Ace Valley Brand Expands Product Portfolio
February 3rd, 2022
News, Top News
Designed to integrate with daily routines, brand launches innovative CBD-infused hard candy and balanced CBD, THC-infused beverages
SMITHS FALLS, ON, Feb. 3, 2022 /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 the extension of the Ace Valley brand portfolio, bringing two new beverages and hard candy formats to market. Marking the brand’s first-ever beverage offerings, Daylight and Moonwave are occasion-based ready-to-drink THC and CBD-infused drinks designed to help consumers start and end their days. Newly launched Citrus Ginger Super CBD hard candies are the brand’s first single 20mg CBD-infused hard candy product.
Daylight and Moonwave bring the first occasion-based cannabis beverage portfolio from Ace Valley to the Canadian market. Daylight, a zesty sparkling water provides a burst of uplifting citrus flavor with a hint of ginseng, offering 2.5mg THC and 5mg CBD, and is the perfect way to start the day. Moonwave is a berry flavour sparkling water with a touch of lavender and vanilla flavours, offering 2mg THC and 10mg CBD, serves as the perfect addition to a nighttime routine. With thoughtfully crafted, bold, natural flavours, these ready to enjoy beverages will be available in convenient 222ml cans.
As the CBD-infused edible market in Canada evolves, sales for CBD-infused candy have increased more than eight times in the past year1. With growing consumer demand, Ace Valley is introducing its first ever CBD-infused hard candy. Citrus Ginger Super CBD hard candies feature a unique blend of sugar-free citrus fruit flavour, with a light kick of ginger, and contain 20mg CBD and 1mg THC per candy. Sold in packs of 10, the Citrus Ginger Super CBD hard candies offer an on-the-go, easy-to-use format for CBD consumption.
“We’re thrilled to bring the first infused beverage and hard candy format to the Ace Valley portfolio which continues to delight Canadian consumers with its roster of premium, ready-to-enjoy products,” said Tara Rozalowsky, Interim Chief Product Officer. “We’ve developed our innovation pipeline to meet the evolving nature of how cannabis is consumed and the growing consumer demand for products used for different occasions and use cases.”
The new Ace Valley products build on the brand’s expansive lineup of thoughtfully curated THC and CBD-infused gummies, vapes, and pre-rolled joints. Daylight and Moonwave infused-beverages and Super CBD hard candies will be available for purchase in select markets via legal recreational cannabis retail locations and e-commerce channels.
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.
1 Source: Tableau Data. Category Overview, All Provinces (CY Q3 2020-Q3 2021)
SOURCE Canopy Growth Corporation
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