidiary of Canopy Growth Corporation. Through Canopy LATAM, the Company has acquired Spectrum Cannabis Colombia S.A.S. (“Spectrum Cannabis Colombia”), which previously operated as Colombian Cannabis S.A.S. (“Colombian Cannabis”), expanding the Company’s focus on the emerging medical cannabis market of Latin America.

Canopy LATAM will advance medical cannabis throughout Latin America

This announcement represents a leap forward in the Company’s growth strategy for its industry leading Spectrum Cannabis brand. As a member of the Canopy Growth family, Canopy LATAM will focus on advancing medical cannabis and capturing market share across the region, home to more than 600 million people, as individual nations modernize their medical cannabis legislation.

Canopy LATAM will be led by Antonio Droghetti as Regional Managing Director, a seasoned executive with extensive experience throughout Latin America. Antonio has previously served as a senior leader for the Grupo Silvio Santos, Managing Director of Inframérica, concessionaire of the airport of Brasilia, and CEO of Lifemed, a company that develops products for hospitals and the healthcare sector. Canopy LATAM has already hired a seasoned team of senior staff to drive the continental strategy forward. This team will oversee in-market entities from across the region and management believes it will position the Company as the leading cannabis focused healthcare organization in Latin America. Canopy LATAM will work closely with Canopy Growth Chief Medical Officer Dr. Mark Ware to build the necessary global clinical program to ensure expeditious entry into these markets. To support his long-term leadership and reflecting the potential for growth across the region, Canopy LATAM will also acquire all of the issued and outstanding shares of Canindica Capital Ltd (“Canindica”), a company controlled by Antonio Droghetti.

Fuente: Canopy

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